HashiCorp’s (HCP) Market Perform Rating Reiterated at JMP Securities

JMP Securities restated their market perform rating on shares of HashiCorp (NASDAQ:HCPFree Report) in a research note published on Thursday morning, Marketbeat Ratings reports.

Several other equities analysts have also recently weighed in on HCP. Morgan Stanley upgraded shares of HashiCorp from an equal weight rating to an overweight rating and lifted their price objective for the stock from $23.00 to $30.00 in a research report on Monday, February 26th. William Blair cut shares of HashiCorp from an outperform rating to a market perform rating in a report on Wednesday, April 24th. TD Cowen boosted their price target on shares of HashiCorp from $23.00 to $26.00 and gave the company a market perform rating in a report on Wednesday, March 6th. Needham & Company LLC restated a hold rating on shares of HashiCorp in a report on Thursday, April 25th. Finally, Oppenheimer reiterated an outperform rating and issued a $34.00 price objective on shares of HashiCorp in a report on Wednesday, March 6th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $31.17.

Get Our Latest Analysis on HCP

HashiCorp Stock Performance

NASDAQ HCP opened at $33.78 on Thursday. HashiCorp has a twelve month low of $18.91 and a twelve month high of $33.85. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of -35.19 and a beta of 1.25. The firm’s 50 day moving average price is $30.44 and its two-hundred day moving average price is $26.14.

Insider Activity

In related news, CEO David Mcjannet sold 33,331 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $27.38, for a total value of $912,602.78. Following the completion of the transaction, the chief executive officer now owns 326,912 shares of the company’s stock, valued at $8,950,850.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO David Mcjannet sold 33,331 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $27.38, for a total value of $912,602.78. Following the completion of the transaction, the chief executive officer now owns 326,912 shares of the company’s stock, valued at $8,950,850.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $33.65, for a total transaction of $1,208,169.60. Following the completion of the transaction, the chief technology officer now directly owns 1,517,548 shares of the company’s stock, valued at approximately $51,065,490.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 284,415 shares of company stock valued at $8,275,134. Insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

Large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its stake in HashiCorp by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares during the last quarter. Covestor Ltd grew its stake in HashiCorp by 12,888.9% during the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after buying an additional 3,480 shares during the last quarter. Industry Ventures L.L.C. bought a new stake in HashiCorp during the fourth quarter worth about $157,000. Victory Capital Management Inc. grew its stake in HashiCorp by 35.5% during the third quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock worth $241,000 after buying an additional 2,768 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in HashiCorp by 10.0% during the third quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock worth $246,000 after buying an additional 978 shares during the last quarter. 87.83% of the stock is owned by institutional investors.

HashiCorp Company Profile

(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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Analyst Recommendations for HashiCorp (NASDAQ:HCP)

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