GSA Capital Partners LLP Lowers Position in Rapid7, Inc. (NASDAQ:RPD)

GSA Capital Partners LLP lessened its holdings in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 51.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,022 shares of the technology company's stock after selling 26,838 shares during the period. GSA Capital Partners LLP's holdings in Rapid7 were worth $998,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in Rapid7 by 9.7% in the 3rd quarter. Principal Financial Group Inc. now owns 47,661 shares of the technology company's stock valued at $1,901,000 after purchasing an additional 4,214 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Rapid7 by 3.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 125,678 shares of the technology company's stock worth $5,013,000 after buying an additional 3,634 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Rapid7 by 491.2% during the third quarter. Harbor Capital Advisors Inc. now owns 80,464 shares of the technology company's stock valued at $3,210,000 after purchasing an additional 66,854 shares during the last quarter. 1620 Investment Advisors Inc. boosted its position 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 during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Rapid7 in the 3rd quarter valued at $948,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Scotiabank reduced their target price on Rapid7 from $45.00 to $41.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 7th. Piper Sandler lowered 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. UBS Group reduced their price objective on Rapid7 from $59.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Baird R W lowered Rapid7 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 1st. Finally, DA Davidson upped their price target on Rapid7 from $35.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $44.59.

Rapid7 Stock Performance

RPD traded down $0.73 during mid-day trading on Friday, reaching $39.98. 642,994 shares of the stock were exchanged, compared to its average volume of 844,571. The company has a 50 day moving average price of $38.49 and a two-hundred day moving average price of $38.59. Rapid7, Inc. has a 1 year low of $32.94 and a 1 year high of $61.88. The stock has a market capitalization of $2.53 billion, a PE ratio of 63.46 and a beta of 0.96.

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, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $210.04 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. The company's revenue for the quarter was up 8.0% on a year-over-year basis. Sell-side analysts expect that Rapid7, Inc. will post 0.98 EPS for the current fiscal year.

Insider Activity

In other news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the transaction, the director now owns 17,460 shares of the company's stock, valued at $698,400. This represents a 17.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company 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.