HashiCorp, Inc. (NASDAQ:HCP) Receives $34.40 Average Target Price from Analysts

Shares of HashiCorp, Inc. (NASDAQ:HCP) have been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $34.40.

HCP has been the topic of several analyst reports. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. StockNews.com upgraded shares of HashiCorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th.

Insider Buying and Selling at HashiCorp

In other news, CTO Armon Dadgar sold 17,800 shares of HashiCorp stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total value of $609,294.00. Following the transaction, the chief technology officer now owns 31,348 shares of the company’s stock, valued at $1,073,042.04. The trade was a 36.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

Several large investors have recently bought and sold shares of the stock. State Street Corp lifted its stake in HashiCorp by 14.5% during the 3rd quarter. State Street Corp now owns 2,239,850 shares of the company’s stock valued at $75,841,000 after acquiring an additional 282,965 shares during the period. Syquant Capital Sas acquired a new stake in HashiCorp during the 4th quarter valued at approximately $18,554,000. Geode Capital Management LLC lifted its stake in shares of HashiCorp by 18.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after purchasing an additional 385,118 shares during the period. Perigon Wealth Management LLC lifted its stake in shares of HashiCorp by 42.7% in the 4th quarter. Perigon Wealth Management LLC now owns 240,982 shares of the company’s stock valued at $8,268,000 after purchasing an additional 72,088 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of HashiCorp by 41.9% in the 3rd quarter. Principal Financial Group Inc. now owns 11,516 shares of the company’s stock valued at $390,000 after purchasing an additional 3,399 shares during the period. Hedge funds and other institutional investors own 86.25% of the company’s stock.

HashiCorp Price Performance

Shares of NASDAQ HCP opened at $34.78 on Wednesday. HashiCorp has a 1 year low of $23.00 and a 1 year high of $34.85. The company’s 50-day moving average is $34.48 and its 200 day moving average is $34.11. The stock has a market capitalization of $7.11 billion, a P/E ratio of -57.02 and a beta of 1.18.

About HashiCorp

HashiCorp, Inc engages in the provision of multi-cloud infrastructure automation solutions worldwide. The company offers infrastructure provisioning products, including Terraform, that enables IT operations teams to apply an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; Packer, that provides a consistent way to define the process of transforming the raw source inputs into a production worthy artifact, across any environment or packaging format; and Vagrant, that allows teams to define how development environments are set up.