Algert Global LLC Sells 31,434 Shares of Rapid7, Inc. (NASDAQ:RPD)

Algert Global LLC reduced its stake in Rapid7, Inc. (NASDAQ:RPD) by 25.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,519 shares of the technology company’s stock after selling 31,434 shares during the period. Algert Global LLC’s holdings in Rapid7 were worth $3,611,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Rapid7 by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 511,088 shares of the technology company’s stock worth $20,387,000 after acquiring an additional 9,190 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Rapid7 in the third quarter worth about $695,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Rapid7 by 36.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,951 shares of the technology company’s stock valued at $3,429,000 after purchasing an additional 22,734 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Rapid7 by 924.6% during the third quarter. Quest Partners LLC now owns 8,320 shares of the technology company’s stock valued at $332,000 after purchasing an additional 7,508 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Rapid7 by 9.7% in the 3rd quarter. Principal Financial Group Inc. now owns 47,661 shares of the technology company’s stock worth $1,901,000 after purchasing an additional 4,214 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Rapid7 Stock Down 0.3 %

Rapid7 stock opened at $42.74 on Tuesday. The business has a 50-day simple moving average of $39.18 and a two-hundred day simple moving average of $38.39. Rapid7, Inc. has a 52-week low of $32.94 and a 52-week high of $61.88. The company has a market cap of $2.70 billion, a P/E ratio of 67.84 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The business had revenue of $214.65 million during the quarter, compared to analysts’ expectations of $210.04 million. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 earnings per share. Research analysts anticipate that Rapid7, Inc. will post 0.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on RPD. Jefferies Financial Group assumed coverage on Rapid7 in a research note on Wednesday, October 16th. They set a “buy” rating and a $50.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th. Baird R W downgraded shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada cut shares of Rapid7 from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $50.00 to $40.00 in a report on Friday, September 20th. Finally, StockNews.com cut shares of Rapid7 from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Fifteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rapid7 presently has an average 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 firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now owns 17,460 shares in the company, valued at approximately $698,400. This trade represents a 17.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is owned by insiders.

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.