Analysts Set HashiCorp, Inc. (NASDAQ:HCP) Price Target at $32.08

Shares of HashiCorp, Inc. (NASDAQ:HCP) have been assigned a consensus recommendation of “Hold” from the fourteen analysts that are covering the stock, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $32.08.

A number of equities analysts have commented on HCP shares. StockNews.com upgraded shares of HashiCorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th.

HashiCorp Price Performance

Shares of NASDAQ HCP opened at $34.24 on Tuesday. HashiCorp has a 1 year low of $21.50 and a 1 year high of $34.47. The firm has a 50-day simple moving average of $34.07 and a two-hundred day simple moving average of $33.90. The company has a market cap of $7.00 billion, a P/E ratio of -56.13 and a beta of 1.18.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CEO David Mcjannet sold 47,526 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the completion of the transaction, the chief executive officer now owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. This trade represents a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Armon Dadgar sold 35,903 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $33.90, for a total value of $1,217,111.70. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,528,000. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,132 shares of company stock worth $4,658,368 over the last three months. Corporate insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. State Street Corp raised its position in HashiCorp by 14.5% during the 3rd quarter. State Street Corp now owns 2,239,850 shares of the company’s stock worth $75,841,000 after buying an additional 282,965 shares during the last quarter. Syquant Capital Sas acquired a new stake in HashiCorp during the 4th quarter worth about $18,554,000. Geode Capital Management LLC raised its stake in shares of HashiCorp by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after buying an additional 385,118 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of HashiCorp by 42.7% in the 4th quarter. Perigon Wealth Management LLC now owns 240,982 shares of the company’s stock valued at $8,268,000 after buying an additional 72,088 shares during the period. Finally, Alpine Associates Management Inc. boosted its stake in shares of HashiCorp by 48.7% in the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock worth $72,533,000 after buying an additional 701,350 shares during the last quarter. 86.25% of the stock is 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.