Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC lowered its stake in Rapid7, Inc. (NASDAQ:RPD) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,039,324 shares of the technology company’s stock after selling 57,466 shares during the period. Rapid7 makes up approximately 0.9% of Penserra Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Penserra Capital Management LLC owned about 1.66% of Rapid7 worth $41,458,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after purchasing an additional 661 shares in the last quarter. Quest Partners LLC acquired a new position in Rapid7 during the 2nd quarter worth approximately $35,000. Summit Securities Group LLC purchased a new position in shares of Rapid7 during the 2nd quarter worth approximately $43,000. Financial Connections Group Inc. acquired a new stake in shares of Rapid7 in the 2nd quarter valued at approximately $72,000. Finally, Point72 Hong Kong Ltd boosted its stake in shares of Rapid7 by 315.0% in the second quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock valued at $90,000 after buying an additional 1,575 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a report on Wednesday, August 7th. Robert W. Baird downgraded shares of Rapid7 from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $56.00 to $45.00 in a research report on Thursday, August 1st. Scotiabank decreased their price target on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. UBS Group dropped their price objective on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Royal Bank of Canada cut Rapid7 from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $50.00 to $40.00 in a report on Friday, September 20th. Fifteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $44.59.

Insider Buying and Selling

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the sale, the director now directly owns 17,460 shares in the company, 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 through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Rapid7 Stock Performance

Shares of RPD opened at $42.86 on Friday. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 68.03 and a beta of 0.96. Rapid7, Inc. has a 1 year low of $32.94 and a 1 year high of $61.88. The company’s 50 day simple moving average is $39.18 and its 200 day simple moving average is $38.44.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The business had revenue of $214.65 million for the quarter, compared to analysts’ expectations of $210.04 million. During the same quarter last year, the firm earned $0.11 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. Equities 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.