Gotham Asset Management LLC Has $1.23 Million Holdings in Rapid7, Inc. (NASDAQ:RPD)

Gotham Asset Management LLC reduced its position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 55.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,568 shares of the technology company's stock after selling 38,189 shares during the quarter. Gotham Asset Management LLC's holdings in Rapid7 were worth $1,230,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Rapid7 by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company's stock valued at $346,721,000 after acquiring an additional 60,095 shares during the period. JANA Partners Management LP boosted its position in Rapid7 by 0.9% during the fourth quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company's stock worth $148,454,000 after purchasing an additional 34,589 shares during the period. First Trust Advisors LP increased its holdings in shares of Rapid7 by 6.8% in the fourth quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company's stock valued at $50,518,000 after purchasing an additional 79,836 shares during the last quarter. Legal & General Group Plc raised its position in shares of Rapid7 by 0.9% in the fourth quarter. Legal & General Group Plc now owns 707,556 shares of the technology company's stock valued at $28,465,000 after purchasing an additional 6,269 shares during the period. Finally, Northern Trust Corp raised its position in shares of Rapid7 by 8.0% in the fourth quarter. Northern Trust Corp now owns 624,936 shares of the technology company's stock valued at $25,141,000 after purchasing an additional 46,351 shares during the period. Institutional investors and hedge funds own 95.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RPD. JPMorgan Chase & Co. reduced their target price 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. Stifel Nicolaus decreased their target price on Rapid7 from $38.00 to $29.00 and set a "hold" rating on the stock in a research report on Tuesday, May 13th. Citigroup lowered their target price on Rapid7 from $46.00 to $44.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Stephens assumed coverage on Rapid7 in a report on Tuesday, April 1st. They set an "equal weight" rating and a $33.00 price target for the company. Finally, Mizuho set a $30.00 price target on Rapid7 in a research note on Wednesday, April 16th. 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 MarketBeat, the company currently has an average rating of "Hold" and an average price target of $33.32.

Insider Buying and Selling at Rapid7

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $23.12, for a total transaction of $290,179.12. Following the completion of the transaction, the insider now owns 58,165 shares of the company's stock, valued at approximately $1,344,774.80. The trade was a 17.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.60% of the company's stock.

Rapid7 Trading Down 1.9%

Rapid7 stock traded down $0.45 during trading hours on Wednesday, reaching $22.91. 676,101 shares of the stock were exchanged, compared to its average volume of 852,115. Rapid7, Inc. has a twelve month low of $21.61 and a twelve month high of $44.48. The company has a market cap of $1.47 billion, a P/E ratio of 58.74 and a beta of 1.06. The stock has a 50 day moving average of $25.07 and a two-hundred day moving average of $33.55.

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