SG Americas Securities LLC Lowers Stock Position in Rapid7, Inc. (NASDAQ:RPD)

SG Americas Securities LLC trimmed its position in Rapid7, Inc. (NASDAQ:RPD) by 97.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,912 shares of the technology company’s stock after selling 80,588 shares during the quarter. SG Americas Securities LLC’s holdings in Rapid7 were worth $109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Rapid7 by 2.2% during the third quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock worth $322,337,000 after purchasing an additional 148,440 shares in the last quarter. Wasatch Advisors Inc. raised its position in shares of Rapid7 by 11.0% during the first quarter. Wasatch Advisors Inc. now owns 2,454,833 shares of the technology company’s stock valued at $273,076,000 after buying an additional 243,040 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Rapid7 by 5.8% in the first quarter. Capital Research Global Investors now owns 1,603,819 shares of the technology company’s stock worth $178,409,000 after buying an additional 87,700 shares in the last quarter. Hawk Ridge Capital Management LP boosted its position in shares of Rapid7 by 757.7% during the third quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock worth $72,894,000 after acquiring an additional 1,406,619 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Rapid7 by 1.2% during the second quarter. Goldman Sachs Group Inc. now owns 1,467,079 shares of the technology company’s stock valued at $66,429,000 after acquiring an additional 17,969 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

Rapid7 Stock Performance

RPD opened at $44.31 on Friday. Rapid7, Inc. has a one year low of $39.49 and a one year high of $61.88. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -17.65 and a beta of 1.01. The stock’s 50 day moving average price is $52.40 and its 200-day moving average price is $53.04.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.27. The business 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, analysts predict that Rapid7, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Activity at Rapid7

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

Wall Street Analyst Weigh In

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

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.