Rapid7, Inc. (NASDAQ:RPD) Position Reduced by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. decreased its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,520 shares of the technology company’s stock after selling 377 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Rapid7 were worth $986,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after purchasing an additional 661 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after purchasing an additional 347 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Rapid7 during the third quarter worth approximately $69,000. KBC Group NV increased its holdings in shares of Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after buying an additional 867 shares in the last quarter. Finally, 1620 Investment Advisors Inc. lifted its position in shares of Rapid7 by 14.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after acquiring an additional 352 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Rapid7 Stock Performance

Shares of RPD stock opened at $38.12 on Friday. The stock’s 50 day simple moving average is $39.98 and its 200 day simple moving average is $38.93. Rapid7, Inc. has a twelve month low of $32.94 and a twelve month high of $61.88. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 60.51 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The business had revenue of $214.65 million for the quarter, compared to the consensus estimate of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. On average, analysts forecast that Rapid7, Inc. will post 0.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RPD. UBS Group decreased their price target on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Citigroup decreased their price target on Rapid7 from $50.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Scotiabank increased their price target on Rapid7 from $39.00 to $42.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Jefferies Financial Group began coverage on Rapid7 in a research report on Wednesday, October 16th. They set a “buy” rating and a $50.00 price objective for the company. Finally, Truist Financial decreased their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Fifteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Rapid7 currently has an average rating of “Hold” and an average price target of $43.76.

Insider Activity at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at $16,991,249.22. The trade was a 18.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is owned by insiders.

About Rapid7

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.