Man Group plc Reduces Position in Rapid7, Inc. (NASDAQ:RPD)

Man Group plc reduced its stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 29.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,645 shares of the technology company's stock after selling 24,503 shares during the period. Man Group plc owned 0.09% of Rapid7 worth $2,400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS purchased a new stake in shares of Rapid7 in the 4th quarter valued at about $539,000. Raymond James Financial Inc. acquired a new position in Rapid7 during the fourth quarter worth approximately $12,050,000. Principal Financial Group Inc. lifted its stake in Rapid7 by 13.9% in the fourth quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company's stock valued at $2,185,000 after buying an additional 6,645 shares during the last quarter. Invesco Ltd. lifted its stake in Rapid7 by 5.4% in the fourth quarter. Invesco Ltd. now owns 36,487 shares of the technology company's stock valued at $1,468,000 after buying an additional 1,860 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Rapid7 by 17.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,900 shares of the technology company's stock valued at $358,000 after acquiring an additional 1,335 shares during the period. Institutional investors and hedge funds own 95.66% of the company's stock.

Rapid7 Price Performance

Shares of NASDAQ RPD traded down $0.29 during trading on Wednesday, hitting $22.94. 58,976 shares of the company were exchanged, compared to its average volume of 846,427. Rapid7, Inc. has a 1 year low of $21.61 and a 1 year high of $44.48. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 58.90 and a beta of 1.06. The firm's fifty day moving average price is $24.50 and its 200 day moving average price is $32.93.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The technology company reported $0.49 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $208.25 million. During the same quarter last year, the business earned $0.55 earnings per share. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, research analysts forecast that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Christina Luconi sold 12,551 shares of Rapid7 stock in a transaction on 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 $1,344,774.80. The trade was a 17.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RPD shares. Royal Bank of Canada reaffirmed a "sector perform" rating on shares of Rapid7 in a report on Tuesday, May 13th. Raymond James dropped their price target on Rapid7 from $45.00 to $40.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Mizuho set a $30.00 price objective on Rapid7 in a research note on Wednesday, April 16th. 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. Finally, JPMorgan Chase & Co. dropped their target price on Rapid7 from $36.00 to $29.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Rapid7 currently has an average rating of "Hold" and a consensus price target of $33.32.

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.