UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 28,089 Shares of Rapid7, Inc. (NASDAQ:RPD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,080,283 shares of the technology company’s stock after selling 28,089 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.71% of Rapid7 worth $43,092,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Comerica Bank grew its holdings in Rapid7 by 1.1% during the first quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock worth $1,243,000 after purchasing an additional 281 shares during the period. 1620 Investment Advisors Inc. boosted its stake in shares of Rapid7 by 14.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after acquiring an additional 352 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Rapid7 by 10.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock worth $185,000 after acquiring an additional 400 shares during the last quarter. Arizona State Retirement System raised its stake in Rapid7 by 2.8% in the 2nd quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock valued at $750,000 after acquiring an additional 465 shares during the period. Finally, nVerses Capital LLC lifted its holdings in Rapid7 by 26.1% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the technology company’s stock valued at $125,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Buying and Selling

In related news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now owns 17,460 shares of the company’s stock, valued at $698,400. This trade represents a 17.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RPD has been the topic of several research analyst reports. Truist Financial dropped their price objective on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Piper Sandler lowered their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. DA Davidson boosted their price objective on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and decreased their target price for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Finally, Scotiabank dropped their price target on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.59.

Rapid7 Trading Up 0.0 %

NASDAQ RPD opened at $42.56 on Wednesday. The firm’s 50 day simple moving average is $40.15 and its 200 day simple moving average is $38.58. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 67.38 and a beta of 0.95. Rapid7, Inc. has a 1 year low of $32.94 and a 1 year high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.14. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The company had revenue of $214.65 million for the quarter, compared to analyst estimates of $210.04 million. During the same quarter last year, the company posted $0.11 EPS. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research analysts forecast that Rapid7, Inc. will post 0.98 earnings per share for the current year.

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.