Pendal Group Ltd trimmed its holdings in shares of Rapid7 Inc (NASDAQ:RPD) by 40.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,337 shares of the technology company’s stock after selling 36,416 shares during the quarter. Pendal Group Ltd’s holdings in Rapid7 were worth $2,006,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Centaurus Financial Inc. acquired a new stake in shares of Rapid7 in the second quarter valued at about $169,000. Verition Fund Management LLC acquired a new stake in shares of Rapid7 in the second quarter valued at about $327,000. Harvest Fund Management Co. Ltd grew its position in shares of Rapid7 by 598.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 8,918 shares of the technology company’s stock valued at $329,000 after purchasing an additional 7,642 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its position in shares of Rapid7 by 47.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 11,796 shares of the technology company’s stock valued at $333,000 after purchasing an additional 3,793 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of Rapid7 by 64.2% in the second quarter. Cubist Systematic Strategies LLC now owns 13,674 shares of the technology company’s stock valued at $386,000 after purchasing an additional 5,345 shares during the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the company. KeyCorp raised their price target on Rapid7 from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, August 7th. Monness Crespi & Hardt raised their price target on Rapid7 from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, August 7th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $40.00 price target on shares of Rapid7 in a research report on Tuesday, August 7th. Zacks Investment Research raised Rapid7 from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, October 10th. Finally, BidaskClub upgraded shares of Rapid7 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Rapid7 currently has an average rating of “Buy” and a consensus price target of $35.79.
NASDAQ RPD opened at $34.72 on Friday. Rapid7 Inc has a twelve month low of $17.64 and a twelve month high of $39.40.
Rapid7 (NASDAQ:RPD) last released its earnings results on Tuesday, November 6th. The technology company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.05. Rapid7 had a negative net margin of 23.83% and a negative return on equity of 89.66%. The business had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $59.50 million. During the same quarter last year, the company earned ($0.15) earnings per share. The firm’s revenue was up 23.6% on a year-over-year basis. As a group, equities analysts forecast that Rapid7 Inc will post -1.01 EPS for the current fiscal year.
In other Rapid7 news, COO Andrew F. Burton sold 7,440 shares of the firm’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $36.24, for a total transaction of $269,625.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Andrew F. Burton sold 7,000 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $36.23, for a total transaction of $253,610.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 235,732 shares of company stock valued at $8,852,242. 25.60% of the stock is owned by corporate insiders.
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Rapid7 Company Profile
Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.
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