HashiCorp (NASDAQ:HCP) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued to investors on Monday. The firm set a “hold” rating on the stock.

HashiCorp Price Performance

NASDAQ HCP opened at $34.78 on Monday. The firm’s fifty day moving average price is $34.78 and its 200 day moving average price is $34.39. HashiCorp has a 12 month low of $33.01 and a 12 month high of $34.85. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of -57.02 and a beta of 1.18.

Institutional Investors Weigh In On HashiCorp

A number of institutional investors have recently added to or reduced their stakes in the business. Perigon Wealth Management LLC grew its position in HashiCorp by 42.7% during the fourth quarter. Perigon Wealth Management LLC now owns 240,982 shares of the company’s stock worth $8,268,000 after buying an additional 72,088 shares during the period. Principal Financial Group Inc. increased its stake in HashiCorp by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 11,913 shares of the company’s stock valued at $408,000 after purchasing an additional 397 shares in the last quarter. SG Americas Securities LLC raised its holdings in HashiCorp by 1,512.2% during the fourth quarter. SG Americas Securities LLC now owns 720,930 shares of the company’s stock worth $24,663,000 after purchasing an additional 676,212 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in HashiCorp by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,019,276 shares of the company’s stock worth $34,869,000 after purchasing an additional 34,220 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in HashiCorp by 21.6% in the fourth quarter. Invesco Ltd. now owns 131,002 shares of the company’s stock valued at $4,482,000 after purchasing an additional 23,232 shares during the last quarter. Hedge funds and other institutional investors own 86.25% 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.