Healthcare of Ontario Pension Plan Trust Fund Has $3.03 Million Position in Rapid7, Inc. (NASDAQ:RPD)

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in Rapid7, Inc. (NASDAQ:RPD) by 27.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,000 shares of the technology company’s stock after selling 19,900 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.09% of Rapid7 worth $3,026,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of RPD. Janney Montgomery Scott LLC increased its holdings in shares of Rapid7 by 39.6% in the third quarter. Janney Montgomery Scott LLC now owns 10,671 shares of the technology company’s stock valued at $489,000 after purchasing an additional 3,027 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Rapid7 by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 467,934 shares of the technology company’s stock valued at $21,422,000 after acquiring an additional 17,603 shares in the last quarter. Pathstone Family Office LLC grew its stake in shares of Rapid7 by 22.1% in the third quarter. Pathstone Family Office LLC now owns 8,970 shares of the technology company’s stock valued at $411,000 after acquiring an additional 1,623 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Rapid7 by 346.3% in the third quarter. HighTower Advisors LLC now owns 77,413 shares of the technology company’s stock valued at $3,559,000 after acquiring an additional 60,069 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Rapid7 by 2.3% in the third quarter. Rhumbline Advisers now owns 85,186 shares of the technology company’s stock valued at $3,900,000 after acquiring an additional 1,918 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Price Performance

RPD stock opened at $36.73 on Tuesday. Rapid7, Inc. has a 12 month low of $35.08 and a 12 month high of $61.88. The firm has a 50-day moving average price of $41.12 and a 200-day moving average price of $50.20.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, May 7th. The technology company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The firm had revenue of $205.10 million during the quarter, compared to analysts’ expectations of $204.10 million. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. On average, analysts anticipate that Rapid7, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Activity at Rapid7

In related news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the transaction, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RPD has been the topic of several research reports. UBS Group decreased their price target on shares of Rapid7 from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Mizuho decreased their price target on shares of Rapid7 from $62.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Canaccord Genuity Group decreased their price target on shares of Rapid7 from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. StockNews.com downgraded shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Robert W. Baird reduced their price objective on shares of Rapid7 from $62.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Rapid7 has a consensus rating of “Hold” and an average target price of $51.73.

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.