Blair William & Co. IL cut its holdings in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 88.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,624 shares of the technology company's stock after selling 55,785 shares during the quarter. Blair William & Co. IL's holdings in Rapid7 were worth $307,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of RPD. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rapid7 by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 511,088 shares of the technology company's stock worth $20,387,000 after buying an additional 9,190 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Rapid7 in the third quarter valued at $1,341,000. Centiva Capital LP acquired a new position in shares of Rapid7 in the third quarter valued at $566,000. Redwood Investment Management LLC acquired a new position in shares of Rapid7 in the third quarter valued at $486,000. Finally, Stifel Financial Corp acquired a new position in shares of Rapid7 in the third quarter valued at $1,006,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the sale, the chief executive officer now directly owns 431,469 shares of the company's stock, valued at approximately $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christina Luconi sold 12,551 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the sale, the insider now directly owns 58,165 shares of the company's stock, valued at $1,344,774.80. The trade was a 17.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.
Rapid7 Price Performance
RPD stock traded down $1.43 during midday trading on Thursday, reaching $23.32. 84,412 shares of the stock were exchanged, compared to its average volume of 842,223. The stock has a market capitalization of $1.49 billion, a PE ratio of 59.79 and a beta of 0.99. Rapid7, Inc. has a 52 week low of $22.08 and a 52 week high of $50.40. The company has a fifty day moving average price of $30.28 and a 200 day moving average price of $36.67.
Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. As a group, analysts anticipate that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently commented on RPD. JPMorgan Chase & Co. cut their target price on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. DA Davidson decreased their target price on Rapid7 from $35.00 to $29.00 and set a "neutral" rating on the stock in a report on Tuesday, March 25th. Needham & Company LLC restated a "hold" rating on shares of Rapid7 in a report on Thursday, February 13th. Stifel Nicolaus decreased their price target on Rapid7 from $42.00 to $38.00 and set a "hold" rating on the stock in a report on Thursday, February 13th. Finally, Stephens assumed coverage on Rapid7 in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $33.00 price target on the stock. Fifteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Rapid7 has an average rating of "Hold" and an average target price of $39.05.
View Our Latest Research Report on Rapid7
About Rapid7
(
Free Report)
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.
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