Mutual of America Capital Management LLC Has $3.15 Million Stock Holdings in Rapid7, Inc. (NASDAQ:RPD)

Mutual of America Capital Management LLC decreased its position in Rapid7, Inc. (NASDAQ:RPD) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,991 shares of the technology company’s stock after selling 740 shares during the period. Mutual of America Capital Management LLC owned about 0.13% of Rapid7 worth $3,151,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after buying an additional 661 shares in the last quarter. Quest Partners LLC acquired a new position in Rapid7 during the second quarter worth $35,000. Summit Securities Group LLC bought a new position in shares of Rapid7 during the second quarter valued at $43,000. Financial Connections Group Inc. acquired a new stake in shares of Rapid7 in the 2nd quarter valued at $72,000. Finally, Point72 Hong Kong Ltd grew its holdings in shares of Rapid7 by 315.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock worth $90,000 after purchasing an additional 1,575 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RPD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a report on Wednesday, August 7th. Jefferies Financial Group assumed coverage on Rapid7 in a research report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price objective for the company. Scotiabank decreased their target price on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and cut their price target for the company from $52.00 to $43.00 in a report on Wednesday, August 7th. Finally, Piper Sandler decreased their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Fifteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $44.59.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $42.86 on Friday. Rapid7, Inc. has a 52-week low of $32.94 and a 52-week high of $61.88. The company’s 50 day moving average price is $39.01 and its 200-day moving average price is $38.46. The company has a market capitalization of $2.71 billion, a P/E ratio of 68.03 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The business had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share. Analysts forecast that Rapid7, Inc. will post 0.98 earnings per share for the current year.

Insider Transactions at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of the 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 completion of the sale, the director now directly owns 17,460 shares of the company’s stock, valued at $698,400. This represents a 17.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by insiders.

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.