Exchange Traded Concepts LLC Lowers Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Exchange Traded Concepts LLC lessened its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 8.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,708 shares of the technology company’s stock after selling 6,332 shares during the period. Exchange Traded Concepts LLC owned approximately 0.11% of Rapid7 worth $2,741,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RPD. Comerica Bank raised its position in Rapid7 by 1.1% during the first quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock worth $1,243,000 after acquiring an additional 281 shares during the last quarter. Virtu Financial LLC grew its position in Rapid7 by 7.1% in the first quarter. Virtu Financial LLC now owns 5,198 shares of the technology company’s stock valued at $255,000 after acquiring an additional 346 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Rapid7 by 10.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock worth $185,000 after buying an additional 400 shares during the period. Arizona State Retirement System increased its position in shares of Rapid7 by 2.8% during the second quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock worth $750,000 after acquiring an additional 465 shares during the last quarter. Finally, 1620 Investment Advisors Inc. raised its position in shares of Rapid7 by 30.3% in the 2nd quarter. 1620 Investment Advisors Inc. now owns 2,431 shares of the technology company’s stock valued at $105,000 after purchasing an additional 565 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction 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 transaction, the director now owns 17,460 shares of the company’s stock, valued at approximately $698,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

RPD has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th. Baird R W lowered Rapid7 from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. UBS Group reduced their target price on Rapid7 from $65.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Morgan Stanley restated an “equal weight” rating and set a $46.00 price target on shares of Rapid7 in a report on Wednesday, July 10th. Finally, Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and reduced their price target for the company from $52.00 to $43.00 in a report on Wednesday, August 7th. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.13.

Rapid7 Stock Down 0.4 %

Shares of RPD opened at $40.56 on Tuesday. Rapid7, Inc. has a 12 month low of $32.94 and a 12 month high of $61.88. The company has a 50-day moving average price of $36.88 and a two-hundred day moving average price of $39.62. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of -48.29 and a beta of 0.97.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. The firm had revenue of $207.99 million during the quarter, compared to the consensus estimate of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the firm posted ($0.33) EPS. Equities research analysts expect that Rapid7, Inc. will post 0.8 EPS for the current fiscal year.

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.