Freshford Capital Management LLC Sells 979,570 Shares of Rapid7, Inc. (NASDAQ:RPD)

Freshford Capital Management LLC reduced its stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 73.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,524 shares of the technology company's stock after selling 979,570 shares during the period. Rapid7 accounts for 4.1% of Freshford Capital Management LLC's holdings, making the stock its 12th biggest holding. Freshford Capital Management LLC owned about 0.57% of Rapid7 worth $14,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of RPD. Skandinaviska Enskilda Banken AB publ grew its holdings in Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock worth $46,000 after acquiring an additional 455 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock valued at $60,000 after purchasing an additional 347 shares in the last quarter. Ostrum Asset Management increased its holdings in Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock valued at $100,000 after buying an additional 772 shares during the period. KBC Group NV raised its stake in Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company's stock worth $108,000 after buying an additional 867 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in Rapid7 during the fourth quarter worth $233,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Robert W. Baird cut their price target on Rapid7 from $43.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Scotiabank reduced their target price on shares of Rapid7 from $42.00 to $38.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. StockNews.com upgraded shares of Rapid7 from a "hold" rating to a "buy" rating in a report on Friday, February 21st. Citigroup reduced their price objective on shares of Rapid7 from $46.00 to $44.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, UBS Group lowered their target price on shares of Rapid7 from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $37.32.

Insider Activity at Rapid7

In related news, insider Christina Luconi sold 12,551 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the transaction, the insider now owns 58,165 shares of the company's stock, valued at approximately $1,344,774.80. This represents a 17.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company's stock.

Rapid7 Stock Performance

NASDAQ:RPD opened at $22.91 on Wednesday. The firm's fifty day moving average is $27.58 and its two-hundred day moving average is $35.73. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 58.74 and a beta of 0.99. Rapid7, Inc. has a one year low of $21.61 and a one year high of $46.96.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. As a group, equities research analysts predict that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Rapid7 Company 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.

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