Pitcairn Co. Sells 191 Shares of Rapid7, Inc. (NASDAQ:RPD)

Pitcairn Co. lowered its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,349 shares of the technology company’s stock after selling 191 shares during the quarter. Pitcairn Co.’s holdings in Rapid7 were worth $604,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its position in Rapid7 by 29.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,195,154 shares of the technology company’s stock worth $113,097,000 after purchasing an additional 274,349 shares in the last quarter. Vanguard Group Inc. raised its stake in Rapid7 by 5.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,044,741 shares of the technology company’s stock valued at $477,384,000 after purchasing an additional 265,972 shares during the last quarter. AXA S.A. increased its stake in shares of Rapid7 by 141.6% in the 2nd quarter. AXA S.A. now owns 381,651 shares of the technology company’s stock worth $36,116,000 after acquiring an additional 223,651 shares during the last quarter. Morgan Stanley increased its stake in shares of Rapid7 by 183.5% in the 2nd quarter. Morgan Stanley now owns 282,742 shares of the technology company’s stock worth $26,756,000 after acquiring an additional 183,007 shares during the last quarter. Finally, Jefferies Group LLC increased its stake in shares of Rapid7 by 181.8% in the 2nd quarter. Jefferies Group LLC now owns 222,744 shares of the technology company’s stock worth $21,078,000 after acquiring an additional 143,690 shares during the last quarter. Hedge funds and other institutional investors own 99.91% of the company’s stock.

Shares of NASDAQ RPD opened at $96.45 on Friday. The firm has a market cap of $5.45 billion, a P/E ratio of -40.02 and a beta of 1.33. The stock has a fifty day moving average price of $119.92 and a two-hundred day moving average price of $117.06. Rapid7, Inc. has a 1 year low of $72.02 and a 1 year high of $145.00.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, November 3rd. The technology company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $0.62. The business had revenue of $139.89 million during the quarter, compared to analyst estimates of $134.22 million. During the same period last year, the business earned ($0.34) EPS. On average, analysts predict that Rapid7, Inc. will post -1.95 EPS for the current year.

In other news, CEO Corey E. Thomas sold 20,000 shares of Rapid7 stock in a transaction that occurred on Monday, October 18th. The shares were sold at an average price of $122.31, for a total value of $2,446,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christina Luconi sold 4,927 shares of Rapid7 stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $131.63, for a total transaction of $648,541.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,316 shares of company stock worth $11,400,482. Corporate insiders own 3.60% of the company’s stock.

A number of equities analysts recently commented on the company. Royal Bank of Canada raised their target price on Rapid7 from $138.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, November 1st. Stifel Nicolaus lifted their price objective on Rapid7 from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 4th. Barclays raised their target price on Rapid7 from $130.00 to $141.00 and gave the stock an “overweight” rating in a research report on Thursday, November 4th. Morgan Stanley raised their target price on Rapid7 from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 4th. Finally, TheStreet lowered Rapid7 from a “c-” rating to a “d+” rating in a research report on Friday, January 7th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $138.53.

Rapid7 Company Profile

Rapid7, Inc engages in the provision of cyber security analytics and automation services. Its products include Metasploit, Nexpose, AppSpider, tCell by Rapid7, as well as insight platforms such as InsightDR, InsightIVM, InsightAppSec, InsightConnect, and InsightOps. It also offers security and product consulting services.

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Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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