Clearbridge Investments LLC Has $7.55 Million Stock Holdings in Rapid7, Inc. (NASDAQ:RPD)

Clearbridge Investments LLC decreased its stake in Rapid7, Inc. (NASDAQ:RPD) by 19.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 153,903 shares of the technology company’s stock after selling 36,374 shares during the quarter. Clearbridge Investments LLC’s holdings in Rapid7 were worth $7,547,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RPD. Fidelis Capital Partners LLC purchased a new stake in shares of Rapid7 during the first quarter worth $36,000. Mather Group LLC. purchased a new stake in shares of Rapid7 during the 1st quarter worth about $42,000. International Assets Investment Management LLC lifted its holdings in shares of Rapid7 by 3,367.9% during the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after buying an additional 943 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Rapid7 in the 1st quarter valued at approximately $83,000. Finally, Financial Connections Group Inc. acquired a new position in Rapid7 in the fourth quarter worth approximately $95,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Price Performance

NASDAQ:RPD opened at $38.84 on Thursday. Rapid7, Inc. has a one year low of $35.08 and a one year high of $61.88. The company has a fifty day moving average price of $38.90 and a 200 day moving average price of $47.08. The stock has a market cap of $2.42 billion, a P/E ratio of -18.95 and a beta of 0.98.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RPD shares. Robert W. Baird dropped their price target on shares of Rapid7 from $62.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Canaccord Genuity Group lowered their target price on shares of Rapid7 from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. UBS Group reduced their price target on Rapid7 from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Susquehanna lowered their price objective on Rapid7 from $55.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Finally, Royal Bank of Canada decreased their target price on Rapid7 from $70.00 to $57.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rapid7 presently has a consensus rating of “Hold” and an average target price of $51.13.

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.