Rhumbline Advisers Reduces Stake in Rapid7, Inc. (NASDAQ:RPD)

Rhumbline Advisers trimmed its stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 11.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,929 shares of the technology company's stock after selling 11,441 shares during the quarter. Rhumbline Advisers owned about 0.14% of Rapid7 worth $3,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in RPD. Pacer Advisors Inc. boosted its position in shares of Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock valued at $60,000 after purchasing an additional 347 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Rapid7 by 0.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company's stock worth $2,782,000 after buying an additional 446 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock worth $27,000 after acquiring an additional 661 shares during the last quarter. KBC Group NV raised its holdings in Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company's stock worth $108,000 after buying an additional 867 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Rapid7 by 3.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,078 shares of the technology company's stock valued at $1,280,000 after purchasing an additional 965 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RPD. JPMorgan Chase & Co. dropped their price objective on Rapid7 from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Truist Financial reduced their price objective on Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, February 13th. Scotiabank lowered their price target on Rapid7 from $42.00 to $38.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 13th. Piper Sandler cut their price target on shares of Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Finally, Robert W. Baird lowered their price target on Rapid7 from $43.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Fifteen investment 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.com, the company presently has an average rating of "Hold" and a consensus target price of $41.22.

Insiders Place Their Bets

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

Rapid7 Stock Down 1.7 %

RPD stock traded down $0.50 during midday trading on Monday, hitting $28.59. The company's stock had a trading volume of 304,660 shares, compared to its average volume of 729,248. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 73.29 and a beta of 0.96. Rapid7, Inc. has a 1 year low of $28.57 and a 1 year high of $59.43. The stock's 50-day moving average price is $37.55 and its 200 day moving average price is $38.56.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share 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%. As a group, equities analysts forecast that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

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.