Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Swiss National Bank

Swiss National Bank decreased its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,200 shares of the technology company’s stock after selling 4,700 shares during the quarter. Swiss National Bank’s holdings in Rapid7 were worth $4,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC lifted its position in Rapid7 by 924.6% during the 3rd quarter. Quest Partners LLC now owns 8,320 shares of the technology company’s stock worth $332,000 after acquiring an additional 7,508 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 worth $3,429,000 after purchasing an additional 22,734 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Rapid7 in the third quarter valued at $695,000. Charles Schwab Investment Management Inc. grew its holdings in Rapid7 by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 511,088 shares of the technology company’s stock valued at $20,387,000 after purchasing an additional 9,190 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in Rapid7 by 1,276.4% during the 3rd quarter. Quantbot Technologies LP now owns 44,360 shares of the technology company’s stock worth $1,770,000 after buying an additional 41,137 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the transaction, the chief executive officer now owns 431,469 shares in the company, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

Rapid7 Trading Up 5.0 %

NASDAQ:RPD opened at $29.70 on Tuesday. The stock has a 50 day moving average of $33.96 and a 200-day moving average of $37.53. The firm has a market capitalization of $1.90 billion, a PE ratio of 76.15 and a beta of 0.92. Rapid7, Inc. has a 52 week low of $26.77 and a 52 week high of $50.55.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. As a group, analysts predict that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Robert W. Baird decreased their price objective on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Raymond James dropped their price objective on Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research report on Thursday, February 13th. Finally, Truist Financial dropped their price target on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Fifteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Rapid7 currently has an average rating of “Hold” and a consensus target price of $40.50.

About Rapid7

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.