Bank of New York Mellon Corp lessened its holdings in Rapid7 Inc (NASDAQ:RPD) by 4.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,509,007 shares of the technology company’s stock after selling 75,513 shares during the period. Bank of New York Mellon Corp’s holdings in Rapid7 were worth $55,711,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RPD. Jupiter Asset Management Ltd. lifted its holdings in shares of Rapid7 by 17.8% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 143,451 shares of the technology company’s stock valued at $5,323,000 after acquiring an additional 21,692 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Rapid7 by 3,076.7% in the third quarter. Alliancebernstein L.P. now owns 1,226,757 shares of the technology company’s stock worth $45,292,000 after purchasing an additional 1,188,140 shares during the last quarter. Chartwell Investment Partners LLC lifted its stake in Rapid7 by 53.7% in the third quarter. Chartwell Investment Partners LLC now owns 302,989 shares of the technology company’s stock worth $11,186,000 after purchasing an additional 105,861 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Rapid7 by 26.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 18,007 shares of the technology company’s stock worth $665,000 after purchasing an additional 3,728 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Rapid7 by 18.1% in the third quarter. JPMorgan Chase & Co. now owns 166,666 shares of the technology company’s stock worth $6,153,000 after purchasing an additional 25,576 shares during the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

Several analysts have issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Rapid7 from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. BidaskClub downgraded shares of Rapid7 from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 7th. Zacks Investment Research raised shares of Rapid7 from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, October 10th. Berenberg Bank assumed coverage on shares of Rapid7 in a research note on Thursday, November 29th. They issued a “buy” rating and a $41.00 price objective for the company. Finally, Monness Crespi & Hardt raised their price objective on shares of Rapid7 from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $36.13.

Shares of NASDAQ:RPD opened at $35.49 on Friday. The company has a market cap of $1.67 billion, a PE ratio of -33.80 and a beta of 0.85. Rapid7 Inc has a one year low of $21.18 and a one year high of $39.40. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.83 and a current ratio of 1.83.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Tuesday, November 6th. The technology company reported ($0.20) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.05. The business had revenue of $62.40 million for the quarter, compared to analyst estimates of $59.50 million. Rapid7 had a negative net margin of 23.83% and a negative return on equity of 76.86%. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period last year, the company posted ($0.15) earnings per share. Sell-side analysts anticipate that Rapid7 Inc will post -1.02 earnings per share for the current year.

In related news, CFO Jeffrey Kalowski sold 15,000 shares of Rapid7 stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $31.84, for a total transaction of $477,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lee David Weiner sold 5,580 shares of Rapid7 stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $31.78, for a total transaction of $177,332.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,221,685 shares of company stock worth $73,293,780. Corporate insiders own 25.60% of the company’s stock.

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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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