Mizuho Markets Americas LLC Sells 99,674 Shares of Rapid7, Inc. (NASDAQ:RPD)

Mizuho Markets Americas LLC cut its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 57.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,674 shares of the technology company’s stock after selling 99,674 shares during the period. Mizuho Markets Americas LLC’s holdings in Rapid7 were worth $2,979,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in shares of Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after buying an additional 661 shares during the last quarter. Quest Partners LLC bought a new position in shares of Rapid7 in the second quarter worth about $35,000. Summit Securities Group LLC bought a new position in shares of Rapid7 in the second quarter worth about $43,000. Financial Connections Group Inc. acquired a new stake in shares of Rapid7 in the 2nd quarter valued at approximately $72,000. Finally, Point72 Hong Kong Ltd grew its holdings in shares of Rapid7 by 315.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock valued at $90,000 after purchasing an additional 1,575 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Rapid7 Price Performance

NASDAQ RPD opened at $39.98 on Friday. The stock has a market capitalization of $2.53 billion, a P/E ratio of 63.46 and a beta of 0.96. The business has a 50 day simple moving average of $38.49 and a 200 day simple moving average of $38.55. Rapid7, Inc. has a one year low of $32.94 and a one year high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.52 by $0.14. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The company had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. During the same quarter last year, the firm posted $0.11 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Equities analysts expect that Rapid7, Inc. will post 0.98 earnings per share for the current year.

Analyst Ratings Changes

RPD has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada lowered Rapid7 from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $50.00 to $40.00 in a research report on Friday, September 20th. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and dropped their target price for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th. Finally, Robert W. Baird downgraded Rapid7 from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $56.00 to $45.00 in a research note on Thursday, August 1st. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rapid7 currently has a consensus rating of “Hold” and an average price target of $44.59.

Insider Buying and Selling at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the transaction, the director now directly owns 17,460 shares in the company, valued at $698,400. This trade represents a 17.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.60% of the company’s stock.

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.