Rapid7, Inc. (NASDAQ:RPD) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,080,283 shares of the technology company's stock after selling 28,089 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.71% of Rapid7 worth $43,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. 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. Quest Partners LLC bought a new stake in Rapid7 during the 2nd quarter valued at $35,000. Summit Securities Group LLC acquired a new position in Rapid7 during the second quarter worth $43,000. RPg Family Wealth Advisory LLC bought a new position in shares of Rapid7 in the third quarter valued at $69,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Rapid7 during the second quarter valued at about $72,000. Institutional investors own 95.66% of the company's stock.

Insiders Place Their Bets

In related news, Director Reeny Sondhi sold 3,663 shares of the company's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the transaction, the director now owns 17,460 shares of the company's stock, valued at $698,400. This represents a 17.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is owned by company insiders.

Rapid7 Price Performance

NASDAQ:RPD traded up $0.01 during trading hours on Wednesday, reaching $42.56. The company had a trading volume of 631,553 shares, compared to its average volume of 838,500. The business's 50 day moving average price is $40.27 and its 200-day moving average price is $38.61. Rapid7, Inc. has a 1-year low of $32.94 and a 1-year high of $61.88. The firm has a market cap of $2.69 billion, a PE ratio of 67.56 and a beta of 0.95.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.14. The business had revenue of $214.65 million during 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 company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 earnings per share. On average, analysts expect that Rapid7, Inc. will post 0.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of Rapid7 from a "hold" rating to a "buy" rating in a report on Wednesday, November 27th. Truist Financial cut 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. Jefferies Financial Group assumed coverage on shares of Rapid7 in a research note on Wednesday, October 16th. They issued a "buy" rating and a $50.00 price objective for the company. DA Davidson upped their target price on Rapid7 from $35.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target on Rapid7 from $40.00 to $42.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Fourteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Rapid7 presently has an average rating of "Hold" and a consensus price target of $44.59.

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.