California Public Employees Retirement System Decreases Position in Rapid7, Inc. (NASDAQ:RPD)

California Public Employees Retirement System trimmed its position in shares of Rapid7, Inc. (NASDAQ:RPDGet Rating) by 6.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 116,140 shares of the technology company’s stock after selling 7,591 shares during the quarter. California Public Employees Retirement System’s holdings in Rapid7 were worth $7,758,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Swiss National Bank boosted its position in Rapid7 by 8.0% during the second quarter. Swiss National Bank now owns 136,900 shares of the technology company’s stock worth $9,145,000 after purchasing an additional 10,100 shares in the last quarter. Pictet Asset Management SA lifted its position in shares of Rapid7 by 4.7% in the second quarter. Pictet Asset Management SA now owns 1,730,701 shares of the technology company’s stock valued at $115,611,000 after acquiring an additional 77,350 shares in the last quarter. Stanley Laman Group Ltd. purchased a new stake in shares of Rapid7 in the second quarter valued at $2,038,000. Employees Retirement System of Texas lifted its position in shares of Rapid7 by 2.1% in the second quarter. Employees Retirement System of Texas now owns 47,520 shares of the technology company’s stock valued at $3,174,000 after acquiring an additional 1,000 shares in the last quarter. Finally, MQS Management LLC lifted its position in shares of Rapid7 by 9.9% in the second quarter. MQS Management LLC now owns 4,090 shares of the technology company’s stock valued at $273,000 after acquiring an additional 368 shares in the last quarter.

Insider Transactions at Rapid7

In other news, CEO Corey E. Thomas sold 41,619 shares of the company’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $28.40, for a total value of $1,181,979.60. Following the completion of the sale, the chief executive officer now owns 428,074 shares of the company’s stock, valued at $12,157,301.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.80% of the company’s stock.

Rapid7 Price Performance

Shares of NASDAQ:RPD opened at $28.07 on Thursday. The firm has a market capitalization of $1.66 billion, a PE ratio of -10.24 and a beta of 1.37. The business has a 50-day moving average of $39.93 and a two-hundred day moving average of $57.10. Rapid7, Inc. has a 12 month low of $26.49 and a 12 month high of $129.09.

Rapid7 (NASDAQ:RPDGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The technology company reported ($0.39) 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 analyst estimates of $176.13 million. As a group, research analysts anticipate that Rapid7, Inc. will post -1.87 earnings per share for the current year.

Analysts Set New Price Targets

RPD has been the topic of several recent research reports. KeyCorp reduced their price objective on Rapid7 from $86.00 to $57.00 and set an “overweight” rating on the stock in a research report on Monday, October 24th. Canaccord Genuity Group reduced their price objective on Rapid7 from $60.00 to $55.00 in a research report on Thursday, November 3rd. Citigroup reduced their price objective on Rapid7 from $80.00 to $78.00 in a research report on Thursday, August 4th. StockNews.com upgraded Rapid7 from a “sell” rating to a “hold” rating in a research report on Saturday, November 5th. Finally, BTIG Research initiated coverage on Rapid7 in a research report on Friday, September 23rd. They issued a “neutral” rating on the stock. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price 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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