Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its position in Rapid7, Inc. (NASDAQ:RPDGet Rating) by 86.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,501 shares of the technology company’s stock after selling 34,994 shares during the quarter. Russell Investments Group Ltd.’s holdings in Rapid7 were worth $367,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Elequin Capital LP acquired a new position in Rapid7 in the 1st quarter valued at about $25,000. Signaturefd LLC lifted its holdings in shares of Rapid7 by 37.1% during the first quarter. Signaturefd LLC now owns 421 shares of the technology company’s stock worth $47,000 after purchasing an additional 114 shares during the period. Prospera Financial Services Inc purchased a new position in Rapid7 in the 1st quarter valued at $52,000. Captrust Financial Advisors increased its stake in Rapid7 by 117.8% in the 1st quarter. Captrust Financial Advisors now owns 1,479 shares of the technology company’s stock valued at $165,000 after buying an additional 800 shares during the period. Finally, Keebeck Alpha LP acquired a new position in Rapid7 in the 1st quarter valued at $210,000.

Rapid7 Stock Down 6.6 %

RPD opened at $26.80 on Tuesday. The firm’s 50 day moving average is $46.28 and its 200-day moving average is $62.41. Rapid7, Inc. has a 52-week low of $26.49 and a 52-week high of $142.43. The firm has a market capitalization of $1.56 billion, a P/E ratio of -9.78 and a beta of 1.37.

Rapid7 (NASDAQ:RPDGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The technology company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.06. The firm had revenue of $175.77 million for the quarter, compared to analysts’ expectations of $176.13 million. Equities analysts expect that Rapid7, Inc. will post -2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RPD. Robert W. Baird reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Rapid7 in a report on Wednesday, October 19th. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research note on Thursday, October 27th. Morgan Stanley decreased their price target on Rapid7 from $80.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, October 24th. KeyCorp cut their price objective on Rapid7 from $86.00 to $57.00 and set an “overweight” rating for the company in a research report on Monday, October 24th. Finally, Wolfe Research cut shares of Rapid7 from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 3rd. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Rapid7 has a consensus rating of “Hold” and a consensus price target of $68.63.

Rapid7 Company Profile

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Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a solution that integrates posture management, workload protection, infrastructure entitlements management, infrastructure-as-code security, and Kubernetes protection; InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.

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Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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