Mizuho Markets Americas LLC Has $2.98 Million Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Mizuho Markets Americas LLC lessened its stake in Rapid7, Inc. (NASDAQ:RPD) by 57.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,674 shares of the technology company’s stock after selling 99,674 shares during the quarter. Mizuho Markets Americas LLC owned 0.12% of Rapid7 worth $2,979,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in Rapid7 by 9.7% in the 3rd quarter. Principal Financial Group Inc. now owns 47,661 shares of the technology company’s stock worth $1,901,000 after purchasing an additional 4,214 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of Rapid7 by 3.0% during the third quarter. Asset Management One Co. Ltd. now owns 125,678 shares of the technology company’s stock worth $5,013,000 after buying an additional 3,634 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Rapid7 by 491.2% during the third quarter. Harbor Capital Advisors Inc. now owns 80,464 shares of the technology company’s stock worth $3,210,000 after buying an additional 66,854 shares in the last quarter. 1620 Investment Advisors Inc. raised its position in Rapid7 by 14.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after buying an additional 352 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Rapid7 in the 3rd quarter valued at approximately $948,000. Institutional investors own 95.66% of the company’s stock.

Rapid7 Stock Performance

Shares of RPD stock opened at $39.98 on Friday. Rapid7, Inc. has a 52 week low of $32.94 and a 52 week high of $61.88. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 63.46 and a beta of 0.96. The company has a 50-day simple moving average of $38.49 and a 200 day simple moving average of $38.55.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data 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 company had revenue of $214.65 million during the quarter, compared to analysts’ expectations of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 earnings per share. Sell-side analysts forecast that Rapid7, Inc. will post 0.98 EPS for the current year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the sale, the director now owns 17,460 shares in the company, valued at $698,400. The trade was a 17.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RPD. Truist Financial lowered their price objective on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. UBS Group lowered their price target on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Baird R W downgraded shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Robert W. Baird downgraded Rapid7 from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $56.00 to $45.00 in a research report on Thursday, August 1st. Finally, DA Davidson upped their target price on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. 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, Rapid7 currently has an average rating of “Hold” and a consensus target price of $44.59.

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.