HashiCorp (NASDAQ:HCP) Given “Hold” Rating at Truist Financial

Truist Financial reiterated their hold rating on shares of HashiCorp (NASDAQ:HCP) in a report issued on Thursday, Benzinga reports. The firm currently has a $35.00 price target on the stock, up from their prior price target of $27.00.

A number of other analysts have also weighed in on the stock. Bank of America upped their target price on shares of HashiCorp from $28.00 to $32.00 and gave the stock a neutral rating in a report on Wednesday. Stifel Nicolaus upped their price target on shares of HashiCorp from $26.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, March 6th. Morgan Stanley raised HashiCorp from an equal weight rating to an overweight rating and lifted their price objective for the company from $23.00 to $30.00 in a research note on Monday, February 26th. Oppenheimer restated an outperform rating and issued a $34.00 target price on shares of HashiCorp in a research note on Wednesday, March 6th. Finally, Needham & Company LLC reiterated a hold rating on shares of HashiCorp in a research report on Thursday. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, HashiCorp presently has an average rating of Hold and a consensus target price of $30.77.

HashiCorp Price Performance

Shares of HCP stock opened at $32.82 on Thursday. HashiCorp has a 1 year low of $18.91 and a 1 year high of $36.39. The company’s fifty day simple moving average is $25.90 and its two-hundred day simple moving average is $23.37.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.06. The business had revenue of $155.78 million for the quarter, compared to analysts’ expectations of $149.47 million. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. Research analysts anticipate that HashiCorp will post -0.8 EPS for the current year.

Insider Activity

In other HashiCorp news, CFO Navam Welihinda sold 2,500 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $21.84, for a total value of $54,600.00. Following the completion of the sale, the chief financial officer now directly owns 62,844 shares of the company’s stock, valued at $1,372,512.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other HashiCorp news, CFO Navam Welihinda sold 2,500 shares of HashiCorp stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $21.84, for a total value of $54,600.00. Following the transaction, the chief financial officer now directly owns 62,844 shares of the company’s stock, valued at approximately $1,372,512.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sigal Zarmi sold 4,350 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $30.00, for a total value of $130,500.00. Following the sale, the director now directly owns 37,991 shares of the company’s stock, valued at approximately $1,139,730. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,427 shares of company stock valued at $6,728,242. Corporate insiders own 26.13% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

A number of hedge funds have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. increased its holdings in HashiCorp by 35.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after purchasing an additional 615 shares during the period. Industry Ventures L.L.C. bought a new position in shares of HashiCorp during the fourth quarter valued at approximately $157,000. Victory Capital Management Inc. lifted its stake in HashiCorp by 35.5% in the third quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock worth $241,000 after acquiring an additional 2,768 shares during the period. Xponance Inc. boosted its holdings in HashiCorp by 6.7% in the third quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after acquiring an additional 673 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in HashiCorp by 10.0% during the 3rd quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock valued at $246,000 after purchasing an additional 978 shares during the period. Hedge funds and other institutional investors own 87.83% of the company’s stock.

About HashiCorp

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.