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

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a report issued on Monday. The firm set a “hold” rating on the stock.

HashiCorp Price Performance

Shares of HCP stock opened at $34.78 on Monday. HashiCorp has a fifty-two week low of $32.98 and a fifty-two week high of $34.85. The stock has a market cap of $7.11 billion, a P/E ratio of -57.02 and a beta of 1.18. The business has a fifty day simple moving average of $34.78 and a 200-day simple moving average of $34.38.

Hedge Funds Weigh In On HashiCorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of HashiCorp by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 16,350,402 shares of the company’s stock valued at $559,347,000 after purchasing an additional 611,447 shares in the last quarter. Norges Bank purchased a new stake in shares of HashiCorp during the 4th quarter valued at about $161,190,000. Westchester Capital Management LLC raised its holdings in shares of HashiCorp by 0.5% during the 4th quarter. Westchester Capital Management LLC now owns 3,217,643 shares of the company’s stock valued at $110,076,000 after buying an additional 17,321 shares during the period. Geode Capital Management LLC raised its holdings in shares of HashiCorp by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 2,585,092 shares of the company’s stock valued at $88,465,000 after buying an additional 63,090 shares during the period. Finally, Alpine Associates Management Inc. raised its holdings in shares of HashiCorp by 11.8% during the 4th quarter. Alpine Associates Management Inc. now owns 2,394,854 shares of the company’s stock valued at $81,928,000 after buying an additional 252,700 shares during the period. 86.25% of the stock is owned by institutional investors and hedge funds.

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.