StockNews.com Begins Coverage on HashiCorp (NASDAQ:HCP)

Analysts at StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the stock.

HashiCorp Price Performance

HCP stock opened at $34.78 on Monday. HashiCorp has a 52-week low of $33.01 and a 52-week high of $34.85. The firm has a market cap of $7.11 billion, a P/E ratio of -57.02 and a beta of 1.18. The company’s 50-day simple moving average is $34.78 and its 200-day simple moving average is $34.39.

Institutional Investors Weigh In On HashiCorp

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

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.