HashiCorp (NASDAQ:HCP) Receives Market Perform Rating from JMP Securities

JMP Securities reaffirmed their market perform rating on shares of HashiCorp (NASDAQ:HCPFree Report) in a report released on Thursday, Benzinga reports.

A number of other analysts also recently issued reports on HCP. StockNews.com initiated coverage on shares of HashiCorp in a report on Sunday, June 2nd. They issued a hold rating for the company. William Blair downgraded HashiCorp from an outperform rating to a market perform rating in a research note on Wednesday, April 24th. Piper Sandler increased their price objective on shares of HashiCorp from $25.00 to $35.00 and gave the stock a neutral rating in a research note on Thursday, April 25th. TD Cowen boosted their target price on shares of HashiCorp from $23.00 to $26.00 and gave the company a market perform rating in a research report on Wednesday, March 6th. Finally, BTIG Research downgraded shares of HashiCorp from a buy rating to a neutral rating in a report on Wednesday, April 24th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $30.77.

Check Out Our Latest Analysis on HashiCorp

HashiCorp Stock Down 0.1 %

HCP stock opened at $33.75 on Thursday. The business has a 50 day moving average price of $30.31 and a two-hundred day moving average price of $25.98. HashiCorp has a twelve month low of $18.91 and a twelve month high of $36.39. The company has a market cap of $6.73 billion, a price-to-earnings ratio of -35.16 and a beta of 1.25.

HashiCorp (NASDAQ:HCPGet Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.06. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. The business had revenue of $155.78 million for the quarter, compared to analysts’ expectations of $149.47 million. On average, equities research analysts anticipate that HashiCorp will post -0.8 EPS for the current fiscal year.

Insider Activity

In other news, CTO Armon Dadgar sold 10,241 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.39, for a total transaction of $280,500.99. Following the completion of the transaction, the chief technology officer now owns 144,820 shares of the company’s stock, valued at $3,966,619.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $33.34, for a total value of $166,700.00. Following the sale, the chief financial officer now directly owns 93,925 shares of the company’s stock, valued at approximately $3,131,459.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Armon Dadgar sold 10,241 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $27.39, for a total transaction of $280,500.99. Following the sale, the chief technology officer now owns 144,820 shares of the company’s stock, valued at $3,966,619.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 284,415 shares of company stock valued at $8,275,134. 22.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HCP. Advisors Asset Management Inc. increased its stake in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after acquiring an additional 961 shares in the last quarter. Covestor Ltd increased its stake in HashiCorp by 12,888.9% in the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after purchasing an additional 3,480 shares in the last quarter. Industry Ventures L.L.C. acquired a new position in shares of HashiCorp during the fourth quarter valued at about $157,000. Victory Capital Management Inc. raised its holdings in shares of HashiCorp by 35.5% during the third quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after purchasing an additional 2,768 shares during the period. Finally, Principal Financial Group Inc. boosted its position 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 worth $246,000 after purchasing an additional 978 shares in the last quarter. 87.83% of the stock is owned by institutional investors.

About HashiCorp

(Get Free Report)

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.

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