AtonRa Partners Lowers Holdings in Rapid7, Inc. (NASDAQ:RPD)

AtonRa Partners trimmed its holdings in Rapid7, Inc. (NASDAQ:RPD) by 15.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,849 shares of the technology company’s stock after selling 855 shares during the quarter. AtonRa Partners’ holdings in Rapid7 were worth $277,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RPD. International Assets Investment Management LLC boosted its holdings in Rapid7 by 3,367.9% in the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after purchasing an additional 943 shares during the last quarter. Financial Connections Group Inc. acquired a new position in shares of Rapid7 in the fourth quarter worth about $95,000. Strs Ohio raised its position in shares of Rapid7 by 100.0% in the third quarter. Strs Ohio now owns 2,600 shares of the technology company’s stock worth $119,000 after acquiring an additional 1,300 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Rapid7 by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock worth $134,000 after acquiring an additional 336 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Rapid7 in the third quarter worth about $162,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Rapid7

In other news, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the sale, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the transaction, the chief operating officer now directly owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the transaction, the chief operating officer now owns 236,841 shares in the company, valued at $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Rapid7 Price Performance

Shares of Rapid7 stock traded down $0.25 during trading on Monday, hitting $45.68. 408,176 shares of the stock were exchanged, compared to its average volume of 711,518. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -18.45 and a beta of 1.01. The firm’s 50-day moving average price is $50.97 and its 200 day moving average price is $53.07. Rapid7, Inc. has a 12-month low of $39.49 and a 12-month high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.27. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. The firm had revenue of $205.27 million during the quarter, compared to analysts’ expectations of $201.52 million. As a group, research analysts forecast that Rapid7, Inc. will post 0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RPD shares. JPMorgan Chase & Co. reduced their price target on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Barclays increased their price objective on shares of Rapid7 from $58.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Citigroup upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and increased their price objective for the company from $54.00 to $65.00 in a report on Tuesday, January 9th. UBS Group upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and increased their price objective for the company from $53.00 to $70.00 in a report on Monday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of Rapid7 in a report on Thursday, February 8th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Rapid7 presently has a consensus rating of “Hold” and an average target price of $55.56.

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.