LPL Financial LLC cut its position in shares of Rapid7 Inc (NASDAQ:RPD) by 56.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,645 shares of the technology company’s stock after selling 19,317 shares during the quarter. LPL Financial LLC’s holdings in Rapid7 were worth $541,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Centaurus Financial Inc. acquired a new position in shares of Rapid7 in the second quarter worth $169,000. Ibex Investors LLC acquired a new position in shares of Rapid7 in the third quarter worth $210,000. People s United Financial Inc. acquired a new position in shares of Rapid7 in the third quarter worth $259,000. Verition Fund Management LLC acquired a new position in shares of Rapid7 in the second quarter worth $327,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in shares of Rapid7 by 598.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 8,918 shares of the technology company’s stock worth $329,000 after acquiring an additional 7,642 shares during the last quarter. 83.43% of the stock is owned by hedge funds and other institutional investors.
In other Rapid7 news, insider Lee David Weiner sold 5,580 shares of the business’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $31.78, for a total transaction of $177,332.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew F. Burton sold 6,780 shares of the business’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $31.79, for a total value of $215,536.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,221,685 shares of company stock valued at $73,293,780. 25.60% of the stock is owned by company insiders.
Rapid7 stock opened at $35.49 on Monday. The firm has a market capitalization of $1.67 billion, a P/E ratio of -33.80 and a beta of 0.85. Rapid7 Inc has a 52 week low of $21.18 and a 52 week high of $39.40. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 1.85.
Rapid7 (NASDAQ:RPD) last released its earnings results on Tuesday, November 6th. The technology company reported ($0.20) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.05. The firm had revenue of $62.40 million during the quarter, compared to analyst estimates of $59.50 million. Rapid7 had a negative return on equity of 76.86% and a negative net margin of 23.83%. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.15) earnings per share. Research analysts predict that Rapid7 Inc will post -1.02 EPS for the current year.
RPD has been the subject of a number of analyst reports. BidaskClub raised Rapid7 from a “hold” rating to a “buy” rating in a report on Tuesday, December 11th. Morgan Stanley set a $35.00 target price on Rapid7 and gave the company a “hold” rating in a research note on Wednesday, November 7th. Needham & Company LLC upped their target price on Rapid7 from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, September 21st. Monness Crespi & Hardt upped their target price on Rapid7 from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, November 7th. Finally, Zacks Investment Research lowered Rapid7 from a “buy” rating to a “hold” rating in a research note on Thursday, November 15th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $36.13.
Rapid7 Company Profile
Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables 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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