Granahan Investment Management LLC Reduces Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Granahan Investment Management LLC cut its stake in Rapid7, Inc. (NASDAQ:RPD) by 78.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,248 shares of the technology company’s stock after selling 64,910 shares during the quarter. Granahan Investment Management LLC’s holdings in Rapid7 were worth $734,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Rapid7 by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock valued at $346,721,000 after purchasing an additional 60,095 shares during the period. JANA Partners Management LP raised its position in shares of Rapid7 by 0.9% in the fourth quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company’s stock worth $148,454,000 after buying an additional 34,589 shares in the last quarter. First Trust Advisors LP boosted its stake in Rapid7 by 6.8% during the fourth quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company’s stock valued at $50,518,000 after buying an additional 79,836 shares during the period. Legal & General Group Plc grew its position in Rapid7 by 0.9% during the fourth quarter. Legal & General Group Plc now owns 707,556 shares of the technology company’s stock worth $28,465,000 after buying an additional 6,269 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Rapid7 by 8.0% in the 4th quarter. Northern Trust Corp now owns 624,936 shares of the technology company’s stock worth $25,141,000 after acquiring an additional 46,351 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Rapid7 Stock Down 0.4 %

Shares of NASDAQ RPD opened at $25.14 on Friday. The firm’s fifty day moving average is $25.63 and its 200 day moving average is $34.33. Rapid7, Inc. has a 52 week low of $21.61 and a 52 week high of $44.48. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 64.46 and a beta of 1.06.

Rapid7 (NASDAQ:RPD) last released 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 net margin of 3.46% and a negative return on equity of 130.41%. Equities research analysts anticipate that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RPD. Jefferies Financial Group dropped their price target on Rapid7 from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Citigroup cut their price target on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Raymond James lowered their price objective on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Truist Financial cut their target price on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Fourteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $37.32.

Insiders Place Their Bets

In other news, insider Christina Luconi sold 12,551 shares of Rapid7 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 sale, the insider now owns 58,165 shares of the company’s stock, valued at approximately $1,344,774.80. The trade was a 17.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

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.