Granahan Investment Management LLC Cuts Position in Rapid7, Inc. (NASDAQ:RPD)

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

Other large investors have also made changes to their positions in the company. 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 worth $46,000 after purchasing an additional 455 shares in the last quarter. Pacer Advisors Inc. raised its position in Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock worth $60,000 after purchasing an additional 347 shares in the last quarter. Ostrum Asset Management raised its position 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 raised its position in 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 purchasing an additional 867 shares in the last quarter. Finally, One68 Global Capital LLC acquired a new position in Rapid7 in the fourth quarter worth about $201,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Wall Street Analyst Weigh In

RPD has been the subject of several recent research reports. Canaccord Genuity Group dropped their price target on shares of Rapid7 from $43.00 to $39.00 and set a "hold" rating for the company in a research report on Wednesday. DA Davidson reaffirmed an "underperform" rating and set a $21.00 price objective (down previously from $29.00) on shares of Rapid7 in a report on Tuesday. Raymond James dropped their price objective on shares of Rapid7 from $45.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday. UBS Group dropped their price objective on shares of Rapid7 from $52.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, Citigroup dropped their price objective 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. One equities 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $33.32.

Rapid7 Price Performance

NASDAQ RPD traded down $0.72 during trading on Wednesday, reaching $23.84. 1,029,893 shares of the company's stock were exchanged, compared to its average volume of 860,183. The business has a 50 day moving average price of $25.41 and a 200-day moving average price of $34.08. The stock has a market capitalization of $1.53 billion, a P/E ratio of 61.13 and a beta of 1.06. Rapid7, Inc. has a fifty-two week low of $21.61 and a fifty-two week high of $44.48.

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

Insider Buying and Selling

In related news, insider Christina Luconi sold 12,551 shares of Rapid7 stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 58,165 shares in the company, valued at approximately $1,344,774.80. The trade was a 17.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.

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.