Meitav Dash Investments Ltd. cut its stake in shares of Rapid7 Inc (NASDAQ:RPD) by 3.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,381 shares of the technology company’s stock after selling 1,203 shares during the quarter. Meitav Dash Investments Ltd. owned approximately 0.06% of Rapid7 worth $1,506,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of RPD. SQN Investors LP raised its holdings in Rapid7 by 260.8% during the 4th quarter. SQN Investors LP now owns 1,567,865 shares of the technology company’s stock worth $48,855,000 after purchasing an additional 1,133,289 shares during the last quarter. Macquarie Group Ltd. bought a new stake in Rapid7 during the 4th quarter worth about $27,223,000. Pictet Asset Management Ltd. bought a new stake in Rapid7 during the 1st quarter worth about $21,259,000. First Trust Advisors LP raised its holdings in Rapid7 by 305.0% during the 1st quarter. First Trust Advisors LP now owns 423,415 shares of the technology company’s stock worth $21,429,000 after purchasing an additional 318,869 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC bought a new stake in Rapid7 during the 4th quarter worth about $9,237,000. 88.90% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the company. Nomura assumed coverage on Rapid7 in a research report on Friday. They set a “buy” rating and a $70.00 target price for the company. Cowen started coverage on Rapid7 in a research report on Thursday, May 23rd. They issued an “outperform” rating and a $63.00 price objective for the company. Zacks Investment Research lowered Rapid7 from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. DA Davidson boosted their price objective on Rapid7 to $52.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Finally, Morgan Stanley set a $53.00 price objective on Rapid7 and gave the company a “hold” rating in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $56.06.
Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.24. Rapid7 had a negative return on equity of 46.34% and a negative net margin of 19.35%. The business had revenue of $73.20 million for the quarter, compared to analysts’ expectations of $69.86 million. During the same quarter in the prior year, the business earned ($0.19) EPS. The firm’s revenue for the quarter was up 34.3% on a year-over-year basis. Analysts anticipate that Rapid7 Inc will post -0.61 EPS for the current year.
In other news, Director Timothy P. Mcadam sold 10,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $52.51, for a total transaction of $525,100.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Corey E. Thomas sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $52.58, for a total value of $262,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,137 shares of company stock worth $6,705,192. Insiders own 4.90% of the company’s stock.
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.
Recommended Story: What is a put option?
Receive News & Ratings for Rapid7 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rapid7 and related companies with MarketBeat.com's FREE daily email newsletter.