Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 11.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 88,929 shares of the technology company’s stock after selling 11,441 shares during the period. Rhumbline Advisers owned about 0.14% of Rapid7 worth $3,578,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of Rapid7 by 3,888.2% in the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after purchasing an additional 661 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after purchasing an additional 347 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of Rapid7 in the third quarter valued at about $69,000. KBC Group NV grew its holdings in shares of Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after purchasing an additional 867 shares during the period. Finally, FORA Capital LLC purchased a new stake in shares of Rapid7 in the third quarter valued at about $209,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on RPD. DA Davidson upped their target price on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Piper Sandler reduced their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Finally, Jefferies Financial Group reduced their price target on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $41.22.

Insider Transactions at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the transaction, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.60% of the company’s stock.

Rapid7 Price Performance

Shares of NASDAQ RPD opened at $29.09 on Friday. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 74.59 and a beta of 0.96. The business has a 50-day moving average of $37.55 and a 200-day moving average of $38.54. Rapid7, Inc. has a fifty-two week low of $28.63 and a fifty-two week high of $59.43.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. On average, sell-side analysts expect that Rapid7, Inc. will post 0.35 EPS for the current year.

Rapid7 Company 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.