StockNews.com Initiates Coverage on HashiCorp (NASDAQ:HCP)

Research analysts at StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued on Sunday. The brokerage set a “hold” rating on the stock.

Separately, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. Ten equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $34.40.

HashiCorp Stock Performance

HashiCorp stock opened at $34.78 on Friday. The stock has a market cap of $7.11 billion, a PE ratio of -57.02 and a beta of 1.18. The stock has a 50-day moving average of $34.66 and a two-hundred day moving average of $34.22. HashiCorp has a one year low of $23.00 and a one year high of $34.85.

Hedge Funds Weigh In On HashiCorp

Several hedge funds and other institutional investors have recently bought and sold shares of HCP. Blue Trust Inc. lifted its stake in HashiCorp by 331.2% during the 4th quarter. Blue Trust Inc. now owns 2,057 shares of the company’s stock valued at $70,000 after acquiring an additional 1,580 shares during the period. Sterling Capital Management LLC lifted its position in HashiCorp by 16.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,627 shares of the company’s stock valued at $124,000 after purchasing an additional 524 shares during the period. KBC Group NV lifted its position in HashiCorp by 45.9% during the fourth quarter. KBC Group NV now owns 5,200 shares of the company’s stock valued at $178,000 after purchasing an additional 1,637 shares during the period. Gotham Asset Management LLC purchased a new stake in HashiCorp in the fourth quarter valued at $203,000. Finally, Callan Family Office LLC acquired a new stake in HashiCorp during the 4th quarter worth about $269,000. Institutional investors and hedge funds own 86.25% of the company’s stock.

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.