Emerald Advisers LLC Trims Stake in Rapid7, Inc. (NASDAQ:RPD)

Emerald Advisers LLC trimmed its position in Rapid7, Inc. (NASDAQ:RPD) by 97.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,311 shares of the technology company’s stock after selling 174,523 shares during the quarter. Emerald Advisers LLC’s holdings in Rapid7 were worth $172,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RPD. International Assets Investment Management LLC increased its holdings in Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after buying an additional 661 shares during the period. Quest Partners LLC bought a new position in shares of Rapid7 in the 2nd quarter worth $35,000. Fidelis Capital Partners LLC purchased a new stake in shares of Rapid7 during the 1st quarter worth $36,000. Summit Securities Group LLC bought a new stake in Rapid7 during the second quarter valued at about $43,000. Finally, Financial Connections Group Inc. purchased a new position in Rapid7 in the second quarter valued at about $72,000. Institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

RPD has been the subject of a number of analyst reports. Scotiabank decreased their target price on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Truist Financial dropped their target price on Rapid7 from $45.00 to $40.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. Royal Bank of Canada cut Rapid7 from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $50.00 to $40.00 in a research note on Friday, September 20th. Robert W. Baird downgraded shares of Rapid7 from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $56.00 to $45.00 in a report on Thursday, August 1st. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $46.00 target price on shares of Rapid7 in a research note on Wednesday, July 10th. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.44.

Rapid7 Stock Performance

Shares of Rapid7 stock opened at $39.95 on Monday. Rapid7, Inc. has a fifty-two week low of $32.94 and a fifty-two week high of $61.88. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -47.56 and a beta of 0.96. The stock has a 50 day moving average of $37.74 and a 200 day moving average of $38.85.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.06. The firm had revenue of $207.99 million during the quarter, compared to the consensus estimate of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.33) EPS. Analysts forecast that Rapid7, Inc. will post 0.8 EPS for the current year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now owns 17,460 shares of the company’s stock, valued at approximately $698,400. This trade represents a 0.00 % 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 this link. 2.60% of the stock is owned by corporate insiders.

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.