Pictet Asset Management SA Sells 21,090 Shares of Rapid7, Inc. (NASDAQ:RPD)

Pictet Asset Management SA decreased its position in Rapid7, Inc. (NASDAQ:RPDGet Rating) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,562,268 shares of the technology company’s stock after selling 21,090 shares during the period. Pictet Asset Management SA owned approximately 2.77% of Rapid7 worth $183,863,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Moors & Cabot Inc. lifted its stake in Rapid7 by 14.8% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the technology company’s stock valued at $27,000 after acquiring an additional 3,222 shares during the period. Clearstead Advisors LLC bought a new position in Rapid7 during the 3rd quarter valued at about $30,000. UMB Bank N A MO bought a new position in Rapid7 during the 4th quarter valued at about $33,000. Evoke Wealth LLC bought a new position in Rapid7 during the 4th quarter valued at about $35,000. Finally, Captrust Financial Advisors lifted its stake in Rapid7 by 89.3% during the 3rd quarter. Captrust Financial Advisors now owns 318 shares of the technology company’s stock valued at $36,000 after acquiring an additional 150 shares during the period. Institutional investors own 98.03% of the company’s stock.

Rapid7 stock opened at $70.76 on Friday. The firm has a 50 day moving average of $101.13 and a 200 day moving average of $107.99. Rapid7, Inc. has a 12-month low of $63.24 and a 12-month high of $145.00.

Rapid7 (NASDAQ:RPDGet Rating) last released its earnings results on Wednesday, May 4th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16). The firm had revenue of $157.00 million during the quarter, compared to analysts’ expectations of $154.15 million. The company’s revenue was up 33.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.42) earnings per share. Analysts forecast that Rapid7, Inc. will post -2.02 EPS for the current year.

RPD has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Rapid7 in a research note on Thursday, March 31st. They set a “sell” rating on the stock. The Goldman Sachs Group lowered shares of Rapid7 from a “buy” rating to a “neutral” rating and set a $130.00 price target for the company. in a research report on Tuesday, April 12th. Truist Financial reduced their price target on shares of Rapid7 from $135.00 to $110.00 in a research report on Tuesday. Piper Sandler reduced their price target on shares of Rapid7 from $140.00 to $120.00 in a research report on Thursday, May 5th. Finally, Morgan Stanley reduced their price target on shares of Rapid7 from $106.00 to $103.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $126.50.

In other news, CEO Corey E. Thomas sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $100.00, for a total transaction of $5,000,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy M. Adams bought 5,000 shares of the stock in a transaction dated Monday, May 9th. The shares were purchased at an average price of $65.50 per share, with a total value of $327,500.00. Following the completion of the transaction, the chief financial officer now directly owns 106,540 shares in the company, valued at approximately $6,978,370. The disclosure for this purchase can be found here. Insiders sold a total of 55,968 shares of company stock valued at $5,656,672 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Rapid7 Profile (Get Rating)

Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a solution that integrates posture management, workload protection, infrastructure entitlements management, infrastructure-as-code security, and Kubernetes protection; InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.

Further Reading

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Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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