Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp decreased its position in Rapid7, Inc. (NASDAQ:RPD) by 17.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,545 shares of the technology company’s stock after selling 21,184 shares during the period. Heritage Investors Management Corp owned about 0.15% of Rapid7 worth $3,924,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Harbor Capital Advisors Inc. increased its holdings in Rapid7 by 259.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock worth $11,625,000 after acquiring an additional 208,501 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of Rapid7 in the third quarter valued at about $6,647,000. Thematics Asset Management increased its stake in shares of Rapid7 by 33.0% during the third quarter. Thematics Asset Management now owns 399,000 shares of the technology company’s stock worth $15,916,000 after purchasing an additional 99,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Rapid7 by 102.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 187,500 shares of the technology company’s stock worth $7,479,000 after purchasing an additional 94,800 shares during the last quarter. Finally, 272 Capital LP raised its position in shares of Rapid7 by 33.4% during the 3rd quarter. 272 Capital LP now owns 215,287 shares of the technology company’s stock worth $8,588,000 after purchasing an additional 53,849 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Activity

In other news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the sale, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on RPD. Citigroup cut their price objective on Rapid7 from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Scotiabank dropped their price target on Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Truist Financial decreased their price objective on Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus dropped their target price on shares of Rapid7 from $42.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Finally, Piper Sandler reduced their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Fifteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.22.

Rapid7 Stock Down 1.9 %

RPD stock opened at $30.20 on Thursday. Rapid7, Inc. has a 52-week low of $30.13 and a 52-week high of $59.43. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 77.44 and a beta of 0.96. The business has a fifty day moving average of $37.97 and a two-hundred day moving average of $38.63.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. As a group, sell-side analysts anticipate that Rapid7, Inc. will post 0.35 EPS for the current year.

About Rapid7

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.