HashiCorp (NASDAQ:HCP) Upgraded by StockNews.com to “Hold”

HashiCorp (NASDAQ:HCP) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank upgraded shares of HashiCorp from a “sector perform” rating to a “sector outperform” rating and set a $31.00 price objective on the stock in a report on Tuesday, March 12th. JMP Securities reiterated a “market outperform” rating and issued a $38.00 price target on shares of HashiCorp in a research report on Thursday, March 7th. Needham & Company LLC increased their price target on shares of HashiCorp from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. BTIG Research lifted their target price on shares of HashiCorp from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Bank of America lifted their target price on shares of HashiCorp from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.77.

HashiCorp Trading Up 18.7 %

Shares of NASDAQ:HCP opened at $29.15 on Monday. The company has a market cap of $5.82 billion, a price-to-earnings ratio of -29.74 and a beta of 1.42. The company has a 50-day moving average price of $25.59 and a 200-day moving average price of $23.25. HashiCorp has a 12 month low of $18.91 and a 12 month high of $36.39.

HashiCorp (NASDAQ:HCP) last released its quarterly 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 net margin of 32.70% and a negative return on equity of 15.58%. The company had revenue of $155.78 million during the quarter, compared to the consensus estimate of $149.47 million. As a group, research analysts forecast that HashiCorp will post -0.8 EPS for the current fiscal year.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $23.02, for a total value of $826,510.08. Following the completion of the sale, the chief technology officer now directly owns 1,804,780 shares of the company’s stock, valued at approximately $41,546,035.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the chief financial officer now owns 62,844 shares of the company’s stock, valued at $1,571,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $23.02, for a total transaction of $826,510.08. Following the sale, the chief technology officer now directly owns 1,804,780 shares of the company’s stock, valued at approximately $41,546,035.60. The disclosure for this sale can be found here. Insiders sold a total of 224,173 shares of company stock valued at $5,641,396 in the last three months. Company insiders own 26.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Ronald Blue Trust Inc. increased its stake in shares of HashiCorp by 327.8% in the third quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the company’s stock worth $47,000 after acquiring an additional 1,570 shares during the period. SG Americas Securities LLC lifted its stake in shares of HashiCorp by 47.6% in the third quarter. SG Americas Securities LLC now owns 39,928 shares of the company’s stock worth $912,000 after buying an additional 12,884 shares in the last quarter. Peregrine Capital Management LLC raised its stake in HashiCorp by 3.5% during the third quarter. Peregrine Capital Management LLC now owns 303,525 shares of the company’s stock worth $6,929,000 after purchasing an additional 10,322 shares during the period. Xponance Inc. lifted its holdings in HashiCorp by 6.7% in the third quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after acquiring an additional 673 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in HashiCorp by 10.5% in the third quarter. Bank of New York Mellon Corp now owns 337,516 shares of the company’s stock valued at $7,705,000 after acquiring an additional 32,006 shares during the last quarter. 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.