Heritage Investors Management Corp Sells 7,616 Shares of Rapid7, Inc. (NASDAQ:RPD)

Heritage Investors Management Corp cut its stake in Rapid7, Inc. (NASDAQ:RPD) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,977 shares of the technology company’s stock after selling 7,616 shares during the quarter. Heritage Investors Management Corp’s holdings in Rapid7 were worth $6,280,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in Rapid7 by 3,367.9% during the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after acquiring an additional 943 shares in the last quarter. Financial Connections Group Inc. bought a new stake in Rapid7 during the 4th quarter worth approximately $95,000. Strs Ohio raised its holdings in Rapid7 by 100.0% during the 3rd quarter. Strs Ohio now owns 2,600 shares of the technology company’s stock worth $119,000 after buying an additional 1,300 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Rapid7 by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock valued at $134,000 after buying an additional 336 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Rapid7 in the third quarter valued at approximately $162,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RPD. Truist Financial cut their price objective on shares of Rapid7 from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday. Scotiabank began coverage on shares of Rapid7 in a report on Friday, April 26th. They set a “sector perform” rating and a $46.00 target price on the stock. Barclays cut their price target on shares of Rapid7 from $60.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. cut their price objective on Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Finally, Piper Sandler decreased their target price on Rapid7 from $56.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Rapid7 has an average rating of “Hold” and an average price target of $52.13.

Rapid7 Trading Down 0.2 %

Shares of NASDAQ:RPD traded down $0.06 on Thursday, reaching $37.94. 2,348,030 shares of the company’s stock were exchanged, compared to its average volume of 826,819. Rapid7, Inc. has a twelve month low of $35.22 and a twelve month high of $61.88. The company has a fifty day moving average of $48.62 and a 200-day moving average of $52.60. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -15.12 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.27. The firm had revenue of $205.27 million for the quarter, compared to analyst estimates of $201.52 million. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. As a group, equities research analysts forecast that Rapid7, Inc. will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling

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

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.