Woodline Partners LP Has $2.36 Million Stake in Rapid7, Inc. (NASDAQ:RPD)

Woodline Partners LP trimmed its position in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 65.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 58,597 shares of the technology company's stock after selling 112,047 shares during the period. Woodline Partners LP owned about 0.09% of Rapid7 worth $2,357,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RPD. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock valued at $46,000 after purchasing an additional 455 shares during the last quarter. Pacer Advisors Inc. grew its position in 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 buying an additional 347 shares during the period. Ostrum Asset Management boosted its position in shares of Rapid7 by 45.3% in the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after purchasing an additional 772 shares during the period. KBC Group NV lifted its holdings in shares of Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company's stock worth $108,000 after buying an additional 867 shares in the last quarter. Finally, One68 Global Capital LLC purchased a new stake in Rapid7 during the fourth quarter valued at $201,000. 95.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Rapid7 from a "hold" rating to a "buy" rating in a research report on Friday, February 21st. Truist Financial decreased their price objective on shares of Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. Barclays decreased their target price on shares of Rapid7 from $26.00 to $25.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 13th. Stephens assumed coverage on shares of Rapid7 in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $33.00 target price for the company. Finally, Piper Sandler reduced their price objective on shares of Rapid7 from $35.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $33.32.

Insider Activity

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the stock in a transaction dated 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 directly owns 58,165 shares in the company, valued at $1,344,774.80. This represents a 17.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Rapid7 Price Performance

Shares of NASDAQ RPD traded up $0.20 during trading on Friday, hitting $23.04. 97,588 shares of the company were exchanged, compared to its average volume of 842,316. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 59.01 and a beta of 1.06. Rapid7, Inc. has a 1 year low of $21.61 and a 1 year high of $44.48. The firm's fifty day moving average price is $24.24 and its 200 day moving average price is $32.73.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced 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. 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 the consensus estimate of $208.25 million. During the same quarter in the previous year, the company posted $0.55 EPS. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. On average, 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.