Migdal Insurance & Financial Holdings Ltd. Sells 1,226 Shares of Rapid7, Inc. (NASDAQ:RPD)

Migdal Insurance & Financial Holdings Ltd. reduced its stake in Rapid7, Inc. (NASDAQ:RPD) by 10.4% during the fourth quarter, HoldingsChannel reports. The firm owned 10,603 shares of the technology company’s stock after selling 1,226 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Rapid7 were worth $615,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. HighTower Advisors LLC grew its position in Rapid7 by 9.1% during the first quarter. HighTower Advisors LLC now owns 2,354 shares of the technology company’s stock valued at $261,000 after acquiring an additional 196 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Rapid7 by 2.0% in the first quarter. Steward Partners Investment Advisory LLC now owns 13,992 shares of the technology company’s stock worth $642,000 after purchasing an additional 271 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Rapid7 by 1.9% in the third quarter. Arizona State Retirement System now owns 17,184 shares of the technology company’s stock worth $787,000 after purchasing an additional 320 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Rapid7 by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock worth $134,000 after purchasing an additional 336 shares during the last quarter. Finally, Bailard Inc. grew its holdings in shares of Rapid7 by 1.5% in the third quarter. Bailard Inc. now owns 23,358 shares of the technology company’s stock worth $1,069,000 after purchasing an additional 339 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on RPD. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Rapid7 in a research note on Thursday, February 8th. Barclays raised their price target on Rapid7 from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Citigroup raised Rapid7 from a “neutral” rating to a “buy” rating and raised their price target for the stock from $54.00 to $65.00 in a research note on Tuesday, January 9th. StockNews.com lowered Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. lowered their price objective on Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.20.

Rapid7 Trading Down 0.9 %

NASDAQ RPD opened at $43.80 on Thursday. Rapid7, Inc. has a one year low of $39.49 and a one year high of $61.88. The stock has a 50-day moving average of $53.03 and a 200 day moving average of $53.12.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.13 by $0.27. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. The company had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. Analysts anticipate that Rapid7, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the sale, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the transaction, the chief operating officer now owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The disclosure for this sale can be found here. Corporate 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.