OFI Invest Asset Management Has $165,000 Holdings in Rapid7, Inc. (NASDAQ:RPD)

OFI Invest Asset Management trimmed its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 99.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,085 shares of the technology company’s stock after selling 5,201,315 shares during the period. OFI Invest Asset Management’s holdings in Rapid7 were worth $165,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new position in Rapid7 during the first quarter worth approximately $36,000. Mather Group LLC. bought a new position in shares of Rapid7 during the 1st quarter worth approximately $42,000. International Assets Investment Management LLC increased its holdings in shares of Rapid7 by 3,367.9% during the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after acquiring an additional 943 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Rapid7 during the first quarter worth $83,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Rapid7 by 80.5% in the first quarter. Russell Investments Group Ltd. now owns 3,068 shares of the technology company’s stock valued at $150,000 after purchasing an additional 1,368 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th. Scotiabank reduced their price target on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Citigroup lowered their price objective on Rapid7 from $65.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Piper Sandler decreased their price target on shares of Rapid7 from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Robert W. Baird cut shares of Rapid7 from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $56.00 to $45.00 in a research note on Thursday, August 1st. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.75.

Rapid7 Stock Performance

Rapid7 stock traded down $0.28 during mid-day trading on Friday, reaching $37.55. The company had a trading volume of 534,264 shares, compared to its average volume of 870,229. Rapid7, Inc. has a fifty-two week low of $32.94 and a fifty-two week high of $61.88. The business has a fifty day simple moving average of $38.74 and a 200 day simple moving average of $45.02.

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