Los Angeles Capital Management LLC Sells 4,312 Shares of Rapid7, Inc. (NASDAQ:RPD)

Los Angeles Capital Management LLC lowered its holdings in Rapid7, Inc. (NASDAQ:RPD) by 20.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,284 shares of the technology company’s stock after selling 4,312 shares during the period. Los Angeles Capital Management LLC’s holdings in Rapid7 were worth $650,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in shares of Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after purchasing an additional 661 shares in the last quarter. Quest Partners LLC bought a new position in Rapid7 in the 2nd quarter valued at about $35,000. Summit Securities Group LLC acquired a new position in shares of Rapid7 in the 2nd quarter valued at approximately $43,000. Financial Connections Group Inc. bought a new stake in shares of Rapid7 during the 2nd quarter worth approximately $72,000. Finally, Point72 Hong Kong Ltd boosted its position in shares of Rapid7 by 315.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock worth $90,000 after acquiring an additional 1,575 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $39.98 on Friday. The company’s 50 day moving average price is $38.49 and its 200-day moving average price is $38.55. Rapid7, Inc. has a 52-week low of $32.94 and a 52-week high of $61.88. The company has a market capitalization of $2.53 billion, a P/E ratio of 63.46 and a beta of 0.96.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RPD shares. Baird R W cut Rapid7 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Robert W. Baird cut shares of Rapid7 from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $56.00 to $45.00 in a report on Thursday, August 1st. Truist Financial decreased their price target on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. Finally, Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and dropped their price objective for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Rapid7 currently has an average rating of “Hold” and a consensus price target of $44.59.

Insiders Place Their Bets

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the sale, the director now directly owns 17,460 shares in the company, valued at approximately $698,400. This trade represents a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

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.