By otakuyassine3@gmail.com 
StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP – Get Free Report) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the stock.
A number of other research firms have also weighed in on HCP. Citigroup started coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price on the stock. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.08.
Get Our Latest Stock Report on HashiCorp
HashiCorp Price Performance
Shares of NASDAQ HCP opened at $34.21 on Friday. HashiCorp has a 1-year low of $20.89 and a 1-year high of $34.33. The stock has a market capitalization of $6.99 billion, a P/E ratio of -56.08 and a beta of 1.21. The business’s 50 day moving average is $33.87 and its two-hundred day moving average is $33.78.
Insider Buying and Selling at HashiCorp
In other news, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the sale, the chief executive officer now owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. The trade was a 9.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $33.84, for a total transaction of $1,214,991.36. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,436,800. This trade represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 244,844 shares of company stock valued at $8,303,342. 22.49% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of HashiCorp by 42.3% during the second quarter. Bank of New York Mellon Corp now owns 675,550 shares of the company’s stock worth $22,759,000 after buying an additional 200,837 shares in the last quarter. Maryland State Retirement & Pension System acquired a new position in shares of HashiCorp in the 2nd quarter valued at $247,000. Versor Investments LP raised its stake in HashiCorp by 123.6% during the 2nd quarter. Versor Investments LP now owns 25,486 shares of the company’s stock worth $859,000 after acquiring an additional 14,086 shares in the last quarter. Rhumbline Advisers boosted its stake in HashiCorp by 8.6% in the second quarter. Rhumbline Advisers now owns 116,947 shares of the company’s stock valued at $3,940,000 after acquiring an additional 9,296 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in shares of HashiCorp during the second quarter worth about $2,727,000. 86.25% of the stock is currently owned by institutional investors and hedge funds.
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.
Read More
Receive News & Ratings for HashiCorp Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for HashiCorp and related companies with MarketBeat.com’s FREE daily email newsletter.