The Manufacturers Life Insurance Company Sells 2,242 Shares of Rapid7, Inc. (NASDAQ:RPD)

The Manufacturers Life Insurance Company decreased its holdings in Rapid7, Inc. (NASDAQ:RPD) by 6.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 34,168 shares of the technology company’s stock after selling 2,242 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Rapid7 were worth $1,363,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of RPD. International Assets Investment Management LLC raised its position in shares of Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after acquiring an additional 661 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Rapid7 during the second quarter worth $35,000. Summit Securities Group LLC acquired a new stake in shares of Rapid7 during the second quarter worth $43,000. Financial Connections Group Inc. acquired a new stake in shares of Rapid7 during the second quarter worth $72,000. Finally, Point72 Hong Kong Ltd grew its stake in shares of Rapid7 by 315.0% during the second 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 period. Institutional investors own 95.66% of the company’s stock.

Rapid7 Trading Down 0.3 %

RPD opened at $41.48 on Wednesday. The company’s 50 day moving average is $40.78 and its 200-day moving average is $38.77. Rapid7, Inc. has a 1-year low of $32.94 and a 1-year high of $61.88. The company has a market cap of $2.62 billion, a P/E ratio of 65.84 and a beta of 0.95.

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

Wall Street Analysts Forecast Growth

RPD has been the subject of a number of analyst reports. Truist Financial decreased their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. DA Davidson boosted their target price on Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. UBS Group decreased their target price on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.59.

Insider Transactions at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the sale, the director now owns 17,460 shares in the company, valued at approximately $698,400. The trade was a 17.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Rapid7 Company 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.