Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. cut its position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 81.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,877 shares of the technology company's stock after selling 273,594 shares during the period. Balyasny Asset Management L.P. owned approximately 0.10% of Rapid7 worth $2,489,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ boosted its position in Rapid7 by 68.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock valued at $46,000 after buying an additional 455 shares during the period. Pacer Advisors Inc. boosted its position in 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. Ostrum Asset Management boosted its position in Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock valued at $100,000 after buying an additional 772 shares during the period. KBC Group NV boosted its position in Rapid7 by 47.7% in the 4th 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 during the period. Finally, One68 Global Capital LLC purchased a new stake in Rapid7 in the 4th quarter valued at about $201,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Rapid7 Stock Performance

NASDAQ RPD traded up $0.17 during mid-day trading on Friday, reaching $23.72. 831,416 shares of the stock were exchanged, compared to its average volume of 855,003. The business's 50 day moving average is $25.24 and its 200-day moving average is $33.74. Rapid7, Inc. has a 1 year low of $21.61 and a 1 year high of $44.48. The company has a market capitalization of $1.52 billion, a P/E ratio of 60.82 and a beta of 1.06.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $208.25 million. During the same period in the prior year, the firm posted $0.55 earnings per share. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. Equities analysts predict that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Royal Bank of Canada restated a "sector perform" rating on shares of Rapid7 in a report on Tuesday, May 13th. StockNews.com upgraded shares of Rapid7 from a "hold" rating to a "buy" rating in a report on Friday, February 21st. Canaccord Genuity Group reduced their price target on shares of Rapid7 from $43.00 to $39.00 and set a "hold" rating for the company in a report on Wednesday. Citigroup reduced their price target on shares of Rapid7 from $46.00 to $44.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Rapid7 from $36.00 to $29.00 and set a "neutral" rating for the company in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $33.32.

Insider Buying and Selling

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $23.12, for a total transaction of $290,179.12. Following the transaction, the insider now directly owns 58,165 shares of the company's stock, valued at $1,344,774.80. This trade represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently 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.