Raymond James Financial Services Advisors Inc. trimmed its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 23.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,991 shares of the technology company’s stock after selling 3,629 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Rapid7 were worth $202,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. grew its holdings in Rapid7 by 1,398.9% during the 2nd quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock worth $165,000 after acquiring an additional 9,135 shares in the last quarter. BT Investment Management Ltd acquired a new position in Rapid7 during the 2nd quarter worth $169,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Rapid7 by 25.8% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 10,352 shares of the technology company’s stock worth $173,000 after acquiring an additional 2,124 shares in the last quarter. American International Group Inc. grew its holdings in Rapid7 by 7.1% during the 1st quarter. American International Group Inc. now owns 12,257 shares of the technology company’s stock worth $184,000 after acquiring an additional 815 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in Rapid7 during the 1st quarter worth $218,000. 71.80% of the stock is owned by institutional investors and hedge funds.
RPD has been the subject of several recent analyst reports. Needham & Company LLC assumed coverage on shares of Rapid7 in a report on Monday, October 23rd. They set a “buy” rating and a $23.00 price objective for the company. ValuEngine downgraded shares of Rapid7 from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Rapid7 from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Zacks Investment Research downgraded shares of Rapid7 from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Finally, UBS AG upgraded shares of Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 price target on the stock in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $20.83.
Rapid7, Inc. (RPD) opened at $19.36 on Tuesday. Rapid7, Inc. has a 52-week low of $11.26 and a 52-week high of $20.25.
Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Tuesday, November 7th. The technology company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. The firm had revenue of $50.50 million for the quarter, compared to the consensus estimate of $49.87 million. Rapid7 had a negative net margin of 22.44% and a negative return on equity of 115.79%. Rapid7’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.13) EPS. research analysts anticipate that Rapid7, Inc. will post -1.03 earnings per share for the current fiscal year.
In other Rapid7 news, Chairman Alan Matthews sold 52,770 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $17.22, for a total transaction of $908,699.40. Following the sale, the chairman now directly owns 3,152,177 shares in the company, valued at approximately $54,280,487.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lee David Weiner sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $17.15, for a total transaction of $343,000.00. Following the sale, the insider now owns 76,212 shares in the company, valued at $1,307,035.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,895 shares of company stock worth $2,379,911. 56.90% of the stock is currently owned by insiders.
Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.
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