Chartwell Investment Partners LLC Lowers Position in Rapid7 Inc (NASDAQ:RPD)

Chartwell Investment Partners LLC reduced its stake in Rapid7 Inc (NASDAQ:RPD) by 10.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,125 shares of the technology company’s stock after selling 11,593 shares during the period. Chartwell Investment Partners LLC owned approximately 0.19% of Rapid7 worth $4,904,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RPD. Banque Cantonale Vaudoise acquired a new position in Rapid7 during the first quarter worth $26,000. Private Capital Group LLC lifted its stake in Rapid7 by 72.2% during the 1st quarter. Private Capital Group LLC now owns 1,245 shares of the technology company’s stock worth $54,000 after acquiring an additional 522 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Rapid7 during the 2nd quarter valued at about $54,000. PNC Financial Services Group Inc. boosted its holdings in Rapid7 by 73.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,106 shares of the technology company’s stock valued at $135,000 after acquiring an additional 1,316 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Rapid7 in the 2nd quarter valued at about $179,000. 91.69% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on the stock. Robert W. Baird reissued a “buy” rating on shares of Rapid7 in a research note on Friday, May 8th. Barclays raised their price target on shares of Rapid7 from $58.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. BidaskClub raised Rapid7 from a “sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Morgan Stanley increased their price objective on Rapid7 from $43.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 13th. Finally, Zacks Investment Research raised Rapid7 from a “sell” rating to a “hold” rating in a research note on Wednesday, July 8th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $60.77.

RPD stock opened at $59.57 on Friday. The business has a 50 day moving average price of $52.71 and a 200 day moving average price of $49.92. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 3.40. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -45.13 and a beta of 1.11. Rapid7 Inc has a fifty-two week low of $31.34 and a fifty-two week high of $64.48.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $94.34 million for the quarter, compared to analysts’ expectations of $93.82 million. Rapid7 had a negative net margin of 18.70% and a negative return on equity of 55.85%. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter last year, the company earned $0.02 earnings per share. As a group, sell-side analysts anticipate that Rapid7 Inc will post -1.29 EPS for the current year.

In related news, insider Lee David Weiner sold 11,205 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $46.32, for a total transaction of $519,015.60. Following the transaction, the insider now owns 160,369 shares in the company, valued at approximately $7,428,292.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 11,580 shares of company stock valued at $537,499. Insiders own 4.60% of the company’s stock.

About Rapid7

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

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Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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