Wells Fargo & Company MN cut its position in shares of Rapid7 Inc (NASDAQ:RPD) by 11.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,220 shares of the technology company’s stock after selling 13,556 shares during the period. Wells Fargo & Company MN owned about 0.25% of Rapid7 worth $1,905,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RPD. Citigroup Inc. boosted its stake in Rapid7 by 1,398.9% in the 2nd quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock valued at $165,000 after buying an additional 9,135 shares in the last quarter. BT Investment Management Ltd acquired a new stake in Rapid7 in the 2nd quarter valued at $169,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Rapid7 by 25.8% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 10,352 shares of the technology company’s stock valued at $173,000 after buying an additional 2,124 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Rapid7 in the 3rd quarter valued at $187,000. Finally, Menta Capital LLC acquired a new stake in Rapid7 in the 2nd quarter valued at $227,000. Institutional investors and hedge funds own 68.50% of the company’s stock.
In related news, major shareholder Bain Capital Venture Investors sold 2,000,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $21.01, for a total value of $42,020,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alan Matthews sold 20,000 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $22.06, for a total value of $441,200.00. The disclosure for this sale can be found here. Insiders sold 3,346,228 shares of company stock valued at $67,486,717 in the last quarter. 56.90% of the stock is currently owned by corporate insiders.
Several analysts recently commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $23.00 price target on shares of Rapid7 in a research note on Thursday, December 14th. Northland Securities set a $28.00 price objective on Rapid7 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Zacks Investment Research lowered Rapid7 from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. Royal Bank of Canada reissued a “buy” rating and issued a $30.00 price objective on shares of Rapid7 in a research note on Friday, January 26th. Finally, BidaskClub lowered Rapid7 from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $23.41.
Shares of Rapid7 Inc (NASDAQ RPD) traded up $0.57 on Friday, hitting $23.73. The stock had a trading volume of 615,593 shares, compared to its average volume of 487,207. The firm has a market capitalization of $1,050.00 and a price-to-earnings ratio of -23.97. Rapid7 Inc has a twelve month low of $13.30 and a twelve month high of $25.95.
Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Tuesday, November 7th. The technology company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. The business had revenue of $50.50 million during the quarter, compared to the consensus estimate of $49.87 million. Rapid7 had a negative return on equity of 115.79% and a negative net margin of 22.44%. The firm’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.13) earnings per share. sell-side analysts expect that Rapid7 Inc will post -1.06 EPS for the current fiscal year.
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Rapid7 Company Profile
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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