IQ EQ FUND MANAGEMENT IRELAND Ltd Reduces Stake in Rapid7, Inc. (NASDAQ:RPD)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 11.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 128,571 shares of the technology company’s stock after selling 16,293 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.20% of Rapid7 worth $5,172,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RPD. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after buying an additional 455 shares during the last quarter. Pacer Advisors Inc. raised its stake in Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after acquiring an additional 347 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Rapid7 in the third quarter valued at $69,000. KBC Group NV grew its holdings 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 worth $108,000 after purchasing an additional 867 shares during the last quarter. Finally, FORA Capital LLC purchased a new position in shares of Rapid7 during the third quarter worth about $209,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $29.20 on Thursday. Rapid7, Inc. has a one year low of $26.77 and a one year high of $50.55. The firm has a market capitalization of $1.87 billion, a P/E ratio of 74.87 and a beta of 0.92. The company’s fifty day moving average is $33.55 and its two-hundred day moving average is $37.44.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. On average, sell-side analysts forecast that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Insider Transactions at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the transaction, the chief executive officer now owns 431,469 shares of the company’s stock, valued at $16,991,249.22. The trade was a 18.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RPD shares. JPMorgan Chase & Co. decreased their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. 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. Citigroup lowered their target price on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Truist Financial reduced their price target on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Finally, Morgan Stanley assumed coverage on shares of Rapid7 in a research report on Tuesday, March 18th. They set an “equal weight” rating and a $33.00 price objective on the stock. Fifteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $39.94.

Rapid7 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.