HashiCorp, Inc. (NASDAQ:HCP) Receives $32.08 Average Target Price from Brokerages

Shares of HashiCorp, Inc. (NASDAQ:HCP) have been given a consensus rating of “Hold” by the thirteen ratings firms that are currently covering the company, MarketBeat reports. Eleven analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $32.27.

HCP has been the subject of several research analyst reports. StockNews.com raised shares of HashiCorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th.

HashiCorp Stock Performance

Shares of HCP opened at $34.78 on Friday. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of -57.02 and a beta of 1.18. The company’s 50 day simple moving average is $34.32 and its 200 day simple moving average is $34.01. HashiCorp has a 1 year low of $23.00 and a 1 year high of $34.85.

Insider Transactions at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 17,800 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total value of $609,294.00. Following the completion of the transaction, the chief technology officer now directly owns 31,348 shares of the company’s stock, valued at $1,073,042.04. This represents a 36.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Mcjannet sold 47,526 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 465,978 shares of the company’s stock, valued at $15,945,767.16. This represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,229 shares of company stock valued at $3,441,256 over the last 90 days. Corporate insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank raised its position in shares of HashiCorp by 43.7% in the 3rd quarter. Amalgamated Bank now owns 9,085 shares of the company’s stock valued at $308,000 after purchasing an additional 2,762 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of HashiCorp by 41.9% in the third quarter. Principal Financial Group Inc. now owns 11,516 shares of the company’s stock worth $390,000 after buying an additional 3,399 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in HashiCorp by 5.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 58,686 shares of the company’s stock valued at $1,987,000 after acquiring an additional 3,118 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in HashiCorp by 27.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 103,118 shares of the company’s stock valued at $3,492,000 after acquiring an additional 22,176 shares during the last quarter. Finally, Versor Investments LP grew its holdings in HashiCorp by 518.9% during the 3rd quarter. Versor Investments LP now owns 157,725 shares of the company’s stock worth $5,341,000 after acquiring an additional 132,239 shares in 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.