Rapid7, Inc. (NASDAQ:RPD) Holdings Cut by Acorn Financial Advisory Services Inc. ADV

Acorn Financial Advisory Services Inc. ADV decreased its stake in Rapid7, Inc. (NASDAQ:RPD) by 2.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 28,635 shares of the technology company’s stock after selling 790 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in Rapid7 were worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Comerica Bank boosted its holdings in shares of Rapid7 by 1.1% in the first quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock valued at $1,243,000 after acquiring an additional 281 shares in the last quarter. Virtu Financial LLC lifted its position in shares of Rapid7 by 7.1% in the 1st 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. 1620 Investment Advisors Inc. boosted its stake in Rapid7 by 14.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after purchasing an additional 352 shares during the period. Benjamin F. Edwards & Company Inc. raised 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 valued at $185,000 after purchasing an additional 400 shares during the period. Finally, Arizona State Retirement System grew its stake in Rapid7 by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock valued at $750,000 after acquiring an additional 465 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RPD shares. StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Friday. Piper Sandler lowered their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and decreased their target price for the stock from $52.00 to $43.00 in a research report on Wednesday, August 7th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their price objective for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. Finally, Baird R W downgraded Rapid7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $44.59.

Rapid7 Stock Down 1.8 %

Shares of NASDAQ RPD traded down $0.74 during midday trading on Friday, hitting $40.54. 1,005,365 shares of the company’s stock were exchanged, compared to its average volume of 848,452. The company’s 50 day moving average price is $38.02 and its 200 day moving average price is $38.76. The firm has a market capitalization of $2.54 billion, a PE ratio of 64.35 and a beta of 0.96. Rapid7, Inc. has a 12 month low of $32.94 and a 12 month high of $61.88.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.06. Rapid7 had a negative return on equity of 99.08% and a net margin of 5.65%. The business had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. During the same period last year, the firm posted ($0.33) EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, equities research analysts anticipate that Rapid7, Inc. will post 0.8 EPS for the current year.

Insider Activity

In other news, Director Reeny Sondhi sold 3,663 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the transaction, the director now directly owns 17,460 shares in the company, valued at approximately $698,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by company 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.