Thematics Asset Management Sells 2,000 Shares of Rapid7, Inc. (NASDAQ:RPD)

Thematics Asset Management reduced its holdings in Rapid7, Inc. (NASDAQ:RPD) by 0.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 397,000 shares of the technology company’s stock after selling 2,000 shares during the quarter. Thematics Asset Management’s holdings in Rapid7 were worth $15,971,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in RPD. Skandinaviska Enskilda Banken AB publ boosted its holdings in Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after acquiring an additional 455 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after purchasing an additional 347 shares in the last quarter. Ostrum Asset Management boosted its stake in shares of Rapid7 by 45.3% during the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock valued at $100,000 after purchasing an additional 772 shares in the last quarter. KBC Group NV increased its position in shares of Rapid7 by 47.7% during the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after buying an additional 867 shares during the period. Finally, Cibc World Markets Corp bought a new position in Rapid7 in the fourth quarter worth about $233,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RPD has been the topic of several research reports. Citigroup cut their price objective on Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Mizuho set a $30.00 price target on Rapid7 in a research note on Wednesday. DA Davidson decreased their price objective on Rapid7 from $35.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. Raymond James dropped their target price on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Stephens started coverage on shares of Rapid7 in a research note on Tuesday, April 1st. They issued an “equal weight” rating and a $33.00 price target for the company. Fifteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Rapid7 has an average rating of “Hold” and an average target price of $37.32.

Insider Activity

In other news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the sale, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Christina Luconi sold 12,551 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the transaction, the insider now directly owns 58,165 shares in the company, valued at approximately $1,344,774.80. This represents a 17.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Rapid7 Trading Down 1.2 %

Shares of RPD stock opened at $22.56 on Friday. Rapid7, Inc. has a 12-month low of $22.08 and a 12-month high of $46.96. The stock has a market capitalization of $1.44 billion, a P/E ratio of 57.85 and a beta of 0.99. The firm’s 50 day moving average is $28.12 and its 200 day moving average is $35.95.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. As a group, equities analysts predict that Rapid7, Inc. will post 0.35 earnings per share for the current 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.