Park Avenue Securities LLC Sells 868 Shares of Rapid7, Inc. (NASDAQ:RPD)

Park Avenue Securities LLC lessened its stake in Rapid7, Inc. (NASDAQ:RPDGet Rating) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,372 shares of the technology company’s stock after selling 868 shares during the period. Park Avenue Securities LLC’s holdings in Rapid7 were worth $316,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in Rapid7 by 43.6% in the second quarter. Goldman Sachs Group Inc. now owns 1,306,095 shares of the technology company’s stock valued at $87,247,000 after purchasing an additional 396,586 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in 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 valued at $12,646,000 after buying an additional 272,701 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 valued at $48,821,000 after buying an additional 249,517 shares during the last quarter. Wasatch Advisors Inc. boosted its position in Rapid7 by 11.0% during the 1st quarter. Wasatch Advisors Inc. now owns 2,454,833 shares of the technology company’s stock valued at $273,076,000 after buying an additional 243,040 shares during the period. Finally, Natixis grew its holdings in Rapid7 by 1,785.5% in 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 during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RPD. Berenberg Bank initiated coverage on shares of Rapid7 in a report on Thursday, October 20th. They set a “hold” rating and a $44.00 target price for the company. Canaccord Genuity Group cut their price objective on Rapid7 from $60.00 to $55.00 in a research report on Thursday, November 3rd. Mizuho decreased their target price on Rapid7 from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, December 8th. DA Davidson assumed coverage on Rapid7 in a research note on Thursday, January 12th. They issued a “neutral” rating and a $34.00 price target for the company. Finally, Raymond James reduced their price objective on shares of Rapid7 from $85.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, November 3rd. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.53.

Insider Buying and Selling at Rapid7

In other news, CEO Corey E. Thomas sold 41,619 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $29.19, for a total value of $1,214,858.61. Following the transaction, the chief executive officer now owns 428,074 shares in the company, valued at $12,495,480.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Rapid7 news, CEO Corey E. Thomas sold 41,619 shares of the company’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $29.19, for a total transaction of $1,214,858.61. Following the transaction, the chief executive officer now owns 428,074 shares in the company, valued at approximately $12,495,480.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy M. Adams purchased 2,500 shares of Rapid7 stock in a transaction dated Monday, December 5th. The stock was bought at an average price of $30.00 per share, with a total value of $75,000.00. Following the completion of the purchase, the chief financial officer now directly owns 109,294 shares of the company’s stock, valued at $3,278,820. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 124,857 shares of company stock worth $3,923,423. 2.80% of the stock is owned by corporate insiders.

Rapid7 Stock Up 4.9 %

RPD stock opened at $35.35 on Monday. The business has a 50 day moving average of $32.46 and a 200 day moving average of $46.60. The firm has a market cap of $2.09 billion, a PE ratio of -12.90 and a beta of 1.16. Rapid7, Inc. has a twelve month low of $26.49 and a twelve month high of $118.25.

Rapid7 (NASDAQ:RPDGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The technology company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.06. The company had revenue of $175.77 million for the quarter, compared to the consensus estimate of $176.13 million. On average, research analysts expect that Rapid7, Inc. will post -1.86 earnings per share for the current fiscal year.

Rapid7 Company Profile

(Get Rating)

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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