Algert Global LLC Sells 31,434 Shares of Rapid7, Inc. (NASDAQ:RPD)

Algert Global LLC lowered its position in Rapid7, Inc. (NASDAQ:RPD) by 25.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,519 shares of the technology company’s stock after selling 31,434 shares during the period. Algert Global LLC owned about 0.14% of Rapid7 worth $3,611,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after buying an additional 661 shares during the last quarter. Quest Partners LLC bought a new position in shares of Rapid7 in the second quarter valued at approximately $35,000. Summit Securities Group LLC purchased a new stake in shares of Rapid7 during the second quarter valued at approximately $43,000. Financial Connections Group Inc. bought a new stake in Rapid7 during the second quarter worth $72,000. Finally, Point72 Hong Kong Ltd grew its stake in Rapid7 by 315.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock valued at $90,000 after purchasing an additional 1,575 shares during the period. 95.66% of the stock is owned by institutional investors.

Rapid7 Stock Down 0.3 %

NASDAQ RPD opened at $42.74 on Tuesday. The company has a 50-day simple moving average of $39.18 and a two-hundred day simple moving average of $38.39. Rapid7, Inc. has a 12-month low of $32.94 and a 12-month high of $61.88. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 67.84 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. The company had revenue of $214.65 million during the quarter, compared to analysts’ expectations of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. Rapid7’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. Equities analysts expect that Rapid7, Inc. will post 0.98 earnings per share for the current fiscal year.

Insider Transactions at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the transaction, the director now owns 17,460 shares in the company, valued at $698,400. The trade was a 17.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Piper Sandler cut their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. StockNews.com cut Rapid7 from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Scotiabank reduced their price target on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Jefferies Financial Group began coverage on Rapid7 in a research note on Wednesday, October 16th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and dropped their price target for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Fifteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.59.

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.