Rhumbline Advisers lessened its holdings in Rapid7 Inc (NASDAQ:RPD) by 0.8% during the 1st quarter, Holdings Channel reports. The firm owned 48,850 shares of the technology company’s stock after selling 395 shares during the period. Rhumbline Advisers’ holdings in Rapid7 were worth $2,472,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RPD. Moors & Cabot Inc. acquired a new position in Rapid7 during the first quarter worth $1,664,000. Menta Capital LLC bought a new position in Rapid7 during the first quarter worth $288,000. Quantamental Technologies LLC bought a new position in Rapid7 during the first quarter worth $76,000. Private Capital Group LLC boosted its position in Rapid7 by 80.4% during the first quarter. Private Capital Group LLC now owns 745 shares of the technology company’s stock worth $38,000 after purchasing an additional 332 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Rapid7 by 1,019.1% during the first quarter. BNP Paribas Arbitrage SA now owns 8,494 shares of the technology company’s stock worth $430,000 after purchasing an additional 7,735 shares during the period. 88.93% of the stock is currently owned by institutional investors.

In related news, COO Andrew F. Burton sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $48.53, for a total transaction of $727,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy P. Mcadam sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $52.51, for a total transaction of $525,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 154,027 shares of company stock valued at $7,857,600. 4.90% of the stock is currently owned by company insiders.

Shares of Rapid7 stock opened at $48.01 on Tuesday. The stock has a market capitalization of $2.52 billion, a PE ratio of -47.53 and a beta of 1.17. Rapid7 Inc has a 52-week low of $26.27 and a 52-week high of $57.00. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.49 and a quick ratio of 1.49.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Thursday, May 2nd. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.24. The company had revenue of $73.20 million during the quarter, compared to analysts’ expectations of $69.86 million. Rapid7 had a negative net margin of 19.35% and a negative return on equity of 46.34%. Rapid7’s quarterly revenue was up 34.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.19) earnings per share. As a group, analysts anticipate that Rapid7 Inc will post -0.61 earnings per share for the current year.

A number of research firms have commented on RPD. KeyCorp lifted their price objective on shares of Rapid7 from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Needham & Company LLC lifted their price objective on shares of Rapid7 from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Zacks Investment Research cut shares of Rapid7 from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Cowen began coverage on shares of Rapid7 in a research report on Thursday, May 23rd. They set an “outperform” rating and a $63.00 price objective for the company. Finally, Mizuho began coverage on shares of Rapid7 in a research report on Tuesday, March 26th. They set a “buy” rating and a $59.00 price objective for the company. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Rapid7 has a consensus rating of “Buy” and a consensus target price of $55.19.

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Rapid7 Company Profile

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

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Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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