Pendal Group Ltd Sells 36,416 Shares of Rapid7 Inc (RPD)

Pendal Group Ltd trimmed its holdings in Rapid7 Inc (NASDAQ:RPD) by 40.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 54,337 shares of the technology company’s stock after selling 36,416 shares during the quarter. Pendal Group Ltd owned 0.12% of Rapid7 worth $2,006,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its stake in Rapid7 by 27.1% during the 1st quarter. BlackRock Inc. now owns 1,555,101 shares of the technology company’s stock valued at $39,765,000 after purchasing an additional 331,186 shares in the last quarter. UBS Group AG boosted its stake in Rapid7 by 176.4% during the 1st quarter. UBS Group AG now owns 34,783 shares of the technology company’s stock valued at $889,000 after purchasing an additional 22,199 shares in the last quarter. Royal Bank of Canada boosted its stake in Rapid7 by 336.6% during the 1st quarter. Royal Bank of Canada now owns 27,042 shares of the technology company’s stock valued at $691,000 after purchasing an additional 20,848 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Rapid7 by 535.4% during the 1st quarter. Allianz Asset Management GmbH now owns 327,900 shares of the technology company’s stock valued at $8,384,000 after purchasing an additional 276,293 shares in the last quarter. Finally, Capital One National Association bought a new position in Rapid7 during the 2nd quarter valued at $529,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

A number of equities analysts have issued reports on RPD shares. BidaskClub lowered Rapid7 from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Stifel Nicolaus increased their price target on Rapid7 from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Morgan Stanley set a $35.00 price target on Rapid7 and gave the company a “hold” rating in a research note on Wednesday. Needham & Company LLC increased their price target on Rapid7 from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, September 21st. Finally, Monness Crespi & Hardt increased their price target on Rapid7 from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Rapid7 presently has a consensus rating of “Buy” and an average target price of $35.79.

In other news, COO Andrew F. Burton sold 7,000 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $36.23, for a total value of $253,610.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vii Lp Tcv sold 182,600 shares of the stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $37.96, for a total value of $6,931,496.00. The disclosure for this sale can be found here. Insiders have sold a total of 235,732 shares of company stock valued at $8,852,242 in the last quarter. Insiders own 25.60% of the company’s stock.

Shares of NASDAQ:RPD opened at $34.72 on Friday. Rapid7 Inc has a one year low of $17.64 and a one year high of $39.40.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.05. Rapid7 had a negative return on equity of 89.66% and a negative net margin of 23.83%. The company had revenue of $62.40 million during the quarter, compared to the consensus estimate of $59.50 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. Analysts predict that Rapid7 Inc will post -1.01 earnings per share for the current fiscal year.

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Rapid7 Company Profile

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables 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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