HashiCorp (NASDAQ:HCP) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of HashiCorp (NASDAQ:HCP) from a sell rating to a hold rating in a report published on Tuesday morning.

A number of other brokerages have also recently issued reports on HCP. Scotiabank raised HashiCorp from a sector perform rating to a sector outperform rating and set a $31.00 target price for the company in a report on Tuesday, March 12th. Citigroup increased their target price on HashiCorp from $22.00 to $24.00 and gave the stock a neutral rating in a report on Monday, January 22nd. BTIG Research increased their target price on HashiCorp from $25.00 to $27.00 and gave the stock a buy rating in a report on Wednesday, March 6th. TD Cowen increased their price target on HashiCorp from $23.00 to $26.00 and gave the stock a market perform rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley upgraded HashiCorp from an equal weight rating to an overweight rating and increased their price target for the stock from $23.00 to $30.00 in a research report on Monday, February 26th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $28.77.

HashiCorp Trading Up 1.0 %

Shares of HCP opened at $23.66 on Tuesday. HashiCorp has a 1 year low of $18.91 and a 1 year high of $36.39. The stock has a 50 day simple moving average of $25.49 and a 200-day simple moving average of $23.17. The stock has a market cap of $4.72 billion, a PE ratio of -24.14 and a beta of 1.42.

HashiCorp (NASDAQ:HCP) last issued its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.06. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. The business had revenue of $155.78 million during the quarter, compared to analysts’ expectations of $149.47 million. On average, sell-side analysts forecast that HashiCorp will post -0.8 EPS for the current fiscal year.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CEO David Mcjannet sold 33,331 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $27.38, for a total value of $912,602.78. Following the transaction, the chief executive officer now directly owns 326,912 shares in the company, valued at approximately $8,950,850.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other HashiCorp news, CEO David Mcjannet sold 33,331 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $27.38, for a total value of $912,602.78. Following the transaction, the chief executive officer now directly owns 326,912 shares in the company, valued at approximately $8,950,850.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ledger Susan St. sold 17,895 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.39, for a total value of $490,144.05. Following the completion of the transaction, the insider now directly owns 121,702 shares in the company, valued at approximately $3,333,417.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 262,577 shares of company stock worth $6,484,004. Insiders own 26.13% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HCP. Geneos Wealth Management Inc. acquired a new stake in HashiCorp during the 1st quarter worth $33,000. Citigroup Inc. raised its stake in HashiCorp by 167.6% during the 4th quarter. Citigroup Inc. now owns 918 shares of the company’s stock worth $25,000 after buying an additional 575 shares during the period. Dark Forest Capital Management LP acquired a new stake in HashiCorp during the 1st quarter worth $50,000. Tower Research Capital LLC TRC raised its stake in HashiCorp by 82.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,692 shares of the company’s stock worth $39,000 after buying an additional 766 shares during the period. Finally, Coppell Advisory Solutions Corp. acquired a new stake in HashiCorp during the 4th quarter worth $47,000. Institutional investors and hedge funds own 87.83% of the company’s stock.

HashiCorp Company Profile

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.