Castleark Management LLC Sells 20,430 Shares of Rapid7, Inc. (NASDAQ:RPD)

Castleark Management LLC decreased its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 36.9% in the first quarter, HoldingsChannel reports. The firm owned 34,910 shares of the technology company’s stock after selling 20,430 shares during the quarter. Castleark Management LLC’s holdings in Rapid7 were worth $1,712,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fidelis Capital Partners LLC bought a new position in shares of Rapid7 in the 1st quarter worth approximately $36,000. Mather Group LLC. bought a new position in shares of Rapid7 in the 1st quarter worth approximately $42,000. International Assets Investment Management LLC raised its position in shares of Rapid7 by 3,367.9% in the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after acquiring an additional 943 shares in the last quarter. Financial Connections Group Inc. bought a new position in shares of Rapid7 in the 4th quarter worth approximately $95,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Rapid7 in the 1st quarter worth approximately $83,000. Institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RPD. Canaccord Genuity Group decreased their target price on Rapid7 from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Truist Financial reduced their price objective on Rapid7 from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Barclays reduced their price objective on Rapid7 from $60.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $46.00 price objective on shares of Rapid7 in a research report on Wednesday, July 10th. Finally, Scotiabank began coverage on Rapid7 in a research report on Friday, April 26th. They set a “sector perform” rating and a $46.00 price objective for the company. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.40.

Rapid7 Stock Down 6.9 %

Shares of Rapid7 stock traded down $2.70 on Thursday, reaching $36.64. The company’s stock had a trading volume of 881,793 shares, compared to its average volume of 906,163. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -17.81 and a beta of 0.98. The firm’s fifty day simple moving average is $38.97 and its two-hundred day simple moving average is $46.56. Rapid7, Inc. has a 52 week low of $35.08 and a 52 week high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. Rapid7 had a negative return on equity of 31.09% and a negative net margin of 15.14%. The business had revenue of $205.10 million for the quarter, compared to the consensus estimate of $204.10 million. As a group, research analysts predict that Rapid7, Inc. will post 0.75 EPS for the current year.

Rapid7 Company 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.