HashiCorp (NASDAQ:HCP) Receives “Hold” Rating from Truist Financial

Truist Financial restated their hold rating on shares of HashiCorp (NASDAQ:HCP) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $35.00 price objective on the stock, up from their prior price objective of $27.00.

Several other equities research analysts also recently issued reports on HCP. Oppenheimer reiterated an outperform rating and set a $34.00 price target on shares of HashiCorp in a report on Wednesday, March 6th. KeyCorp started coverage on HashiCorp in a report on Tuesday, March 19th. They set a sector weight rating for the company. BTIG Research cut HashiCorp from a buy rating to a neutral rating in a research report on Wednesday. Stifel Nicolaus boosted their price objective on HashiCorp from $26.00 to $28.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. Finally, Scotiabank raised HashiCorp from a sector perform rating to a sector outperform rating and set a $31.00 price objective on the stock in a research report on Tuesday, March 12th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, HashiCorp has an average rating of Hold and an average price target of $30.77.

HashiCorp Stock Performance

Shares of HCP stock opened at $32.59 on Thursday. The company has a market cap of $6.50 billion, a P/E ratio of -33.25 and a beta of 1.42. The stock has a 50 day simple moving average of $26.08 and a two-hundred day simple moving average of $23.45. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $36.39.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.06. The firm had revenue of $155.78 million during the quarter, compared to the consensus estimate of $149.47 million. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. On average, research analysts predict that HashiCorp will post -0.8 earnings per share for the current year.

Insider Activity

In other news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $23.02, for a total transaction of $826,510.08. Following the transaction, the chief technology officer now owns 1,804,780 shares of the company’s stock, valued at approximately $41,546,035.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $23.02, for a total value of $826,510.08. Following the completion of the transaction, the chief technology officer now owns 1,804,780 shares in the company, valued at approximately $41,546,035.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sigal Zarmi sold 4,350 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total value of $130,500.00. Following the completion of the transaction, the director now owns 37,991 shares of the company’s stock, valued at approximately $1,139,730. The disclosure for this sale can be found here. Insiders have sold 267,427 shares of company stock valued at $6,728,242 in the last 90 days. Insiders own 26.13% of the company’s stock.

Institutional Trading of HashiCorp

Institutional investors and hedge funds have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. raised its holdings in shares of HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after acquiring an additional 615 shares in the last quarter. Industry Ventures L.L.C. purchased a new position in shares of HashiCorp during the 4th quarter valued at about $157,000. Victory Capital Management Inc. raised its holdings in shares of HashiCorp by 35.5% during the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after buying an additional 2,768 shares in the last quarter. Xponance Inc. raised its holdings in shares of HashiCorp by 6.7% during the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after buying an additional 673 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of HashiCorp by 10.0% during the 3rd quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock valued at $246,000 after buying an additional 978 shares in the last quarter. Hedge funds and other institutional investors 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.