Mutual of America Capital Management LLC Sells 3,450 Shares of Rapid7, Inc. (NASDAQ:RPD)

Mutual of America Capital Management LLC reduced its stake in Rapid7, Inc. (NASDAQ:RPD) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,731 shares of the technology company’s stock after selling 3,450 shares during the quarter. Mutual of America Capital Management LLC owned about 0.13% of Rapid7 worth $3,447,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in RPD. First Trust Advisors LP increased its stake in Rapid7 by 49.2% in the 4th quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after buying an additional 1,124,429 shares in the last quarter. Wasatch Advisors LP increased its holdings in Rapid7 by 12.8% during the fourth quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company’s stock valued at $80,514,000 after buying an additional 160,531 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Rapid7 by 46.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock valued at $61,512,000 after buying an additional 397,968 shares during the period. Norges Bank purchased a new position in Rapid7 during the fourth quarter valued at approximately $37,790,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Rapid7 by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock worth $24,691,000 after purchasing an additional 18,907 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

Rapid7 Stock Performance

NASDAQ:RPD opened at $35.78 on Tuesday. The stock has a 50-day simple moving average of $36.94 and a 200-day simple moving average of $40.93. The stock has a market cap of $2.23 billion, a P/E ratio of -17.45 and a beta of 0.96. Rapid7, Inc. has a 1 year low of $32.94 and a 1 year high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.06. The company had revenue of $207.99 million for the quarter, compared to analyst estimates of $204.04 million. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The business’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) earnings per share. On average, equities research analysts predict that Rapid7, Inc. will post 0.8 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RPD. UBS Group dropped their price objective on shares of Rapid7 from $65.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Scotiabank decreased their target price on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley restated an “equal weight” rating and set a $46.00 target price on shares of Rapid7 in a research report on Wednesday, July 10th. KeyCorp upgraded shares of Rapid7 to a “hold” rating in a research report on Monday, June 17th. Finally, Robert W. Baird cut shares of Rapid7 from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $56.00 to $45.00 in a research note on Thursday, August 1st. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.13.

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.