Concentric Capital Strategies LP Has $524,000 Stock Holdings in Rapid7, Inc. (NASDAQ:RPD)

Concentric Capital Strategies LP lowered its position in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 70.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,016 shares of the technology company's stock after selling 30,441 shares during the period. Concentric Capital Strategies LP's holdings in Rapid7 were worth $524,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Nordea Investment Management AB increased its holdings in Rapid7 by 100.8% in the fourth quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company's stock valued at $3,030,000 after buying an additional 37,708 shares in the last quarter. Diversified Trust Co increased its stake in Rapid7 by 8.6% in the 4th quarter. Diversified Trust Co now owns 21,534 shares of the technology company's stock valued at $866,000 after purchasing an additional 1,708 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Rapid7 by 259.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company's stock valued at $11,625,000 after purchasing an additional 208,501 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Rapid7 by 106.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 49,155 shares of the technology company's stock worth $1,978,000 after purchasing an additional 25,398 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Rapid7 by 126.6% during the fourth quarter. SG Americas Securities LLC now owns 9,908 shares of the technology company's stock worth $399,000 after purchasing an additional 5,536 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RPD shares. Truist Financial dropped their target price on shares of Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 13th. Needham & Company LLC restated a "hold" rating on shares of Rapid7 in a report on Thursday, February 13th. Stifel Nicolaus dropped their price target on shares of Rapid7 from $38.00 to $29.00 and set a "hold" rating for the company in a research report on Tuesday. Robert W. Baird boosted their price objective on shares of Rapid7 from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Piper Sandler dropped their price target on Rapid7 from $35.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday. One research 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 stock. According to data from MarketBeat, Rapid7 presently 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 firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the transaction, the insider now directly owns 58,165 shares in the company, 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 through this link. 2.60% of the stock is owned by corporate insiders.

Rapid7 Price Performance

RPD traded down $0.55 during trading on Wednesday, hitting $24.01. The company had a trading volume of 391,589 shares, compared to its average volume of 857,810. The company has a market cap of $1.54 billion, a PE ratio of 61.56 and a beta of 1.06. The business has a 50-day moving average of $25.52 and a 200-day moving average of $34.15. 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 earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. The firm had revenue of $210.25 million during the quarter, compared to analyst estimates of $208.25 million. Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share. Research analysts forecast that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Rapid7 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.