California Public Employees Retirement System Sells 4,606 Shares of Rapid7, Inc. (NASDAQ:RPD)

California Public Employees Retirement System lowered its position in Rapid7, Inc. (NASDAQ:RPD) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,628 shares of the technology company’s stock after selling 4,606 shares during the period. California Public Employees Retirement System’s holdings in Rapid7 were worth $5,974,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC increased 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 purchasing an additional 943 shares in the last quarter. Financial Connections Group Inc. bought a new position in Rapid7 during the 4th quarter worth about $95,000. Strs Ohio increased 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 purchasing an additional 1,300 shares in the last quarter. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 336 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Rapid7 during the 3rd quarter worth about $162,000. Institutional investors own 95.66% of the company’s stock.

Insiders Place Their Bets

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 236,841 shares in the company, valued at $11,541,261.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 236,841 shares in the company, valued at $11,541,261.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew F. Burton sold 31,727 shares of the firm’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 in the company, valued at $13,665,206.58. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on RPD shares. Citigroup upgraded Rapid7 from a “neutral” rating to a “buy” rating and increased their target price for the stock 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 research note on Wednesday, March 6th. UBS Group upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $53.00 to $70.00 in a research note on Monday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of Rapid7 in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Rapid7 currently has a consensus rating of “Hold” and an average price target of $55.56.

Rapid7 Trading Up 1.1 %

Shares of NASDAQ:RPD opened at $45.21 on Friday. Rapid7, Inc. has a 52-week low of $39.49 and a 52-week high of $61.88. The company has a 50-day simple moving average of $49.82 and a 200 day simple moving average of $52.87.

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

About Rapid7

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.