Cetera Trust Company N.A Lowers Stock Holdings in Rapid7, Inc. (NASDAQ:RPD)

Cetera Trust Company N.A reduced its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 24.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,515 shares of the technology company’s stock after selling 1,160 shares during the period. Cetera Trust Company N.A’s holdings in Rapid7 were worth $141,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RPD. International Assets Investment Management LLC raised its stake in shares of Rapid7 by 3,888.2% in the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after acquiring an additional 661 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Rapid7 in the third quarter valued at $69,000. Point72 Hong Kong Ltd raised its stake in shares of Rapid7 by 315.0% in the second quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock valued at $90,000 after acquiring an additional 1,575 shares in the last quarter. 1620 Investment Advisors Inc. raised its stake in shares of Rapid7 by 14.5% in the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after acquiring an additional 352 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Rapid7 by 10.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock valued at $185,000 after acquiring an additional 400 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on RPD shares. Truist Financial reduced their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Piper Sandler reduced their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Scotiabank raised their price target on Rapid7 from $39.00 to $42.00 and gave the company a “sector perform” rating in a research note on Tuesday. DA Davidson raised their price target on Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price target on Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Fifteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rapid7 presently has an average rating of “Hold” and an average price target of $43.76.

Rapid7 Trading Down 0.3 %

Shares of RPD opened at $39.44 on Wednesday. Rapid7, Inc. has a twelve month low of $32.94 and a twelve month high of $61.88. The stock’s 50 day moving average is $40.62 and its two-hundred day moving average is $39.03. The firm has a market capitalization of $2.49 billion, a PE ratio of 62.88 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The company had revenue of $214.65 million for the quarter, compared to analyst estimates of $210.04 million. During the same quarter in the previous year, the company earned $0.11 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, sell-side analysts predict that Rapid7, Inc. will post 0.98 EPS for the current year.

Rapid7 Profile

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.