SG Americas Securities LLC Lowers Position in Rapid7, Inc. (NASDAQ:RPD)

SG Americas Securities LLC lessened its stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 97.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,372 shares of the technology company's stock after selling 160,824 shares during the quarter. SG Americas Securities LLC's holdings in Rapid7 were worth $174,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new position in Rapid7 during the first quarter valued at $36,000. Quest Partners LLC purchased a new position in Rapid7 in the 2nd quarter worth approximately $35,000. Summit Securities Group LLC bought a new stake in Rapid7 in the second quarter valued at $43,000. Financial Connections Group Inc. acquired a new position in shares of Rapid7 in the 2nd quarter valued at $72,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Rapid7 in the first quarter worth $83,000. Institutional investors own 95.66% of the company's stock.

Insider Buying and Selling

In other news, Director Reeny Sondhi sold 3,663 shares of the firm's 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is currently owned by insiders.

Rapid7 Trading Up 1.1 %

RPD traded up $0.41 on Thursday, hitting $38.67. 324,616 shares of the company's stock were exchanged, compared to its average volume of 838,439. Rapid7, Inc. has a twelve month low of $32.94 and a twelve month high of $61.88. The stock has a fifty day moving average of $37.40 and a two-hundred day moving average of $39.24. The firm has a market cap of $2.41 billion, a PE ratio of -18.84 and a beta of 0.97.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RPD. Royal Bank of Canada downgraded shares of Rapid7 from an "outperform" rating to a "sector perform" rating and decreased their target price for the company from $50.00 to $40.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. decreased their price target on shares of Rapid7 from $46.00 to $39.00 and set a "neutral" rating for the company in a research note on Friday, August 2nd. Baird R W downgraded shares of Rapid7 from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 1st. UBS Group lowered their price objective on Rapid7 from $65.00 to $59.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Finally, Canaccord Genuity Group raised shares of Rapid7 from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $52.00 to $43.00 in a research report on Wednesday, August 7th. Fourteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $46.06.

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.