Rapid7, Inc. (NASDAQ:RPD) Shares Sold by 272 Capital LP

272 Capital LP trimmed its holdings in Rapid7, Inc. (NASDAQ:RPD) by 50.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 80,247 shares of the technology company’s stock after selling 81,191 shares during the period. Rapid7 accounts for approximately 3.5% of 272 Capital LP’s holdings, making the stock its 6th largest holding. 272 Capital LP’s holdings in Rapid7 were worth $3,201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Comerica Bank boosted its holdings in Rapid7 by 1.1% in the first quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock valued at $1,243,000 after acquiring an additional 281 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of Rapid7 by 7.1% during the 1st quarter. Virtu Financial LLC now owns 5,198 shares of the technology company’s stock worth $255,000 after purchasing an additional 346 shares during the period. 1620 Investment Advisors Inc. increased its position in Rapid7 by 14.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after purchasing an additional 352 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Rapid7 by 10.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock worth $185,000 after purchasing an additional 400 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Rapid7 by 2.8% in the second quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock valued at $750,000 after buying an additional 465 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the transaction, the director now directly owns 17,460 shares of the company’s stock, valued at approximately $698,400. This represents a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RPD has been the subject of several research reports. Royal Bank of Canada downgraded shares of Rapid7 from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $50.00 to $40.00 in a research note on Friday, September 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research report on Wednesday, August 7th. Jefferies Financial Group started coverage on Rapid7 in a research report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price objective on the stock. DA Davidson boosted their price objective on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Piper Sandler lowered their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Fourteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $44.59.

Rapid7 Stock Performance

Shares of Rapid7 stock opened at $42.60 on Friday. Rapid7, Inc. has a 1 year low of $32.94 and a 1 year high of $61.88. The firm’s 50-day simple moving average is $40.01 and its 200-day simple moving average is $38.56. The firm has a market cap of $2.69 billion, a PE ratio of 67.62 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The company had revenue of $214.65 million for the quarter, compared to the consensus estimate of $210.04 million. During the same quarter last year, the business posted $0.11 EPS. Rapid7’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities analysts predict that Rapid7, Inc. will post 0.98 earnings per share for the current year.

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.