Zurcher Kantonalbank Zurich Cantonalbank Has $2.20 Million Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 21.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 38,527 shares of the technology company’s stock after selling 10,819 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rapid7 were worth $2,200,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in Rapid7 by 3,367.9% during the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after buying an additional 943 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in Rapid7 during the 3rd quarter worth approximately $87,000. Financial Connections Group Inc. acquired a new stake in Rapid7 during the 4th quarter worth approximately $95,000. Strs Ohio raised its holdings in Rapid7 by 100.0% during the 3rd quarter. Strs Ohio now owns 2,600 shares of the technology company’s stock worth $119,000 after buying an additional 1,300 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Rapid7 by 13.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock worth $134,000 after buying an additional 336 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on RPD shares. Citigroup upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $54.00 to $65.00 in a report on Tuesday, January 9th. StockNews.com downgraded shares of Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. lowered their price objective on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, February 8th. UBS Group upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $53.00 to $70.00 in a report on Monday, January 29th. Finally, Barclays lifted their price objective on shares of Rapid7 from $58.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Rapid7 has an average rating of “Hold” and a consensus price target of $56.20.

Insiders Place Their Bets

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the completion of the sale, the chief operating officer now owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the sale, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Rapid7 Price Performance

NASDAQ:RPD opened at $46.17 on Wednesday. Rapid7, Inc. has a 1-year low of $39.49 and a 1-year high of $61.88. The firm has a fifty day simple moving average of $52.07 and a 200 day simple moving average of $53.14.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.27. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. The firm had revenue of $205.27 million during the quarter, compared to analysts’ expectations of $201.52 million. As a group, equities research analysts predict that Rapid7, Inc. will post 0.86 earnings per share 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.