Rapid7, Inc. (NASDAQ:RPD) Position Cut by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. trimmed its stake in Rapid7, Inc. (NASDAQ:RPD) by 10.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,603 shares of the technology company’s stock after selling 1,226 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Rapid7 were worth $615,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in Rapid7 by 3,367.9% during the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after acquiring an additional 943 shares during the period. Captrust Financial Advisors grew its holdings in Rapid7 by 117.8% during the first quarter. Captrust Financial Advisors now owns 1,479 shares of the technology company’s stock worth $165,000 after acquiring an additional 800 shares during the period. Quilter Plc acquired a new position in Rapid7 during the first quarter worth about $1,489,500,000. Financial Connections Group Inc. acquired a new position in Rapid7 during the fourth quarter worth about $95,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in Rapid7 during the third quarter worth about $87,000. 95.66% of the stock is currently owned by institutional investors.

Rapid7 Trading Down 0.9 %

Shares of Rapid7 stock opened at $43.80 on Thursday. Rapid7, Inc. has a 52-week low of $39.49 and a 52-week high of $61.88. The stock has a 50-day simple moving average of $53.03 and a 200-day simple moving average of $53.12.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.27. The business had revenue of $205.27 million during the quarter, compared to analyst estimates of $201.52 million. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. Equities research analysts expect that Rapid7, Inc. will post 0.86 EPS for the current fiscal year.

Analysts Set New Price Targets

RPD has been the topic of a number of research analyst reports. Citigroup raised Rapid7 from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $54.00 to $65.00 in a report on Tuesday, January 9th. JPMorgan Chase & Co. dropped their price target on Rapid7 from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. UBS Group raised Rapid7 from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $53.00 to $70.00 in a research note on Monday, January 29th. StockNews.com cut Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price target on shares of Rapid7 in a research note on Thursday, February 8th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $56.20.

Insider Activity

In other news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the sale, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the sale, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total value of $1,683,751.89. Following the completion of the sale, the chief operating officer now owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

About Rapid7

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.