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

StockNews.com upgraded shares of HashiCorp (NASDAQ:HCP) from a sell rating to a hold rating in a research note published on Friday.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley upgraded HashiCorp from an equal weight rating to an overweight rating and boosted their price target for the company from $23.00 to $30.00 in a report on Monday, February 26th. KeyCorp assumed coverage on HashiCorp in a report on Tuesday, March 19th. They issued a sector weight rating for the company. JMP Securities reiterated a market outperform rating and issued a $38.00 price target on shares of HashiCorp in a report on Thursday, March 7th. Citigroup boosted their price target on HashiCorp from $22.00 to $24.00 and gave the company a neutral rating in a report on Monday, January 22nd. Finally, Stifel Nicolaus upped their price objective on HashiCorp from $26.00 to $28.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $30.77.

HashiCorp Stock Up 0.1 %

HCP stock opened at $32.85 on Friday. HashiCorp has a 52-week low of $18.91 and a 52-week high of $36.39. The stock’s 50 day moving average is $27.09 and its two-hundred day moving average is $23.85. The company has a market capitalization of $6.55 billion, a PE ratio of -33.52 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $155.78 million for the quarter, compared to the consensus estimate of $149.47 million. As a group, sell-side analysts anticipate that HashiCorp will post -0.8 EPS for the current year.

Insiders Place Their Bets

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the transaction, the chief financial officer now owns 62,844 shares in the company, valued at approximately $1,571,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the chief financial officer now owns 62,844 shares in the company, valued at $1,571,100. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sigal Zarmi sold 4,350 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $30.00, for a total value of $130,500.00. Following the completion of the sale, 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. In the last quarter, insiders sold 231,523 shares of company stock worth $5,901,732. 26.13% of the stock is owned by company insiders.

Institutional Trading of HashiCorp

Institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of HashiCorp in the third quarter valued at $309,000. Qsemble Capital Management LP purchased a new stake in shares of HashiCorp during the third quarter valued at $1,119,000. Artemis Investment Management LLP purchased a new stake in shares of HashiCorp during the fourth quarter valued at $7,124,000. Vanguard Group Inc. lifted its holdings in shares of HashiCorp by 4.9% during the third quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock valued at $221,976,000 after purchasing an additional 455,179 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in shares of HashiCorp during the third quarter valued at $491,000. Institutional investors and hedge funds own 87.83% 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.