Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Deutsche Bank AG

Deutsche Bank AG trimmed its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 79.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 303,567 shares of the technology company’s stock after selling 1,173,900 shares during the quarter. Deutsche Bank AG’s holdings in Rapid7 were worth $8,048,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. grew its position in Rapid7 by 5.4% during the fourth quarter. Invesco Ltd. now owns 36,487 shares of the technology company’s stock worth $1,468,000 after buying an additional 1,860 shares during the period. Marshall Wace LLP grew its position in Rapid7 by 144.2% during the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock worth $19,137,000 after buying an additional 280,913 shares during the period. Canada Pension Plan Investment Board grew its position in Rapid7 by 31.7% during the fourth quarter. Canada Pension Plan Investment Board now owns 89,300 shares of the technology company’s stock worth $3,593,000 after buying an additional 21,500 shares during the period. CANADA LIFE ASSURANCE Co grew its position in Rapid7 by 7.8% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 305,357 shares of the technology company’s stock worth $12,284,000 after buying an additional 22,043 shares during the period. Finally, First Trust Advisors LP grew its position in Rapid7 by 6.8% during the fourth quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company’s stock worth $50,518,000 after buying an additional 79,836 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Stock Up 1.6%

RPD stock opened at $21.27 on Friday. The stock has a market capitalization of $1.38 billion, a P/E ratio of 51.88 and a beta of 0.96. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.24 and a current ratio of 1.36. Rapid7, Inc. has a one year low of $17.83 and a one year high of $44.48. The company has a 50 day moving average price of $22.57 and a two-hundred day moving average price of $25.85.

Rapid7 (NASDAQ:RPD) last released its earnings results on Thursday, August 7th. The technology company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.44 by $0.14. The firm had revenue of $214.19 million during the quarter, compared to analysts’ expectations of $212.17 million. Rapid7 had a net margin of 3.41% and a return on equity of 149.12%. Rapid7’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 EPS. As a group, sell-side analysts expect that Rapid7, Inc. will post 0.35 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on RPD. Scotiabank set a $20.00 target price on shares of Rapid7 and gave the stock a “sector perform” rating in a research report on Monday. Mizuho lowered their target price on shares of Rapid7 from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 8th. Barclays lowered their price objective on shares of Rapid7 from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 13th. UBS Group lowered their price objective on shares of Rapid7 from $39.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Finally, Stifel Nicolaus lowered their price target on shares of Rapid7 from $29.00 to $22.00 and set a “hold” rating on the stock in a research report on Friday, August 8th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.67.

Insider Buying and Selling

In related news, Director Jana Partners Management, Lp purchased 250,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were bought at an average price of $21.26 per share, with a total value of $5,315,000.00. Following the completion of the purchase, the director directly owned 6,518,604 shares in the company, valued at approximately $138,585,521.04. This trade represents a 3.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have purchased 772,194 shares of company stock valued at $15,135,356. 2.40% of the stock is currently owned by insiders.

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.