Point72 Asset Management L.P. Has $59.76 Million Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Point72 Asset Management L.P. lowered its position in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 54.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,485,477 shares of the technology company's stock after selling 1,758,147 shares during the quarter. Point72 Asset Management L.P. owned 2.35% of Rapid7 worth $59,761,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ increased 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 worth $46,000 after buying an additional 455 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock worth $60,000 after acquiring an additional 347 shares in the last quarter. Ostrum Asset Management increased its position in shares of Rapid7 by 45.3% in the 4th 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 last quarter. KBC Group NV raised its stake in shares of Rapid7 by 47.7% in the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company's stock valued at $108,000 after purchasing an additional 867 shares in the last quarter. Finally, One68 Global Capital LLC acquired a new stake in shares of Rapid7 in the 4th quarter valued at about $201,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Raymond James decreased their price target on Rapid7 from $45.00 to $40.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. StockNews.com upgraded Rapid7 from a "hold" rating to a "buy" rating in a research report on Friday, February 21st. Truist Financial lowered their price target on Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 13th. Barclays dropped their price target on Rapid7 from $26.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 13th. Finally, Piper Sandler decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Rapid7 currently has an average rating of "Hold" and an average price target of $33.32.

Insiders Place Their Bets

In other news, insider Christina Luconi sold 12,551 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $23.12, for a total transaction of $290,179.12. Following the completion of the transaction, the insider now owns 58,165 shares in the company, valued at approximately $1,344,774.80. This trade represents a 17.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.60% of the stock is owned by insiders.

Rapid7 Stock Performance

Shares of RPD traded down $0.58 during mid-day trading on Wednesday, reaching $22.78. 213,846 shares of the company's stock traded hands, compared to its average volume of 850,334. The business's 50-day moving average price is $25.07 and its 200-day moving average price is $33.55. The stock has a market capitalization of $1.46 billion, a P/E ratio of 58.51 and a beta of 1.06. Rapid7, Inc. has a 12 month low of $21.61 and a 12 month high of $44.48.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share (EPS) 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 company had revenue of $210.25 million during the quarter, compared to analysts' expectations of $208.25 million. During the same quarter in the prior year, the business posted $0.55 earnings per share. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Rapid7, Inc. will post 0.35 EPS for the current 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.