13D Management LLC Makes New Investment in Rapid7, Inc. (NASDAQ:RPD)

13D Management LLC purchased a new position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 135,600 shares of the technology company's stock, valued at approximately $5,455,000. Rapid7 makes up about 4.0% of 13D Management LLC's holdings, making the stock its 13th biggest position. 13D Management LLC owned about 0.21% of Rapid7 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in RPD. Pacer Advisors Inc. increased its position in shares of Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock worth $60,000 after acquiring an additional 347 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Rapid7 by 0.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company's stock worth $2,782,000 after acquiring an additional 446 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock valued at $46,000 after acquiring an additional 455 shares in the last quarter. Ostrum Asset Management increased its holdings in shares of Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock valued at $100,000 after purchasing an additional 772 shares during the period. Finally, KBC Group NV lifted its position in shares of Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company's stock worth $108,000 after purchasing an additional 867 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rapid7

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the business's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the transaction, the insider now directly owns 58,165 shares in the company, valued at $1,344,774.80. The trade was a 17.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.60% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on RPD. UBS Group dropped their price objective on shares of Rapid7 from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group cut their price objective on Rapid7 from $45.00 to $35.00 and set a "buy" rating for the company in a report on Monday, March 31st. Robert W. Baird lowered their target price on Rapid7 from $43.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Scotiabank cut their price target on Rapid7 from $42.00 to $38.00 and set a "sector perform" rating for the company in a research note on Thursday, February 13th. Finally, Stifel Nicolaus lowered their price target on Rapid7 from $42.00 to $38.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Rapid7 presently has an average rating of "Hold" and an average price target of $37.32.

Rapid7 Trading Down 0.1 %

RPD traded down $0.02 on Tuesday, hitting $24.07. 703,463 shares of the stock traded hands, compared to its average volume of 861,899. The business has a fifty day moving average price of $25.96 and a two-hundred day moving average price of $34.69. The firm has a market capitalization of $1.55 billion, a PE ratio of 61.72 and a beta of 1.06. Rapid7, Inc. has a 52 week low of $21.61 and a 52 week high of $46.39.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. On average, equities research analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

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.