Rapid7 Inc (RPD) Position Reduced by Wasatch Advisors Inc.

Wasatch Advisors Inc. decreased its holdings in shares of Rapid7 Inc (NASDAQ:RPD) by 22.0% during the first quarter, HoldingsChannel.com reports. The firm owned 1,280,067 shares of the technology company’s stock after selling 361,192 shares during the period. Wasatch Advisors Inc.’s holdings in Rapid7 were worth $64,784,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Oregon Public Employees Retirement Fund increased its holdings in Rapid7 by 39.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,992 shares of the technology company’s stock worth $1,315,000 after acquiring an additional 7,352 shares in the last quarter. Spark Investment Management LLC increased its holdings in Rapid7 by 56.1% in the 1st quarter. Spark Investment Management LLC now owns 105,400 shares of the technology company’s stock worth $5,334,000 after acquiring an additional 37,870 shares in the last quarter. Raymond James & Associates increased its holdings in Rapid7 by 20.8% in the 1st quarter. Raymond James & Associates now owns 62,471 shares of the technology company’s stock worth $3,162,000 after acquiring an additional 10,756 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Rapid7 by 55.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 12,892 shares of the technology company’s stock worth $652,000 after acquiring an additional 4,621 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new stake in Rapid7 in the 1st quarter worth $832,000. 83.91% of the stock is currently owned by institutional investors and hedge funds.

In other news, COO Andrew F. Burton sold 15,360 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $44.89, for a total transaction of $689,510.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas E. Schodorf sold 600 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $51.00, for a total transaction of $30,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 141,887 shares of company stock worth $7,104,136. Corporate insiders own 4.90% of the company’s stock.

Shares of RPD stock traded down $1.37 on Thursday, hitting $51.14. 3,599 shares of the stock traded hands, compared to its average volume of 636,412. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 2.18. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -51.36 and a beta of 1.20. Rapid7 Inc has a twelve month low of $26.27 and a twelve month high of $57.00.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.24. The firm had revenue of $73.20 million for the quarter, compared to analysts’ expectations of $69.86 million. Rapid7 had a negative net margin of 19.35% and a negative return on equity of 46.34%. The company’s revenue was up 34.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.19) EPS. As a group, equities research analysts predict that Rapid7 Inc will post -0.61 EPS for the current year.

Several brokerages have issued reports on RPD. Northland Securities reaffirmed a “buy” rating and set a $64.00 target price on shares of Rapid7 in a research note on Friday, May 3rd. Macquarie raised shares of Rapid7 from a “neutral” rating to an “outperform” rating in a research note on Monday, March 11th. BTIG Research lifted their target price on shares of Rapid7 to $62.00 and gave the stock a “positive” rating in a research note on Friday, May 3rd. Zacks Investment Research raised shares of Rapid7 from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Tuesday, February 5th. Finally, Robert W. Baird began coverage on shares of Rapid7 in a research note on Wednesday, April 3rd. They set an “outperform” rating and a $58.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $55.19.

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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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