Zurcher Kantonalbank Zurich Cantonalbank Trims Stake in Rapid7, Inc. (NASDAQ:RPD)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,223 shares of the technology company’s stock after selling 1,285 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rapid7 were worth $748,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. JANA Partners Management LP boosted its position in shares of Rapid7 by 0.9% during the fourth quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company’s stock worth $148,454,000 after buying an additional 34,589 shares during the period. Penserra Capital Management LLC boosted its holdings in Rapid7 by 95.8% during the 1st quarter. Penserra Capital Management LLC now owns 1,880,084 shares of the technology company’s stock valued at $49,841,000 after acquiring an additional 919,955 shares during the period. Shapiro Capital Management LLC grew its position in Rapid7 by 295.9% in the 4th quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock valued at $51,935,000 after acquiring an additional 964,899 shares in the last quarter. First Trust Advisors LP increased its stake in Rapid7 by 6.8% during the fourth quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company’s stock worth $50,518,000 after purchasing an additional 79,836 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Rapid7 by 17.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 919,434 shares of the technology company’s stock worth $36,993,000 after purchasing an additional 133,967 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Susquehanna dropped their price objective on shares of Rapid7 from $40.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Raymond James Financial decreased their price target on shares of Rapid7 from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Morgan Stanley upped their price objective on Rapid7 from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 13th. Mizuho reduced their price objective on Rapid7 from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. Finally, Scotiabank decreased their target price on Rapid7 from $38.00 to $29.00 and set a “sector perform” rating for the company in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.84.

Rapid7 Trading Down 2.7%

Shares of Rapid7 stock opened at $20.17 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 16.87. The company has a fifty day simple moving average of $23.08 and a 200-day simple moving average of $26.81. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 51.72 and a beta of 0.96. Rapid7, Inc. has a 12-month low of $20.07 and a 12-month high of $44.48.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Monday, May 12th. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.12. Rapid7 had a net margin of 3.42% and a return on equity of 2,043.18%. The company had revenue of $210.25 million during the quarter, compared to the consensus estimate of $208.25 million. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Rapid7’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities analysts forecast that Rapid7, Inc. will post 0.35 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.