Freshford Capital Management LLC Sells 979,570 Shares of Rapid7, Inc. (NASDAQ:RPD)

Freshford Capital Management LLC decreased its stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 73.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,524 shares of the technology company's stock after selling 979,570 shares during the quarter. Rapid7 makes up about 4.1% of Freshford Capital Management LLC's investment portfolio, making the stock its 12th largest position. Freshford Capital Management LLC owned 0.57% of Rapid7 worth $14,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of RPD. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock valued at $46,000 after acquiring an additional 455 shares during the last quarter. Pacer Advisors Inc. raised its position in Rapid7 by 30.4% in the 4th 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 boosted its stake in 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 in the last quarter. KBC Group NV grew its holdings in shares of Rapid7 by 47.7% during the fourth 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 last quarter. Finally, Cibc World Markets Corp bought a new position in shares of Rapid7 in the fourth quarter valued at about $233,000. 95.66% of the stock is currently owned by institutional investors.

Rapid7 Stock Down 0.9 %

Shares of RPD traded down $0.22 on Monday, hitting $23.85. The company's stock had a trading volume of 170,345 shares, compared to its average volume of 885,020. The firm's fifty day moving average price is $26.90 and its 200-day moving average price is $35.38. Rapid7, Inc. has a fifty-two week low of $21.61 and a fifty-two week high of $46.84. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 61.11 and a beta of 0.99.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. As a group, equities analysts predict that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapid7

In other news, insider Christina Luconi sold 12,551 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

RPD has been the topic of a number of research analyst reports. Stifel Nicolaus decreased their price objective on shares of Rapid7 from $42.00 to $38.00 and set a "hold" rating on the stock in a report on Thursday, February 13th. Citigroup lowered their price target on shares of Rapid7 from $46.00 to $44.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Robert W. Baird reduced their price objective on Rapid7 from $43.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. StockNews.com raised Rapid7 from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. Finally, Raymond James cut their price target on Rapid7 from $55.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $37.32.

About Rapid7

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.