Rapid7, Inc. (NASDAQ:RPD) Shares Sold by 272 Capital LP

272 Capital LP cut its position in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 50.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,247 shares of the technology company's stock after selling 81,191 shares during the quarter. Rapid7 comprises about 3.5% of 272 Capital LP's holdings, making the stock its 6th largest position. 272 Capital LP owned about 0.13% of Rapid7 worth $3,201,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Comerica Bank grew its stake in Rapid7 by 1.1% in the 1st quarter. Comerica Bank now owns 25,356 shares of the technology company's stock valued at $1,243,000 after buying an additional 281 shares in the last quarter. Virtu Financial LLC grew its position in shares of Rapid7 by 7.1% in the first quarter. Virtu Financial LLC now owns 5,198 shares of the technology company's stock valued at $255,000 after purchasing an additional 346 shares in the last quarter. 1620 Investment Advisors Inc. grew its position in shares of Rapid7 by 14.5% in the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company's stock valued at $111,000 after purchasing an additional 352 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Rapid7 by 10.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company's stock worth $185,000 after purchasing an additional 400 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Rapid7 by 2.8% in the 2nd quarter. Arizona State Retirement System now owns 17,352 shares of the technology company's stock worth $750,000 after purchasing an additional 465 shares during the period. Hedge funds and other institutional investors own 95.66% of the company's stock.

Rapid7 Stock Performance

NASDAQ:RPD traded up $0.07 during trading hours on Friday, reaching $42.60. The company's stock had a trading volume of 297,425 shares, compared to its average volume of 755,996. The firm has a 50-day simple moving average of $40.01 and a 200-day simple moving average of $38.56. 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 $2.69 billion, a price-to-earnings ratio of 67.62 and a beta of 0.96.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.14. The business had revenue of $214.65 million for the quarter, compared to analysts' expectations of $210.04 million. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 earnings per share. Equities analysts anticipate that Rapid7, Inc. will post 0.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Rapid7 from $40.00 to $42.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Scotiabank lowered their target price on shares of Rapid7 from $45.00 to $41.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 7th. UBS Group cut their price target on shares of Rapid7 from $59.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Truist Financial decreased their price target on shares of Rapid7 from $40.00 to $38.00 and set a "hold" rating on the stock in a report on Thursday, November 7th. Finally, Piper Sandler reduced their target price on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $44.59.

Insiders Place Their Bets

In other news, Director Reeny Sondhi sold 3,663 shares of the company's stock in a transaction dated 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 owns 17,460 shares in the company, valued at approximately $698,400. This represents a 17.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by company 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.