Cetera Trust Company N.A Trims Stake in Rapid7, Inc. (NASDAQ:RPD)

Cetera Trust Company N.A lowered its stake in Rapid7, Inc. (NASDAQ:RPD) by 24.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,515 shares of the technology company’s stock after selling 1,160 shares during the quarter. Cetera Trust Company N.A’s holdings in Rapid7 were worth $141,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. 1620 Investment Advisors Inc. lifted its stake in Rapid7 by 14.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after buying an additional 352 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of 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 during the period. International Assets Investment Management LLC lifted its stake in shares of Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after purchasing an additional 661 shares during the period. Diversified Trust Co lifted its stake in shares of Rapid7 by 3.7% during the 3rd quarter. Diversified Trust Co now owns 19,826 shares of the technology company’s stock worth $791,000 after purchasing an additional 716 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Rapid7 by 3.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,078 shares of the technology company’s stock worth $1,280,000 after purchasing an additional 965 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Rapid7 Price Performance

Shares of Rapid7 stock opened at $39.44 on Wednesday. The business has a 50-day moving average of $40.62 and a 200-day moving average of $39.03. The company has a market capitalization of $2.49 billion, a PE ratio of 62.88 and a beta of 0.96. Rapid7, Inc. has a 1-year low of $32.94 and a 1-year high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $210.04 million. During the same period last year, the firm earned $0.11 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. On average, equities analysts expect that Rapid7, Inc. will post 0.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Rapid7 in a research note on Wednesday, October 16th. They set a “buy” rating and a $50.00 price target on the stock. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Truist Financial cut their target price on Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Piper Sandler cut their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Finally, DA Davidson increased their target price on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.76.

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.