Wasatch Advisors LP Sells 13,170 Shares of Rapid7, Inc. (NASDAQ:RPD)

Wasatch Advisors LP trimmed its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,396,881 shares of the technology company’s stock after selling 13,170 shares during the quarter. Wasatch Advisors LP’s holdings in Rapid7 were worth $68,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in Rapid7 in the 1st quarter worth about $42,000. International Assets Investment Management LLC raised its holdings in shares of Rapid7 by 3,367.9% during the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after acquiring an additional 943 shares during the last quarter. Financial Connections Group Inc. acquired a new position in shares of Rapid7 during the fourth quarter valued at approximately $95,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Rapid7 in the fourth quarter valued at approximately $204,000. Finally, Cerity Partners LLC purchased a new stake in shares of Rapid7 in the fourth quarter valued at approximately $206,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Rapid7 Stock Performance

Shares of NASDAQ:RPD traded down $0.45 on Tuesday, hitting $42.72. 550,094 shares of the company’s stock were exchanged, compared to its average volume of 944,802. The firm’s 50-day moving average is $39.62 and its 200 day moving average is $48.86. The company has a market capitalization of $2.66 billion, a PE ratio of -20.84 and a beta of 0.98. Rapid7, Inc. has a 1-year low of $35.08 and a 1-year high of $61.88.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $205.10 million during the quarter, compared to analysts’ expectations of $204.10 million. Rapid7 had a negative return on equity of 31.09% and a negative net margin of 15.14%. On average, analysts anticipate that Rapid7, Inc. will post 0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RPD shares. Mizuho dropped their price target on Rapid7 from $62.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a research report on Friday, May 10th. StockNews.com lowered Rapid7 from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Barclays lowered their price objective on Rapid7 from $60.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 8th. Finally, Truist Financial decreased their price target on Rapid7 from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $51.73.

Insider Activity

In other news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the transaction, the chief operating officer now owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The transaction was disclosed in a filing with the SEC, 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.