Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC lowered its holdings in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 78.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,248 shares of the technology company's stock after selling 64,910 shares during the quarter. Granahan Investment Management LLC's holdings in Rapid7 were worth $734,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RPD. Skandinaviska Enskilda Banken AB publ raised its position in 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 purchasing an additional 455 shares during the period. Pacer Advisors Inc. grew its stake in shares of Rapid7 by 30.4% in 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 in the last quarter. Ostrum Asset Management grew its stake 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 valued at $100,000 after buying an additional 772 shares in the last quarter. KBC Group NV grew its stake 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 valued at $108,000 after buying an additional 867 shares in the last quarter. Finally, One68 Global Capital LLC acquired a new stake in shares of Rapid7 in the fourth quarter valued at $201,000. Hedge funds and other institutional investors own 95.66% of the company's stock.

Rapid7 Stock Performance

Rapid7 stock traded up $0.07 during mid-day trading on Friday, reaching $23.62. 327,837 shares of the company were exchanged, compared to its average volume of 853,415. Rapid7, Inc. has a twelve month low of $21.61 and a twelve month high of $44.48. The firm's 50-day simple moving average is $25.32 and its two-hundred day simple moving average is $33.96. The firm has a market cap of $1.52 billion, a PE ratio of 60.56 and a beta of 1.06.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its quarterly earnings data 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. Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. The company had revenue of $210.25 million during the quarter, compared to analysts' expectations of $208.25 million. During the same period last year, the firm earned $0.55 EPS. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Rapid7, Inc. will post 0.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RPD. Morgan Stanley lifted their price objective on Rapid7 from $26.00 to $28.00 and gave the company an "equal weight" rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price objective on Rapid7 from $36.00 to $29.00 and set a "neutral" rating for the company in a research note on Monday. Canaccord Genuity Group dropped their price objective on Rapid7 from $43.00 to $39.00 and set a "hold" rating for the company in a research note on Wednesday. Stephens began coverage on Rapid7 in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $33.00 price objective for the company. Finally, Raymond James dropped their price objective on Rapid7 from $45.00 to $40.00 and set an "outperform" rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $33.32.

Insider Activity

In other news, insider Christina Luconi sold 12,551 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at $1,344,774.80. This trade represents a 17.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.60% of the company's stock.

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.