Franklin Resources Inc. Sells 31,229 Shares of Rapid7, Inc. (NASDAQ:RPD)

Franklin Resources Inc. lessened its stake in Rapid7, Inc. (NASDAQ:RPD) by 47.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,078 shares of the technology company’s stock after selling 31,229 shares during the period. Franklin Resources Inc. owned 0.06% of Rapid7 worth $1,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in RPD. International Assets Investment Management LLC lifted its holdings in shares of Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after purchasing an additional 661 shares during the last quarter. Quest Partners LLC acquired a new position in Rapid7 during the 2nd quarter valued at about $35,000. RPg Family Wealth Advisory LLC purchased a new stake in Rapid7 in the third quarter valued at about $69,000. Point72 Hong Kong Ltd boosted its holdings in Rapid7 by 315.0% in the second quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock worth $90,000 after acquiring an additional 1,575 shares in the last quarter. Finally, 1620 Investment Advisors Inc. grew its stake in shares of Rapid7 by 14.5% during the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after acquiring an additional 352 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Rapid7 Stock Performance

RPD opened at $40.19 on Friday. The company has a fifty day moving average of $40.86 and a two-hundred day moving average of $39.02. Rapid7, Inc. has a fifty-two week low of $32.94 and a fifty-two week high of $61.88. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 63.79 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. 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 the consensus estimate of $210.04 million. During the same quarter in the prior year, the business posted $0.11 earnings per share. Rapid7’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts forecast that Rapid7, Inc. will post 0.98 earnings per share for the current year.

Analysts Set New Price Targets

RPD has been the subject of several research analyst reports. StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Jefferies Financial Group began coverage on shares of Rapid7 in a report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. DA Davidson upped their target price on Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Truist Financial lowered their price target on Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $44.59.

Insider Buying and Selling at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction 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 transaction, the director now owns 17,460 shares in the company, valued at approximately $698,400. This trade represents a 17.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

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.