Balyasny Asset Management L.P. Has $2.49 Million Stake in Rapid7, Inc. (NASDAQ:RPD)

Balyasny Asset Management L.P. lowered its stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 81.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 61,877 shares of the technology company's stock after selling 273,594 shares during the period. Balyasny Asset Management L.P. owned 0.10% of Rapid7 worth $2,489,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of 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. grew its holdings in shares of Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock valued at $60,000 after purchasing an additional 347 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 valued at $100,000 after purchasing an additional 772 shares during the last quarter. KBC Group NV raised its position in shares of Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company's stock worth $108,000 after purchasing an additional 867 shares during the period. Finally, One68 Global Capital LLC bought a new stake in shares of Rapid7 in the 4th quarter worth approximately $201,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Wall Street Analysts Forecast Growth

RPD has been the subject of a number of recent research reports. Truist Financial lowered their price objective on Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. Stephens initiated coverage on shares of Rapid7 in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $33.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of Rapid7 from $36.00 to $29.00 and set a "neutral" rating on the stock in a research report on Monday. Mizuho set a $30.00 price target on Rapid7 in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus dropped their price target on shares of Rapid7 from $38.00 to $29.00 and set a "hold" rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, fourteen have assigned 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 stock presently has an average rating of "Hold" and an average price target of $33.32.

Rapid7 Trading Up 0.7%

Shares of NASDAQ RPD traded up $0.17 during mid-day trading on Friday, reaching $23.72. The company had a trading volume of 831,416 shares, compared to its average volume of 855,364. The company has a 50-day moving average price of $25.32 and a two-hundred day moving average price of $33.96. The stock has a market cap of $1.52 billion, a PE ratio of 60.82 and a beta of 1.06. Rapid7, Inc. has a 1-year low of $21.61 and a 1-year high of $44.48.

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

Insider Transactions at Rapid7

In other news, insider Christina Luconi sold 12,551 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the sale, the insider now 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 sale was disclosed in a filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by insiders.

Rapid7 Company 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.