Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Emerald Advisers LLC

Emerald Advisers LLC lowered its position in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 97.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,311 shares of the technology company's stock after selling 174,523 shares during the quarter. Emerald Advisers LLC's holdings in Rapid7 were worth $172,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RPD. Harbor Capital Advisors Inc. increased its stake in Rapid7 by 491.2% during the third quarter. Harbor Capital Advisors Inc. now owns 80,464 shares of the technology company's stock worth $3,210,000 after acquiring an additional 66,854 shares during the last quarter. 1620 Investment Advisors Inc. increased its position in shares of Rapid7 by 14.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company's stock worth $111,000 after purchasing an additional 352 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Rapid7 in the third quarter valued at about $948,000. International Assets Investment Management LLC boosted its stake in Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock worth $27,000 after buying an additional 661 shares during the period. Finally, Tempus Wealth Planning LLC acquired a new stake in shares of Rapid7 during the third quarter valued at about $264,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Stock Down 0.3 %

Rapid7 stock traded down $0.10 during mid-day trading on Monday, hitting $39.85. The company had a trading volume of 488,981 shares, compared to its average volume of 843,487. Rapid7, Inc. has a 1 year low of $32.94 and a 1 year high of $61.88. The business has a fifty day moving average of $37.74 and a 200 day moving average of $38.81. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -47.73 and a beta of 0.96.

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, topping analysts' consensus estimates of $0.52 by $0.06. The business had revenue of $207.99 million for the quarter, compared to analysts' expectations of $204.04 million. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The business's revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. Equities analysts anticipate that Rapid7, Inc. will post 0.8 earnings per share for the current year.

Insider Buying and Selling at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of Rapid7 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 directly owns 17,460 shares in the company, valued at $698,400. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RPD. Baird R W cut shares of Rapid7 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 1st. Truist Financial cut their price objective on Rapid7 from $45.00 to $40.00 and set a "hold" rating on the stock in a report on Wednesday, October 23rd. Morgan Stanley reaffirmed an "equal weight" rating and issued a $46.00 target price on shares of Rapid7 in a research report on Wednesday, July 10th. Canaccord Genuity Group raised shares of Rapid7 from a "hold" rating to a "buy" rating and lowered their price objective for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. Finally, UBS Group cut their target price on shares of Rapid7 from $65.00 to $59.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $45.44.

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.