Numerai GP LLC Reduces Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Numerai GP LLC trimmed its position in Rapid7, Inc. (NASDAQ:RPD) by 79.7% in the 4th quarter, HoldingsChannel reports. The firm owned 6,554 shares of the technology company’s stock after selling 25,771 shares during the quarter. Numerai GP LLC’s holdings in Rapid7 were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Estuary Capital Management LP acquired a new position in Rapid7 in the 4th quarter worth approximately $20,714,000. Dendur Capital LP purchased a new stake in shares of Rapid7 in the 4th quarter valued at $19,190,000. Raymond James Financial Inc. acquired a new stake in shares of Rapid7 in the fourth quarter worth $12,050,000. Marshall Wace LLP increased its stake in shares of Rapid7 by 144.2% in the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock worth $19,137,000 after acquiring an additional 280,913 shares during the period. Finally, 13D Management LLC purchased a new position in shares of Rapid7 during the fourth quarter worth $5,455,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Trading Down 1.2%

RPD stock opened at $23.55 on Friday. Rapid7, Inc. has a 12-month low of $21.61 and a 12-month high of $44.48. The business’s 50-day moving average is $25.32 and its 200 day moving average is $33.96. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 60.38 and a beta of 1.06.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. The firm had revenue of $210.25 million for the quarter, compared to analyst estimates of $208.25 million. During the same period in the previous year, the company posted $0.55 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. As a group, equities analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RPD shares. Morgan Stanley upped their price target on shares of Rapid7 from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday. Jefferies Financial Group lowered their target price on Rapid7 from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Royal Bank of Canada restated a “sector perform” rating on shares of Rapid7 in a research report on Tuesday. Finally, Raymond James dropped their price objective on shares of Rapid7 from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Rapid7 currently has a consensus rating of “Hold” and a consensus price target of $33.32.

Insiders Place Their Bets

In related news, insider Christina Luconi sold 12,551 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the sale, the insider now owns 58,165 shares of the company’s stock, valued at approximately $1,344,774.80. This trade represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is currently owned by corporate insiders.

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.