Frontier Capital Management Co. LLC sells 31,439 shares of Rapid7, Inc. (NASDAQ:RPD)

Frontier Capital Management Co. LLC sells 31,439 shares of Rapid7, Inc. (NASDAQ:RPD)

Frontier Capital Management Co. LLC cut its stake in Rapid7, Inc. stock (NASDAQ:RPDget rating) by 73.6% during the first trimester, HoldingsChannel reports. The firm owned 11,269 shares of the technology company after selling 31,439 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Rapid7 were worth $1,254,000 as of their most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also increased or reduced their holdings in the company. Diversified Trust Co increased its stake in Rapid7 by 3.5% in the first quarter. Diversified Trust Co now owns 4,932 shares of the technology company valued at $549,000 after acquiring an additional 167 shares during the period. Walleye Capital LLC increased its stake in Rapid7 by 31.3% in the fourth quarter. Walleye Capital LLC now owns 10,279 shares of the technology company valued at $1,210,000 after acquiring an additional 2,451 shares during the period. Camden Capital LLC increased its stake in Rapid7 by 4.0% in the fourth quarter. Camden Capital LLC now owns 2,600 shares of the technology company valued at $306,000 after acquiring an additional 100 shares during the period. EFG Asset Management North America Corp. bought a new stake in Rapid7 in the fourth quarter valued at about $2,122,000. Finally, Goldman Sachs Group Inc. increased its stake in Rapid7 by 22.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,017,838 shares of the technology company valued at $119,789,000 after acquiring an additional 186,816 shares during the period. Institutional investors own 98.03% of the company’s shares.

NASDAQ RPD opened at $71.82 on Monday. The stock has a market capitalization of $4.18 billion, a PE ratio of -25.11, and a beta of 1.40. The company has a 50-day simple moving average of $77.45 and a 200-day simple moving average of $95.19. Rapid7, Inc. has a 1-year minimum of $60.42 and a 1-year maximum of $145.00.

fast7 (NASDAQ:RPDget rating) last published its quarterly earnings results on Wednesday, May 4. The tech company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.05. The firm had revenue of $157.00 million in the quarter, compared to analyst expectations of $154.15 million. Quarterly business revenue increased 33.6% compared to the same quarter last year. During the same quarter of the previous year, the company earned ($0.42) EPS. Stock analysts predict that Rapid7, Inc. will post -2.02 EPS for the current fiscal year.

Several brokerage houses recently issued reports on RPD. William Blair reaffirmed an “outperform” rating on Rapid7 shares in a research note on Thursday, May 5. Truist Financial lowered its price target on Rapid7 from $135.00 to $110.00 in a research report on Tuesday, May 10. The Goldman Sachs Group lowered Rapid7 from a “buy” rating to a “neutral” rating and set a $130.00 price target on the stock. in an investigative report on Tuesday, April 12. Mizuho lowered his price target on Rapid7 from $135.00 to $110.00 in a research report on Thursday, May 5. Finally, StockNews.com took over coverage at Rapid7 in an investigative report on Thursday, March 31. They set a “sell” rating on the stock. One investment analyst rated the shares a sell rating, three assigned a hold rating and thirteen assigned a buy rating to the company’s shares. According to MarketBeat data, the company currently has a “Moderate Buy” consensus rating and an average price target of $128.07.

In other Rapid7 news, Director Thomas E. Schodorf sold 260 Rapid7 shares in a transaction on Monday, April 4. The shares were sold at an average price of $112.54, for a total transaction of $29,260.40. Following the completion of the sale, the director now directly owns 5,290 shares of the company, valued at approximately $595,336.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Additionally, Chief Financial Officer Timothy M. Adams purchased 5,000 shares of Rapid7 in a transaction on Monday, May 9. The shares were purchased at an average cost of $65.50 per share, with a total value of $327,500.00. After completing the transaction, the CFO now owns 106,540 shares in the company, valued at approximately $6,978,370. Disclosure of this purchase can be found here. Currently, 3.60% of the shares are owned by insiders.

About Rapid7 (get rating)

Rapid7, Inc offers cyber security solutions. The company offers a cloud-native information platform that enables customers to create and manage analytics-driven cybersecurity risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a solution that integrates posture management, workload protection, infrastructure rights management, infrastructure-as-code security, and Kubernetes protection; InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risks, and automate remediation; InsightAppSec, which provides application security testing that scans web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution used by security professionals.

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Want to see what other hedge funds have RPD? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Rapid7, Inc. (NASDAQ:RPDget rating).

Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)



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