Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC decreased its holdings in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 57.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,674 shares of the technology company's stock after selling 99,674 shares during the quarter. Mizuho Markets Americas LLC owned approximately 0.12% of Rapid7 worth $2,979,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its stake in Rapid7 by 252.0% during the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company's stock worth $164,236,000 after buying an additional 2,719,791 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 during the last quarter. Fred Alger Management LLC boosted its holdings in shares of Rapid7 by 0.3% in the 2nd quarter. Fred Alger Management LLC now owns 494,509 shares of the technology company's stock valued at $21,378,000 after purchasing an additional 1,297 shares in the last quarter. Cannae Holdings Inc. bought a new position in shares of Rapid7 in the 2nd quarter valued at $15,130,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of Rapid7 by 37.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 185,781 shares of the technology company's stock worth $9,102,000 after buying an additional 50,603 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

Insiders Place Their Bets

In other news, Director Reeny Sondhi sold 3,663 shares of the business's stock in a transaction on 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 transaction, the director now directly owns 17,460 shares of the company's stock, valued at approximately $698,400. The trade was a 17.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is owned by insiders.

Rapid7 Stock Down 1.8 %

Shares of NASDAQ:RPD traded down $0.73 during midday trading on Friday, reaching $39.98. The company's stock had a trading volume of 642,994 shares, compared to its average volume of 806,032. The firm has a 50 day moving average of $38.49 and a 200-day moving average of $38.55. The firm has a market capitalization of $2.53 billion, a P/E ratio of 63.46 and a beta of 0.96. Rapid7, Inc. has a 12-month low of $32.94 and a 12-month high of $61.88.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share 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 analysts' expectations of $210.04 million. During the same quarter last year, the company posted $0.11 EPS. The company's revenue was up 8.0% compared to the same quarter last year. On average, research analysts predict that Rapid7, Inc. will post 0.98 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on RPD shares. UBS Group decreased their target price on shares of Rapid7 from $59.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Canaccord Genuity Group raised Rapid7 from a "hold" rating to a "buy" rating and lowered their target price for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Canaccord Genuity Group raised Rapid7 from a "hold" rating to a "buy" rating and cut their price target for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Rapid7 in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded Rapid7 from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Rapid7 has an average rating of "Hold" and an average price target of $44.59.

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.