Rapid7, Inc. (NASDAQ:RPD) Shares Sold by UBS Group AG
UBS Group AG cut its position in Rapid7, Inc. (NASDAQ:RPD) by 31.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,152 shares of the technology company’s stock after selling 3,765 shares during the period. UBS Group AG’s holdings in Rapid7 were worth $122,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Rapid7 by 6.9% in the first quarter. Geode Capital Management LLC now owns 150,390 shares of the technology company’s stock valued at $2,252,000 after buying an additional 9,667 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Rapid7 by 4.7% in the first quarter. Vanguard Group Inc. now owns 1,341,474 shares of the technology company’s stock valued at $20,096,000 after buying an additional 60,337 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Rapid7 by 7.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 704,087 shares of the technology company’s stock valued at $10,547,000 after buying an additional 49,970 shares in the last quarter. Herald Investment Management Ltd purchased a new position in shares of Rapid7 during the first quarter valued at approximately $1,161,000. Finally, Alliancebernstein L.P. raised its position in shares of Rapid7 by 1.4% in the first quarter. Alliancebernstein L.P. now owns 21,800 shares of the technology company’s stock valued at $327,000 after buying an additional 300 shares in the last quarter. 68.87% of the stock is owned by institutional investors.
Shares of Rapid7, Inc. (RPD) traded up 3.19% during trading on Friday, hitting $15.55. The stock had a trading volume of 237,388 shares. The company’s market cap is $670.38 million. The stock has a 50-day moving average price of $16.43 and a 200 day moving average price of $16.04. Rapid7, Inc. has a 12 month low of $10.63 and a 12 month high of $19.29.
Rapid7 (NASDAQ:RPD) last posted its earnings results on Monday, August 7th. The technology company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.04. The firm had revenue of $47.44 million for the quarter, compared to analyst estimates of $46.31 million. Rapid7 had a negative return on equity of 98.26% and a negative net margin of 23.67%. Rapid7’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period last year, the company earned ($0.22) earnings per share. Equities analysts expect that Rapid7, Inc. will post ($0.62) EPS for the current fiscal year.
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Several brokerages have commented on RPD. Susquehanna Bancshares Inc began coverage on Rapid7 in a research report on Wednesday, June 7th. They set a “neutral” rating and a $20.00 price objective for the company. Royal Bank Of Canada raised their price objective on Rapid7 from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, May 10th. Monness Crespi & Hardt began coverage on Rapid7 in a research report on Tuesday, May 30th. They set a “buy” rating and a $23.00 price objective for the company. Zacks Investment Research lowered Rapid7 from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Northland Securities reissued a “buy” rating and set a $23.00 price objective on shares of Rapid7 in a research report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. Rapid7 presently has a consensus rating of “Hold” and an average target price of $19.94.
In related news, insider Jay C. Hoag sold 1,400,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $18.00, for a total transaction of $25,200,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 37,843 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $16.95, for a total value of $641,438.85. Following the sale, the chief operating officer now directly owns 238,158 shares in the company, valued at $4,036,778.10. The disclosure for this sale can be found here. 56.90% of the stock is owned by company insiders.
Rapid7 Company Profile
Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.
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