Franklin Resources Inc. Has $1.42 Million Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Franklin Resources Inc. decreased its position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 47.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,078 shares of the technology company's stock after selling 31,229 shares during the period. Franklin Resources Inc. owned 0.06% of Rapid7 worth $1,423,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its position in Rapid7 by 3,888.2% in the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock worth $27,000 after acquiring an additional 661 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Rapid7 in the 2nd quarter valued at $35,000. RPg Family Wealth Advisory LLC bought a new stake in Rapid7 in the third quarter worth $69,000. Point72 Hong Kong Ltd increased its position in Rapid7 by 315.0% during the second quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company's stock worth $90,000 after buying an additional 1,575 shares during the last quarter. Finally, 1620 Investment Advisors Inc. raised its holdings in Rapid7 by 14.5% during the third 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. Institutional investors and hedge funds own 95.66% of the company's stock.

Wall Street Analysts Forecast Growth

RPD has been the subject of a number of analyst reports. Truist Financial reduced their price objective on shares of Rapid7 from $40.00 to $38.00 and set a "hold" rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on shares of Rapid7 from $40.00 to $42.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. DA Davidson raised their price target on Rapid7 from $35.00 to $39.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. StockNews.com raised Rapid7 from a "hold" rating to a "buy" rating in a research report on Friday, December 6th. Finally, Piper Sandler decreased their target price on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Rapid7 has an average rating of "Hold" and a consensus target price of $44.59.

Rapid7 Trading Down 0.3 %

Shares of RPD traded down $0.13 during trading hours on Friday, hitting $40.19. 540,089 shares of the stock traded hands, compared to its average volume of 838,841. The business has a fifty day moving average of $40.86 and a 200-day moving average of $39.04. The firm has a market capitalization of $2.54 billion, a PE ratio of 63.79 and a beta of 0.95. 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 posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.14. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The business had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. During the same period in the previous year, the firm posted $0.11 earnings per share. Rapid7's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities research analysts expect that Rapid7, Inc. will post 0.98 earnings per share for the current fiscal year.

Insider Transactions at Rapid7

In other 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 transaction of $146,520.00. Following the transaction, the director now owns 17,460 shares in the company, valued at $698,400. The trade was a 17.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.60% of the company's stock.

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.