Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP decreased its stake 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. The firm owned 1,396,881 shares of the technology company’s stock after selling 13,170 shares during the period. Wasatch Advisors LP owned approximately 2.25% of Rapid7 worth $68,503,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. First Trust Advisors LP raised its position in Rapid7 by 49.2% during the fourth quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock valued at $194,668,000 after acquiring an additional 1,124,429 shares in the last quarter. Norges Bank bought a new position in shares of Rapid7 in the fourth quarter valued at about $37,790,000. Vanguard Group Inc. raised its holdings in Rapid7 by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock worth $322,337,000 after purchasing an additional 148,440 shares during the last quarter. Bank of Nova Scotia bought a new stake in Rapid7 during the 4th quarter worth about $5,548,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Rapid7 by 11.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 856,355 shares of the technology company’s stock worth $49,143,000 after purchasing an additional 86,633 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Rapid7 Stock Down 1.0 %

NASDAQ:RPD traded down $0.45 during trading hours on Tuesday, reaching $42.72. 550,094 shares of the stock were exchanged, compared to its average volume of 944,802. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -20.84 and a beta of 0.98. The business has a 50-day moving average of $39.62 and a two-hundred day moving average of $48.86. Rapid7, Inc. has a twelve month low of $35.08 and a twelve month high of $61.88.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on RPD. StockNews.com downgraded Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Scotiabank assumed coverage on Rapid7 in a report on Friday, April 26th. They set a “sector perform” rating and a $46.00 target price on the stock. Susquehanna decreased their target price on Rapid7 from $55.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Barclays reduced their price target on Rapid7 from $60.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 8th. Finally, UBS Group reduced their target price on Rapid7 from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.73.

Insider Activity at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the sale, the chief operating officer now owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.60% of the company’s stock.

Rapid7 Company 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.