Blair William & Co. IL Reduces Holdings in Rapid7, Inc. (NASDAQ:RPD)

Blair William & Co. IL lessened its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 88.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,624 shares of the technology company’s stock after selling 55,785 shares during the period. Blair William & Co. IL’s holdings in Rapid7 were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RPD. Pier Capital LLC increased its stake in Rapid7 by 3.4% during the fourth quarter. Pier Capital LLC now owns 186,347 shares of the technology company’s stock worth $7,497,000 after acquiring an additional 6,179 shares during the last quarter. EFG Asset Management North America Corp. boosted its holdings in Rapid7 by 112.4% during the 4th quarter. EFG Asset Management North America Corp. now owns 58,383 shares of the technology company’s stock valued at $2,350,000 after acquiring an additional 30,897 shares during the period. Vanguard Group Inc. grew its position in Rapid7 by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock valued at $346,721,000 after acquiring an additional 60,095 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Rapid7 in the fourth quarter worth $539,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Rapid7 by 672.3% during the fourth quarter. Teacher Retirement System of Texas now owns 43,604 shares of the technology company’s stock worth $1,754,000 after purchasing an additional 37,958 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RPD. Jefferies Financial Group cut their price target on shares of Rapid7 from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Robert W. Baird reduced their target price on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Stifel Nicolaus reduced their price objective on Rapid7 from $42.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Finally, Truist Financial lowered their target price on Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $39.05.

Rapid7 Stock Down 7.4 %

RPD stock opened at $23.68 on Friday. Rapid7, Inc. has a 52 week low of $23.33 and a 52 week high of $50.55. The stock has a market capitalization of $1.51 billion, a PE ratio of 60.72 and a beta of 0.99. The firm has a 50 day moving average of $31.79 and a 200 day moving average of $37.07.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates 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, equities research analysts expect that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Insider Transactions at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.

About Rapid7

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.