Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 117,200 shares of the technology company’s stock after selling 4,700 shares during the quarter. Swiss National Bank owned 0.19% of Rapid7 worth $4,715,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RPD. Pacer Advisors Inc. boosted 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 acquiring an additional 347 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Rapid7 in the 3rd quarter valued at approximately $69,000. KBC Group NV increased its position in Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after purchasing an additional 867 shares during the period. FORA Capital LLC purchased a new position in shares of Rapid7 during the 3rd quarter worth approximately $209,000. Finally, Versor Investments LP purchased a new position in shares of Rapid7 during the 4th quarter worth approximately $266,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RPD has been the subject of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a research report on Thursday, February 13th. Raymond James cut their price target on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Scotiabank decreased their price objective on shares of Rapid7 from $42.00 to $38.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Jefferies Financial Group dropped their target price on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, UBS Group decreased their price target on Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.50.

Insider Activity at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was 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 approximately $16,991,249.22. This trade represents a 18.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

Rapid7 Price Performance

Shares of NASDAQ RPD opened at $29.70 on Tuesday. The company has a 50-day simple moving average of $33.96 and a 200-day simple moving average of $37.53. The company has a market cap of $1.90 billion, a PE ratio of 76.15 and a beta of 0.92. Rapid7, Inc. has a 12 month low of $26.77 and a 12 month high of $50.55.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. On average, analysts anticipate 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.