Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,830 shares of the technology company’s stock after selling 2,000 shares during the quarter. Primecap Management Co. CA owned about 0.15% of Rapid7 worth $3,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its stake in shares of Rapid7 by 252.0% during the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock worth $164,236,000 after purchasing an additional 2,719,791 shares in the last quarter. Cannae Holdings Inc. acquired a new position in Rapid7 during the 2nd quarter worth approximately $15,130,000. SG Americas Securities LLC boosted its holdings in Rapid7 by 7,688.6% in the 2nd quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock worth $7,141,000 after acquiring an additional 163,075 shares during the period. 272 Capital LP acquired a new stake in Rapid7 in the second quarter valued at approximately $6,979,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Rapid7 during the second quarter valued at approximately $6,106,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the transaction, the director now directly owns 17,460 shares of the company’s stock, valued at $698,400. This represents a 17.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RPD. UBS Group decreased their target price on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Baird R W downgraded Rapid7 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson boosted their price target on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird lowered Rapid7 from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $56.00 to $45.00 in a research note on Thursday, August 1st. Finally, Royal Bank of Canada lowered Rapid7 from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $50.00 to $40.00 in a research report on Friday, September 20th. Fifteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $44.59.

Rapid7 Stock Up 1.0 %

Shares of RPD stock opened at $42.86 on Friday. The company has a market cap of $2.71 billion, a P/E ratio of 68.03 and a beta of 0.96. The business has a 50 day moving average of $39.01 and a two-hundred day moving average of $38.46. Rapid7, Inc. has a 52 week low of $32.94 and a 52 week high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data 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 firm had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 EPS. Analysts expect that Rapid7, Inc. will post 0.98 EPS for the current fiscal year.

Rapid7 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.