Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 47.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,556 shares of the technology company’s stock after selling 40,395 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Rapid7 were worth $1,833,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Nordea Investment Management AB raised its position in shares of Rapid7 by 100.8% in the 4th quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company’s stock worth $3,030,000 after buying an additional 37,708 shares during the period. Stifel Financial Corp purchased a new position in Rapid7 in the third quarter valued at about $1,006,000. Maverick Capital Ltd. purchased a new position in Rapid7 in the third quarter valued at about $1,679,000. Harbor Capital Advisors Inc. raised its position in Rapid7 by 259.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock valued at $11,625,000 after purchasing an additional 208,501 shares during the period. Finally, Principal Financial Group Inc. raised its position in Rapid7 by 13.9% in the fourth quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company’s stock valued at $2,185,000 after purchasing an additional 6,645 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Activity

In related news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

RPD has been the topic of several research reports. Truist Financial cut their price objective on Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Raymond James dropped their target price on Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley started coverage on Rapid7 in a research report on Tuesday. They set an “equal weight” rating and a $33.00 target price on the stock. Finally, Citigroup dropped their target price on Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.50.

Rapid7 Stock Down 0.2 %

Shares of RPD stock opened at $29.05 on Wednesday. The business has a 50 day moving average of $34.75 and a two-hundred day moving average of $37.75. Rapid7, Inc. has a 52 week low of $26.77 and a 52 week high of $51.99. The company has a market cap of $1.86 billion, a P/E ratio of 74.49 and a beta of 0.92.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. Analysts expect that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Rapid7 Company Profile

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.