Exchange Traded Concepts LLC Has $2.74 Million Holdings in Rapid7, Inc. (NASDAQ:RPD)

Exchange Traded Concepts LLC trimmed its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 8.4% during the third quarter, HoldingsChannel reports. The fund owned 68,708 shares of the technology company’s stock after selling 6,332 shares during the period. Exchange Traded Concepts LLC’s holdings in Rapid7 were worth $2,741,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RPD. Quest Partners LLC acquired a new position in Rapid7 during the 2nd quarter worth approximately $35,000. Fidelis Capital Partners LLC bought a new position in Rapid7 in the first quarter valued at $36,000. Mather Group LLC. acquired a new stake in Rapid7 in the 1st quarter valued at $42,000. Summit Securities Group LLC acquired a new stake in Rapid7 in the 2nd quarter valued at $43,000. Finally, Financial Connections Group Inc. bought a new stake in Rapid7 during the 2nd quarter worth about $72,000. 95.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 17,460 shares in the company, valued at $698,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by corporate insiders.

Rapid7 Trading Down 0.4 %

RPD stock opened at $40.56 on Tuesday. Rapid7, Inc. has a 12 month low of $32.94 and a 12 month high of $61.88. The stock has a market capitalization of $2.54 billion, a P/E ratio of -48.29 and a beta of 0.97. The firm has a 50-day moving average price of $36.88 and a 200-day moving average price of $39.62.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The firm had revenue of $207.99 million for the quarter, compared to analyst estimates of $204.04 million. During the same period last year, the firm posted ($0.33) earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, equities analysts predict that Rapid7, Inc. will post 0.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RPD. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and lowered their target price for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Scotiabank lowered their price target on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and cut their price objective for the company from $52.00 to $43.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on shares of Rapid7 from $46.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, KeyCorp upgraded shares of Rapid7 to a “hold” rating in a research note on Monday, June 17th. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.13.

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.