Migdal Insurance & Financial Holdings Ltd. Cuts Holdings in Rapid7, Inc. (NASDAQ:RPD)

Migdal Insurance & Financial Holdings Ltd. reduced its position in Rapid7, Inc. (NASDAQ:RPD) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,520 shares of the technology company’s stock after selling 377 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Rapid7 were worth $986,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC raised its position in Rapid7 by 3,888.2% in the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after purchasing an additional 661 shares during the period. Pacer Advisors Inc. raised its position in 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 purchasing an additional 347 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in Rapid7 in the third quarter valued at about $69,000. KBC Group NV raised its position in Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after purchasing an additional 867 shares during the period. Finally, 1620 Investment Advisors Inc. grew its stake in shares of Rapid7 by 14.5% during the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after acquiring an additional 352 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RPD shares. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. 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. Truist Financial lowered their target price on Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group started coverage on Rapid7 in a research note on Wednesday, October 16th. They set a “buy” rating and a $50.00 target price for the company. Fifteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Rapid7 currently has a consensus rating of “Hold” and a consensus price target of $43.76.

Rapid7 Stock Down 0.4 %

Shares of RPD stock opened at $38.12 on Friday. The business has a 50 day moving average of $39.98 and a two-hundred day moving average of $38.93. Rapid7, Inc. has a 52 week low of $32.94 and a 52 week high of $61.88. The company has a market cap of $2.41 billion, a P/E ratio of 60.51 and a beta of 0.96.

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

Insider Activity

In other news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate 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.