Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC lowered its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 39.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,142 shares of the technology company’s stock after selling 1,390 shares during the quarter. Headlands Technologies LLC’s holdings in Rapid7 were worth $122,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Rapid7 by 2.2% during the third quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock worth $322,337,000 after buying an additional 148,440 shares during the period. Hawk Ridge Capital Management LP increased its holdings in shares of Rapid7 by 757.7% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock valued at $72,894,000 after purchasing an additional 1,406,619 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Rapid7 by 40.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,237,023 shares of the technology company’s stock valued at $56,631,000 after buying an additional 355,192 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Rapid7 by 11.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 856,355 shares of the technology company’s stock worth $49,143,000 after acquiring an additional 86,633 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Rapid7 by 10.6% in the 3rd quarter. Legal & General Group Plc now owns 699,818 shares of the technology company’s stock worth $32,038,000 after acquiring an additional 66,935 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the sale, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares in the company, valued at $11,541,261.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew F. Burton sold 31,727 shares of the business’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 value of $1,683,751.89. Following the sale, the chief operating officer now directly owns 257,494 shares in the company, valued at approximately $13,665,206.58. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Rapid7 Trading Down 0.5 %

RPD opened at $45.68 on Tuesday. The company’s 50-day moving average price is $50.97 and its 200 day moving average price is $53.07. Rapid7, Inc. has a fifty-two week low of $39.49 and a fifty-two week high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.27. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. The business had revenue of $205.27 million for the quarter, compared to analysts’ expectations of $201.52 million. Equities analysts expect that Rapid7, Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RPD shares. StockNews.com cut shares of Rapid7 from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Scotiabank started coverage on shares of Rapid7 in a report on Friday. They issued a “sector perform” rating and a $46.00 target price for the company. Citigroup upgraded Rapid7 from a “neutral” rating to a “buy” rating and increased their target price for the company from $54.00 to $65.00 in a research note on Tuesday, January 9th. JPMorgan Chase & Co. dropped their price objective on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Finally, Barclays raised their price target on shares of Rapid7 from $58.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.56.

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.