Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Sei Investments Co.

Sei Investments Co. decreased its position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 73.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,789 shares of the technology company's stock after selling 29,452 shares during the quarter. Sei Investments Co.'s holdings in Rapid7 were worth $466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Rapid7 in the fourth quarter worth approximately $277,000. Los Angeles Capital Management LLC raised its stake in Rapid7 by 60.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 42,293 shares of the technology company's stock valued at $2,074,000 after buying an additional 16,001 shares during the last quarter. Mather Group LLC. bought a new position in shares of Rapid7 during the 1st quarter valued at $42,000. Heritage Investors Management Corp boosted its stake in shares of Rapid7 by 6.1% in the 1st quarter. Heritage Investors Management Corp now owns 116,722 shares of the technology company's stock worth $5,724,000 after buying an additional 6,745 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Rapid7 by 453.9% in the first quarter. Principal Financial Group Inc. now owns 38,764 shares of the technology company's stock worth $1,901,000 after acquiring an additional 31,766 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of Rapid7 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 transaction, the director now directly owns 17,460 shares in the company, valued at approximately $698,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company's stock.

Rapid7 Price Performance

Shares of NASDAQ:RPD traded up $0.24 during trading hours on Thursday, hitting $40.51. 449,312 shares of the company's stock traded hands, compared to its average volume of 859,569. The business has a fifty day moving average price of $36.54 and a 200-day moving average price of $39.86. Rapid7, Inc. has a 1 year low of $32.94 and a 1 year high of $61.88. The firm has a market capitalization of $2.54 billion, a P/E ratio of -19.64 and a beta of 0.97.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.52 by $0.06. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The company had revenue of $207.99 million for the quarter, compared to the consensus estimate of $204.04 million. During the same quarter last year, the firm posted ($0.33) EPS. The firm's revenue was up 9.2% compared to the same quarter last year. As a group, equities analysts predict that Rapid7, Inc. will post 0.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on RPD. Robert W. Baird cut shares of Rapid7 from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $56.00 to $45.00 in a report on Thursday, August 1st. Canaccord Genuity Group raised Rapid7 from a "hold" rating to a "buy" rating and decreased their target price for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Morgan Stanley restated an "equal weight" rating and issued a $46.00 price target on shares of Rapid7 in a research report on Wednesday, July 10th. Royal Bank of Canada cut shares of Rapid7 from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $50.00 to $40.00 in a research note on Friday, September 20th. Finally, UBS Group cut their price objective on shares of Rapid7 from $65.00 to $59.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Fourteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $46.13.

About Rapid7

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.