Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 47.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,556 shares of the technology company’s stock after selling 40,395 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Rapid7 worth $1,833,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. boosted its position in shares of Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after acquiring an additional 347 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Rapid7 during the 3rd quarter worth about $69,000. KBC Group NV boosted its position in shares of Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after acquiring an additional 867 shares in the last quarter. FORA Capital LLC acquired a new position in shares of Rapid7 during the 3rd quarter worth about $209,000. Finally, Versor Investments LP acquired a new position in shares of Rapid7 during the 4th quarter worth about $266,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the sale, the chief executive officer now owns 431,469 shares in the company, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by insiders.

Rapid7 Price Performance

RPD opened at $29.05 on Wednesday. The stock has a market cap of $1.86 billion, a P/E ratio of 74.49 and a beta of 0.92. The stock’s 50 day simple moving average is $34.75 and its 200 day simple moving average is $37.75. Rapid7, Inc. has a 1-year low of $26.77 and a 1-year high of $51.99.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.12 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%. Research analysts expect that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RPD. Scotiabank decreased their target price 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. Morgan Stanley began coverage on Rapid7 in a research note on Tuesday. They set an “equal weight” rating and a $33.00 price objective for the company. Truist Financial reduced their price objective on Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Jefferies Financial Group reduced their price objective on Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Fifteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Rapid7 has a consensus rating of “Hold” and a consensus target price of $40.50.

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.