New York State Common Retirement Fund Sells 1,600 Shares of Rapid7 Inc (RPD)

New York State Common Retirement Fund decreased its stake in shares of Rapid7 Inc (NASDAQ:RPD) by 2.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 57,558 shares of the technology company’s stock after selling 1,600 shares during the quarter. New York State Common Retirement Fund owned 0.12% of Rapid7 worth $1,794,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Rapid7 by 6.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,281,950 shares of the technology company’s stock worth $121,170,000 after purchasing an additional 190,540 shares during the period. Vanguard Group Inc boosted its position in shares of Rapid7 by 6.2% during the 3rd quarter. Vanguard Group Inc now owns 3,281,950 shares of the technology company’s stock valued at $121,170,000 after acquiring an additional 190,540 shares in the last quarter. BlackRock Inc. boosted its position in shares of Rapid7 by 2.4% during the 3rd quarter. BlackRock Inc. now owns 2,619,925 shares of the technology company’s stock valued at $96,727,000 after acquiring an additional 62,532 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Rapid7 by 3,076.7% during the 3rd quarter. Alliancebernstein L.P. now owns 1,226,757 shares of the technology company’s stock valued at $45,292,000 after acquiring an additional 1,188,140 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Rapid7 by 8.6% during the 3rd quarter. Renaissance Technologies LLC now owns 1,085,596 shares of the technology company’s stock valued at $40,080,000 after acquiring an additional 86,396 shares in the last quarter. Institutional investors own 86.12% of the company’s stock.

Several brokerages have recently weighed in on RPD. KeyCorp reiterated a “buy” rating and set a $60.00 target price (up from $50.00) on shares of Rapid7 in a research report on Monday. Barclays lifted their target price on shares of Rapid7 from $48.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday. DA Davidson lifted their target price on shares of Rapid7 to $40.00 and gave the company a “neutral” rating in a research report on Friday, February 8th. They noted that the move was a valuation call. Mizuho assumed coverage on shares of Rapid7 in a research report on Tuesday, March 26th. They issued a “buy” rating and a $59.00 price target on the stock. Finally, BTIG Research upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Tuesday, January 15th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $48.13.

In other Rapid7 news, COO Andrew F. Burton sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $36.40, for a total value of $546,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Peter Kaes sold 9,809 shares of the company’s stock in a transaction that occurred on Tuesday, January 29th. The shares were sold at an average price of $38.00, for a total transaction of $372,742.00. The disclosure for this sale can be found here. Insiders sold 177,955 shares of company stock valued at $7,956,923 in the last ninety days. Insiders own 25.60% of the company’s stock.

Shares of RPD traded down $0.52 on Monday, reaching $51.90. 314,327 shares of the company’s stock were exchanged, compared to its average volume of 663,071. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -51.39 and a beta of 1.20. Rapid7 Inc has a 12 month low of $26.27 and a 12 month high of $53.87.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Thursday, February 7th. The technology company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.04. The business had revenue of $70.64 million during the quarter, compared to the consensus estimate of $66.66 million. Rapid7 had a negative net margin of 22.76% and a negative return on equity of 57.61%. Rapid7’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.17) earnings per share. As a group, analysts expect that Rapid7 Inc will post -0.49 EPS for the current year.

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Rapid7 Profile

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

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Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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