Algert Global LLC Sells 31,434 Shares of Rapid7, Inc. (NASDAQ:RPD)

Algert Global LLC cut its stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 25.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,519 shares of the technology company's stock after selling 31,434 shares during the period. Algert Global LLC owned 0.14% of Rapid7 worth $3,611,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in shares of Rapid7 by 80.5% during the first quarter. Russell Investments Group Ltd. now owns 3,068 shares of the technology company's stock worth $150,000 after purchasing an additional 1,368 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Rapid7 by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company's stock worth $24,691,000 after purchasing an additional 18,907 shares in the last quarter. Comerica Bank grew its holdings in shares of Rapid7 by 1.1% during the first quarter. Comerica Bank now owns 25,356 shares of the technology company's stock worth $1,243,000 after purchasing an additional 281 shares in the last quarter. Virtu Financial LLC grew its holdings in shares of Rapid7 by 7.1% during the first quarter. Virtu Financial LLC now owns 5,198 shares of the technology company's stock worth $255,000 after purchasing an additional 346 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Rapid7 by 111.5% during the second quarter. Harbor Capital Advisors Inc. now owns 13,610 shares of the technology company's stock worth $588,000 after purchasing an additional 7,175 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on RPD shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Rapid7 in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on Rapid7 from $40.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. UBS Group dropped their price objective on Rapid7 from $59.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Baird R W lowered Rapid7 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 1st. Finally, Piper Sandler dropped their price objective on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Fifteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $44.59.

Insider Transactions at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the sale, the director now directly owns 17,460 shares in the company, valued at approximately $698,400. This trade represents a 17.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by insiders.

Rapid7 Trading Up 1.3 %

Rapid7 stock traded up $0.56 on Tuesday, hitting $43.30. 551,728 shares of the stock traded hands, compared to its average volume of 843,427. The firm has a market cap of $2.74 billion, a P/E ratio of 68.32 and a beta of 0.96. The business's fifty day simple moving average is $39.35 and its 200 day simple moving average is $38.43. Rapid7, Inc. has a 1 year low of $32.94 and a 1 year high of $61.88.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.52 by $0.14. The business had revenue of $214.65 million during the quarter, compared to analyst estimates of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share. As a group, analysts predict that Rapid7, Inc. will post 0.98 earnings per share for the current year.

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.