Point72 Asset Management L.P. Decreases Holdings in Rapid7, Inc. (NASDAQ:RPD)

Point72 Asset Management L.P. lessened its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 54.2% during the 4th quarter, HoldingsChannel reports. The firm owned 1,485,477 shares of the technology company’s stock after selling 1,758,147 shares during the period. Point72 Asset Management L.P.’s holdings in Rapid7 were worth $59,761,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. grew its stake in shares of Rapid7 by 30.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after buying an additional 347 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Rapid7 by 0.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock worth $2,782,000 after buying an additional 446 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after purchasing an additional 455 shares during the last quarter. Ostrum Asset Management grew its holdings in shares of Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after purchasing an additional 772 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Rapid7 by 47.7% during the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after acquiring an additional 867 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Rapid7 Stock Performance

RPD opened at $23.55 on Friday. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 60.38 and a beta of 1.06. Rapid7, Inc. has a one year low of $21.61 and a one year high of $44.48. The business’s fifty day moving average is $25.32 and its two-hundred day moving average is $33.96.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. The firm had revenue of $210.25 million during the quarter, compared to the consensus estimate of $208.25 million. During the same period last year, the firm posted $0.55 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts predict that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RPD has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Rapid7 from $36.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday. StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Piper Sandler lowered their target price on shares of Rapid7 from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday. Mizuho set a $30.00 price target on shares of Rapid7 in a research note on Wednesday, April 16th. Finally, Morgan Stanley raised their price objective on shares of Rapid7 from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $33.32.

Insider Buying and Selling

In related news, insider Christina Luconi sold 12,551 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the transaction, the insider now owns 58,165 shares of the company’s stock, valued at approximately $1,344,774.80. The trade was a 17.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

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.