Cornercap Investment Counsel Inc. Sells 5,299 Shares of Rapid7, Inc. (NASDAQ:RPD)

Cornercap Investment Counsel Inc. lessened its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 50.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,207 shares of the technology company’s stock after selling 5,299 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Rapid7 were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in RPD. Principal Financial Group Inc. boosted its stake in Rapid7 by 9.7% in the third quarter. Principal Financial Group Inc. now owns 47,661 shares of the technology company’s stock valued at $1,901,000 after buying an additional 4,214 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Rapid7 by 3.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 125,678 shares of the technology company’s stock valued at $5,013,000 after purchasing an additional 3,634 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Rapid7 by 491.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 80,464 shares of the technology company’s stock valued at $3,210,000 after purchasing an additional 66,854 shares during the last quarter. 1620 Investment Advisors Inc. increased its position in 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 purchasing an additional 352 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Rapid7 in the 3rd quarter valued at approximately $948,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insiders Place Their Bets

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 17,460 shares of the company’s stock, valued at approximately $698,400. The trade was a 17.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RPD. Baird R W cut shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and lowered their target price for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. DA Davidson increased their target price on Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on Rapid7 from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a report on Wednesday, August 7th. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $44.59.

Rapid7 Price Performance

Shares of Rapid7 stock opened at $39.33 on Tuesday. The business has a 50-day simple moving average of $38.58 and a 200 day simple moving average of $38.46. Rapid7, Inc. has a one year low of $32.94 and a one year high of $61.88. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 62.43 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 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 firm had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts expect that Rapid7, Inc. will post 0.98 EPS 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.