Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Rapid7, Inc. (NASDAQ:RPD) by 21.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,527 shares of the technology company’s stock after selling 10,819 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Rapid7 worth $2,200,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Rapid7 by 1.8% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 11,829 shares of the technology company’s stock valued at $538,000 after purchasing an additional 213 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Rapid7 by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 17,184 shares of the technology company’s stock valued at $787,000 after purchasing an additional 320 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Rapid7 by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock worth $134,000 after buying an additional 336 shares during the period. Bailard Inc. boosted its holdings in shares of Rapid7 by 1.5% in the third quarter. Bailard Inc. now owns 23,358 shares of the technology company’s stock worth $1,069,000 after buying an additional 339 shares during the period. Finally, Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Rapid7 by 2.4% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 28,167 shares of the technology company’s stock worth $1,289,000 after buying an additional 668 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

RPD has been the subject of several recent analyst reports. StockNews.com cut shares of Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. decreased their target price on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. Barclays raised their target price on shares of Rapid7 from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of Rapid7 in a report on Thursday, February 8th. Finally, Citigroup raised shares of Rapid7 from a “neutral” rating to a “buy” rating and increased their price target for the stock from $54.00 to $65.00 in a research report on Tuesday, January 9th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.20.

Insider Activity

In other news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction that occurred on Monday, April 8th. The shares were 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 of the company’s stock, valued at $11,541,261.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the transaction, the chief operating officer now owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Rapid7 Stock Up 3.2 %

Shares of RPD opened at $46.17 on Wednesday. The firm’s 50 day moving average price is $52.07 and its 200 day moving average price is $53.14. Rapid7, Inc. has a twelve month low of $39.49 and a twelve month high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, beating the consensus estimate 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 net margin of 19.19% and a negative return on equity of 1.36%. As a group, equities analysts forecast that Rapid7, Inc. will post 0.86 earnings per share for the current fiscal year.

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.