Nisa Investment Advisors LLC Sells 780 Shares of Rapid7, Inc. (NASDAQ:RPD)

Nisa Investment Advisors LLC trimmed its position in Rapid7, Inc. (NASDAQ:RPD) by 57.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 576 shares of the technology company’s stock after selling 780 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Rapid7 were worth $33,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in Rapid7 by 3,367.9% during the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after acquiring an additional 943 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Rapid7 during the 3rd quarter worth approximately $87,000. Strs Ohio lifted its stake in Rapid7 by 100.0% in the 3rd quarter. Strs Ohio now owns 2,600 shares of the technology company’s stock valued at $119,000 after purchasing an additional 1,300 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Rapid7 by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock valued at $134,000 after buying an additional 336 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Rapid7 during the third quarter worth $162,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the transaction, the chief operating officer now owns 257,494 shares of the company’s stock, valued at approximately $13,665,206.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the transaction, the chief operating officer now directly owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the transaction, the chief operating officer now owns 236,841 shares in the company, valued at $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RPD has been the topic of several recent research reports. Barclays raised their price objective on Rapid7 from $58.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. UBS Group upgraded Rapid7 from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $53.00 to $70.00 in a report on Monday, January 29th. Citigroup upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and raised their price objective for the company from $54.00 to $65.00 in a report on Tuesday, January 9th. StockNews.com lowered shares of Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price target on shares of Rapid7 in a research note on Thursday, February 8th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Rapid7 presently has a consensus rating of “Hold” and a consensus price target of $56.20.

Rapid7 Trading Up 0.9 %

Shares of Rapid7 stock opened at $44.72 on Tuesday. The business has a 50-day moving average price of $52.07 and a two-hundred day moving average price of $53.14. Rapid7, Inc. has a 1-year low of $39.49 and a 1-year high of $61.88. The company has a market cap of $2.77 billion, a P/E ratio of -17.82 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.13 by $0.27. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. The business had revenue of $205.27 million during the quarter, compared to analysts’ expectations of $201.52 million. Equities research analysts forecast that Rapid7, Inc. will post 0.86 EPS for the current fiscal year.

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.