Vanguard Group Inc. increased its stake in Rapid7, Inc. (NASDAQ:RPD) by 6.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,428,575 shares of the technology company’s stock after purchasing an additional 87,101 shares during the quarter. Vanguard Group Inc. owned approximately 3.37% of Rapid7 worth $24,044,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of RPD. Laurion Capital Management LP purchased a new position in Rapid7 in the 2nd quarter worth about $11,614,000. Frontier Capital Management Co. LLC purchased a new position in Rapid7 in the 2nd quarter worth about $7,473,000. Marshall Wace North America L.P. purchased a new position in Rapid7 in the 2nd quarter worth about $4,925,000. Bank of Montreal Can purchased a new position in Rapid7 in the 2nd quarter worth about $1,235,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Rapid7 in the 1st quarter worth about $861,000. 71.80% of the stock is currently owned by hedge funds and other institutional investors.
Rapid7, Inc. (RPD) opened at $19.36 on Tuesday. Rapid7, Inc. has a 12 month low of $11.26 and a 12 month high of $20.25.
Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. The business had revenue of $50.50 million during the quarter, compared to analyst estimates of $49.87 million. Rapid7 had a negative return on equity of 115.79% and a negative net margin of 22.44%. The firm’s revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.13) EPS. analysts forecast that Rapid7, Inc. will post -1.03 EPS for the current year.
A number of equities analysts recently weighed in on RPD shares. BidaskClub cut Rapid7 from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. ValuEngine cut Rapid7 from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. UBS AG raised Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 target price on the stock in a research note on Tuesday, August 8th. Susquehanna Bancshares Inc raised Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 target price on the stock in a research note on Tuesday, August 8th. Finally, Zacks Investment Research cut Rapid7 from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $20.83.
In other news, Chairman Alan Matthews sold 52,770 shares of Rapid7 stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $17.22, for a total transaction of $908,699.40. Following the completion of the sale, the chairman now directly owns 3,152,177 shares in the company, valued at approximately $54,280,487.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lee David Weiner sold 20,000 shares of Rapid7 stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $17.15, for a total value of $343,000.00. Following the sale, the insider now owns 76,212 shares of the company’s stock, valued at $1,307,035.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,895 shares of company stock valued at $2,379,911. 56.90% of the stock is owned by corporate insiders.
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Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.
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