Heritage Investors Management Corp Sells 21,184 Shares of Rapid7, Inc. (NASDAQ:RPD)

Heritage Investors Management Corp lowered its holdings in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 17.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 97,545 shares of the technology company's stock after selling 21,184 shares during the quarter. Heritage Investors Management Corp owned 0.15% of Rapid7 worth $3,924,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RPD. Creative Planning bought a new stake in shares of Rapid7 during the third quarter worth $253,000. International Assets Investment Management LLC grew its stake in Rapid7 by 3,888.2% in the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock valued at $27,000 after acquiring an additional 661 shares during the period. Assenagon Asset Management S.A. acquired a new position in Rapid7 in the third quarter valued at about $948,000. 1620 Investment Advisors Inc. boosted its position in shares of Rapid7 by 14.5% during the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company's stock worth $111,000 after buying an additional 352 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position 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 worth $3,210,000 after buying an additional 66,854 shares during the period. Institutional investors and hedge funds own 95.66% of the company's stock.

Wall Street Analyst Weigh In

RPD has been the topic of several analyst reports. Raymond James dropped their target price on Rapid7 from $55.00 to $45.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Robert W. Baird lowered their target price on Rapid7 from $43.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. StockNews.com raised Rapid7 from a "hold" rating to a "buy" rating in a research report on Friday, February 21st. UBS Group reduced their target price on Rapid7 from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, DA Davidson raised their price objective on Rapid7 from $35.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Fifteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $41.22.

Rapid7 Price Performance

Shares of RPD traded down $0.23 during mid-day trading on Friday, reaching $29.09. 977,111 shares of the company's stock traded hands, compared to its average volume of 740,392. Rapid7, Inc. has a 12 month low of $28.63 and a 12 month high of $59.43. The stock has a market cap of $1.84 billion, a P/E ratio of 74.59 and a beta of 0.96. The stock's 50-day moving average is $37.55 and its two-hundred day moving average is $38.54.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. Research analysts predict that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the sale, the chief executive officer now directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by insiders.

Rapid7 Company 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.