Emerald Advisers LLC Sells 95,065 Shares of Rapid7, Inc. (NASDAQ:RPD)

Emerald Advisers LLC decreased its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 34.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 178,834 shares of the technology company’s stock after selling 95,065 shares during the period. Emerald Advisers LLC owned 0.29% of Rapid7 worth $7,731,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in RPD. Fidelis Capital Partners LLC bought a new stake in Rapid7 during the first quarter valued at about $36,000. Mather Group LLC. acquired a new position in shares of Rapid7 during the 1st quarter worth about $42,000. Summit Securities Group LLC bought a new stake in Rapid7 during the 2nd quarter valued at approximately $43,000. Financial Connections Group Inc. acquired a new stake in Rapid7 in the 2nd quarter valued at approximately $72,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Rapid7 during the first quarter worth approximately $83,000. 95.66% of the stock is owned by institutional investors.

Rapid7 Stock Down 3.9 %

Shares of RPD stock opened at $34.76 on Friday. The company has a market capitalization of $2.17 billion, a P/E ratio of -16.96 and a beta of 0.96. Rapid7, Inc. has a 12-month low of $32.94 and a 12-month high of $61.88. The firm has a 50-day moving average price of $38.42 and a 200 day moving average price of $42.71.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. Rapid7’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.33) earnings per share. As a group, research analysts expect that Rapid7, Inc. will post 0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and decreased their price target for the stock from $52.00 to $43.00 in a research report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $50.00 price objective on shares of Rapid7 in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th. Finally, KeyCorp upgraded Rapid7 to a “hold” rating in a research note on Monday, June 17th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.75.

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.