Brinker Capital Investments LLC Decreases Stake in Rapid7, Inc. (NASDAQ:RPD)

Brinker Capital Investments LLC lessened its stake in Rapid7, Inc. (NASDAQ:RPD – Get Rating) by 8.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 21,820 shares of the technology company’s stock after selling 2,143 shares during the quarter. Brinker Capital Investments LLC’s holdings in Rapid7 were worth $936,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of Rapid7 by 43.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,306,095 shares of the technology company’s stock worth $87,247,000 after acquiring an additional 396,586 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Rapid7 by 1,235.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 294,777 shares of the technology company’s stock worth $12,646,000 after acquiring an additional 272,701 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Rapid7 by 51.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 730,851 shares of the technology company’s stock worth $48,821,000 after acquiring an additional 249,517 shares in the last quarter. Wasatch Advisors Inc. raised its position in shares of Rapid7 by 11.0% during the 1st quarter. Wasatch Advisors Inc. now owns 2,454,833 shares of the technology company’s stock worth $273,076,000 after acquiring an additional 243,040 shares in the last quarter. Finally, Natixis raised its position in shares of Rapid7 by 1,785.5% during the 2nd quarter. Natixis now owns 147,105 shares of the technology company’s stock worth $9,831,000 after acquiring an additional 139,303 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Insiders Place Their Bets

In other Rapid7 news, CEO Corey E. Thomas sold 41,619 shares of the business’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $36.68, for a total transaction of $1,526,584.92. Following the sale, the chief executive officer now directly owns 428,074 shares in the company, valued at $15,701,754.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Rapid7 news, CEO Corey E. Thomas sold 41,619 shares of the business’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $36.68, for a total transaction of $1,526,584.92. Following the sale, the chief executive officer now directly owns 428,074 shares in the company, valued at $15,701,754.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Timothy M. Adams purchased 2,500 shares of the business’s stock in a transaction dated Monday, December 5th. The stock was bought at an average cost of $30.00 per share, with a total value of $75,000.00. Following the completion of the acquisition, the chief financial officer now owns 109,294 shares of the company’s stock, valued at $3,278,820. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 124,857 shares of company stock worth $3,923,423. 2.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RPD has been the topic of several research analyst reports. Morgan Stanley cut their price target on Rapid7 from $55.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, December 19th. KeyCorp cut their price target on Rapid7 from $86.00 to $57.00 and set an “overweight” rating on the stock in a research report on Monday, October 24th. Mizuho cut their price target on Rapid7 from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, December 8th. Barclays lowered Rapid7 from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $40.00 to $37.00 in a research report on Wednesday, January 4th. Finally, Wolfe Research lowered Rapid7 from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 3rd. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $62.53.

Rapid7 Stock Performance

Rapid7 stock opened at $35.35 on Monday. Rapid7, Inc. has a 1-year low of $26.49 and a 1-year high of $118.25. The stock’s 50 day moving average price is $32.46 and its 200 day moving average price is $46.60.

Rapid7 (NASDAQ:RPD – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The technology company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.06. The business had revenue of $175.77 million during the quarter, compared to analysts’ expectations of $176.13 million. As a group, sell-side analysts forecast that Rapid7, Inc. will post -1.86 EPS for the current fiscal year.

About Rapid7

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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.