HashiCorp, Inc. (NASDAQ:HCP – Get Free Report)’s share price gapped down before the market opened on Friday after Truist Financial lowered their price target on the stock from $36.00 to $34.00. The stock had previously closed at $29.16, but opened at $28.52. HashiCorp shares last traded at $28.09, with a volume of 660,732 shares traded.
A number of other brokerages have also recently weighed in on HCP. Stifel Nicolaus lifted their price objective on HashiCorp from $31.00 to $32.00 in a research note on Friday. JPMorgan Chase & Co. dropped their price target on HashiCorp from $32.00 to $26.00 in a research report on Thursday, June 8th. BTIG Research dropped their target price on HashiCorp from $37.00 to $32.00 in a research report on Thursday, June 8th. Piper Sandler upped their price target on HashiCorp from $27.00 to $30.00 in a report on Friday. Finally, Bank of America increased their price target on HashiCorp from $30.00 to $34.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.
Insider Buying and Selling
In other news, Director Sigal Zarmi sold 4,050 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $30.00, for a total transaction of $121,500.00. Following the completion of the transaction, the director now owns 31,576 shares of the company’s stock, valued at $947,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other HashiCorp news, CTO Armon Dadgar sold 38,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $28.13, for a total value of $1,068,940.00. Following the completion of the sale, the chief technology officer now owns 1,786,000 shares of the company’s stock, valued at approximately $50,240,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sigal Zarmi sold 4,050 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $30.00, for a total transaction of $121,500.00. Following the transaction, the director now owns 31,576 shares of the company’s stock, valued at $947,280. The disclosure for this sale can be found here. Over the last three months, insiders sold 257,787 shares of company stock worth $7,032,005. Corporate insiders own 26.13% of the company’s stock.
Institutional Trading of HashiCorp
Several institutional investors and hedge funds have recently made changes to their positions in HCP. Citigroup Inc. lifted its position in HashiCorp by 167.6% during the fourth quarter. Citigroup Inc. now owns 918 shares of the company’s stock valued at $25,000 after purchasing an additional 575 shares during the last quarter. Whittier Trust Co. grew its stake in HashiCorp by 149.7% during the first quarter. Whittier Trust Co. now owns 874 shares of the company’s stock valued at $26,000 after acquiring an additional 524 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of HashiCorp in the 1st quarter worth $33,000. American International Group Inc. purchased a new position in shares of HashiCorp during the 2nd quarter worth about $38,000. Finally, Osaic Holdings Inc. raised its holdings in shares of HashiCorp by 188.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,769 shares of the company’s stock valued at $46,000 after purchasing an additional 1,155 shares in the last quarter. Hedge funds and other institutional investors own 45.93% of the company’s stock.
HashiCorp Trading Down 3.7 %
The stock has a market cap of $5.39 billion, a PE ratio of -20.90 and a beta of 1.13. The business’s 50-day moving average price is $27.93 and its 200-day moving average price is $29.14.
HashiCorp (NASDAQ:HCP – Get Free Report) last announced its quarterly earnings data on Wednesday, June 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.09. The firm had revenue of $137.98 million during the quarter, compared to analyst estimates of $133.11 million. HashiCorp had a negative net margin of 48.61% and a negative return on equity of 20.57%. As a group, analysts predict that HashiCorp, Inc. will post -1.14 earnings per share for the current year.
About HashiCorp
HashiCorp, Inc provides multi-cloud infrastructure automation solutions worldwide. The company offers Terraform, an infrastructure provisioning product that applies an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; and Vault, a secrets management and data protection product, which enables security teams to apply policies based on application and user identity to govern access to credentials and secure sensitive data.