Rapid7, Inc. (NASDAQ:RPD) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its holdings in Rapid7, Inc. (NASDAQ:RPD) by 97.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,372 shares of the technology company’s stock after selling 160,824 shares during the quarter. SG Americas Securities LLC’s holdings in Rapid7 were worth $174,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fidelis Capital Partners LLC acquired a new position in shares of Rapid7 in the first quarter worth $36,000. Quest Partners LLC acquired a new stake in shares of Rapid7 in the 2nd quarter valued at $35,000. Summit Securities Group LLC acquired a new stake in shares of Rapid7 in the second quarter valued at $43,000. Financial Connections Group Inc. bought a new stake in shares of Rapid7 during the second quarter valued at approximately $72,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Rapid7 during the first quarter worth $83,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RPD has been the topic of a number of recent analyst reports. Scotiabank reduced their target price on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $52.00 to $43.00 in a research note on Wednesday, August 7th. Truist Financial cut their target price on shares of Rapid7 from $45.00 to $40.00 and set a “hold” rating on the stock in a report on Wednesday. Royal Bank of Canada lowered shares of Rapid7 from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $50.00 to $40.00 in a report on Friday, September 20th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $46.00 price objective on shares of Rapid7 in a research note on Wednesday, July 10th. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.06.

Rapid7 Stock Down 1.1 %

NASDAQ:RPD opened at $38.26 on Thursday. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -45.55 and a beta of 0.97. The stock’s 50 day moving average price is $37.40 and its two-hundred day moving average price is $39.24. Rapid7, Inc. has a twelve month low of $32.94 and a twelve month high of $61.88.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. Rapid7’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.33) EPS. As a group, analysts anticipate that Rapid7, Inc. will post 0.8 earnings per share for the current year.

Insiders Place Their Bets

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the transaction, the director now directly owns 17,460 shares of the company’s stock, valued at $698,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.

Rapid7 Profile

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.