IQ EQ FUND MANAGEMENT IRELAND Ltd Trims Stock Holdings in Rapid7, Inc. (NASDAQ:RPD)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 7.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 144,864 shares of the technology company’s stock after selling 11,203 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Rapid7 were worth $5,779,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Creative Planning acquired a new stake in shares of Rapid7 during the third quarter worth approximately $253,000. Green Alpha Advisors LLC boosted its stake in Rapid7 by 11.0% during the 3rd quarter. Green Alpha Advisors LLC now owns 14,444 shares of the technology company’s stock valued at $576,000 after acquiring an additional 1,435 shares during the last quarter. Diversified Trust Co grew its holdings in Rapid7 by 3.7% during the 3rd quarter. Diversified Trust Co now owns 19,826 shares of the technology company’s stock worth $791,000 after acquiring an additional 716 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Rapid7 by 97.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 92,700 shares of the technology company’s stock worth $4,007,000 after purchasing an additional 45,700 shares during the last quarter. Finally, Algert Global LLC raised its stake in shares of Rapid7 by 158.6% in the 2nd quarter. Algert Global LLC now owns 121,953 shares of the technology company’s stock valued at $5,272,000 after purchasing an additional 74,793 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now owns 17,460 shares of the company’s stock, valued at approximately $698,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Royal Bank of Canada downgraded Rapid7 from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $50.00 to $40.00 in a research note on Friday, September 20th. Scotiabank lowered their price target on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $52.00 to $43.00 in a research note on Wednesday, August 7th. Jefferies Financial Group assumed coverage on shares of Rapid7 in a research note on Wednesday. They set a “buy” rating and a $50.00 target price for the company. Finally, Piper Sandler reduced their price target on shares of Rapid7 from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Rapid7 has a consensus rating of “Hold” and an average target price of $46.35.

Rapid7 Trading Down 0.3 %

RPD opened at $40.16 on Thursday. The business’s 50 day moving average is $37.10 and its 200-day moving average is $39.57. The stock has a market cap of $2.50 billion, a PE ratio of -19.59 and a beta of 0.97. Rapid7, Inc. has a twelve month low of $32.94 and a twelve month high of $61.88.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $207.99 million for the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The business’s revenue for the quarter 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, analysts forecast that Rapid7, Inc. will post 0.8 EPS for the current year.

Rapid7 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.