Nomura Holdings Inc. Sells 1,110,811 Shares of Rapid7, Inc. (NASDAQ:RPD)

Nomura Holdings Inc. reduced its position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 84.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 210,601 shares of the technology company's stock after selling 1,110,811 shares during the period. Nomura Holdings Inc. owned 0.33% of Rapid7 worth $8,472,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Nuveen Asset Management LLC grew its holdings in shares of Rapid7 by 158.0% during the 4th quarter. Nuveen Asset Management LLC now owns 428,423 shares of the technology company's stock worth $17,235,000 after purchasing an additional 262,382 shares in the last quarter. Needham Investment Management LLC acquired a new position in shares of Rapid7 in the 4th quarter valued at $3,017,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Rapid7 by 17.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 919,434 shares of the technology company's stock valued at $36,993,000 after buying an additional 133,967 shares in the last quarter. Graham Capital Management L.P. boosted its position in shares of Rapid7 by 11.8% during the 4th quarter. Graham Capital Management L.P. now owns 17,230 shares of the technology company's stock valued at $693,000 after acquiring an additional 1,813 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in Rapid7 in the fourth quarter valued at about $592,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Barclays dropped their price objective on Rapid7 from $26.00 to $25.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 13th. Piper Sandler cut their price target on shares of Rapid7 from $35.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Canaccord Genuity Group decreased their price objective on shares of Rapid7 from $43.00 to $39.00 and set a "hold" rating on the stock in a research note on Wednesday, May 14th. Citigroup cut their target price on shares of Rapid7 from $46.00 to $44.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Truist Financial decreased their price target on Rapid7 from $38.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $33.32.

Insider Buying and Selling at Rapid7

In other 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company's stock.

Rapid7 Stock Performance

RPD traded up $0.11 during trading on Tuesday, reaching $23.25. 162,350 shares of the stock were exchanged, compared to its average volume of 850,843. The stock's 50 day moving average price is $25.14 and its two-hundred day moving average price is $33.62. Rapid7, Inc. has a twelve month low of $21.61 and a twelve month high of $44.48. The stock has a market cap of $1.49 billion, a P/E ratio of 59.53 and a beta of 1.06.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.12. The business had revenue of $210.25 million during the quarter, compared to the consensus estimate of $208.25 million. Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. Rapid7's revenue was up 2.5% on a year-over-year basis. During the same period last year, the business posted $0.55 EPS. Equities research analysts predict that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

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.