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

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 11.2% during the fourth quarter, Holdings Channel reports. 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’s holdings in Rapid7 were worth $5,172,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in Rapid7 by 30.4% in the fourth 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 during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Rapid7 by 0.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock valued at $2,782,000 after purchasing an additional 446 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake 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 valued at $46,000 after buying an additional 455 shares during the period. KBC Group NV grew its stake in shares of Rapid7 by 47.7% during the 4th 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, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Rapid7 by 3.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,078 shares of the technology company’s stock worth $1,280,000 after buying an additional 965 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Buying and Selling

In related news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. This trade represents a 18.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Rapid7 Price Performance

RPD opened at $29.20 on Thursday. The stock has a market capitalization of $1.87 billion, a PE ratio of 74.87 and a beta of 0.92. Rapid7, Inc. has a 12-month low of $26.77 and a 12-month high of $50.55. The firm’s fifty day moving average price is $33.55 and its 200 day moving average price is $37.44.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group lowered their price target on Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Jefferies Financial Group dropped their target price on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Raymond James cut their price target 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. JPMorgan Chase & Co. decreased their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Finally, Truist Financial dropped their price objective 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. Fifteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $39.94.

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.