HashiCorp, Inc. (NASDAQ:HCP) Given Average Recommendation of “Hold” by Brokerages

Shares of HashiCorp, Inc. (NASDAQ:HCP) have been assigned an average recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold rating. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $34.40.

Separately, StockNews.com initiated coverage on HashiCorp in a research report on Sunday, April 13th. They issued a “hold” rating for the company.

Hedge Funds Weigh In On HashiCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of HashiCorp by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 16,350,402 shares of the company’s stock valued at $559,347,000 after acquiring an additional 611,447 shares during the period. Norges Bank acquired a new stake in HashiCorp in the fourth quarter worth $161,190,000. Westchester Capital Management LLC boosted its position in shares of HashiCorp by 0.5% during the fourth quarter. Westchester Capital Management LLC now owns 3,217,643 shares of the company’s stock worth $110,076,000 after purchasing an additional 17,321 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of HashiCorp by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 2,585,092 shares of the company’s stock worth $88,465,000 after purchasing an additional 63,090 shares in the last quarter. Finally, Alpine Associates Management Inc. grew its holdings in shares of HashiCorp by 11.8% in the 4th quarter. Alpine Associates Management Inc. now owns 2,394,854 shares of the company’s stock valued at $81,928,000 after buying an additional 252,700 shares during the period. Institutional investors own 86.25% of the company’s stock.

HashiCorp Stock Performance

NASDAQ HCP opened at $34.78 on Friday. The stock has a market capitalization of $7.11 billion, a P/E ratio of -57.02 and a beta of 1.18. HashiCorp has a 52 week low of $23.13 and a 52 week high of $34.85. The stock has a fifty day moving average of $34.70 and a 200-day moving average of $34.24.

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.