272 Capital LP lowered its stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 39.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 131,010 shares of the technology company's stock after selling 84,277 shares during the quarter. Rapid7 comprises approximately 5.0% of 272 Capital LP's investment portfolio, making the stock its 6th biggest holding. 272 Capital LP owned 0.21% of Rapid7 worth $5,271,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Nordea Investment Management AB lifted its position in Rapid7 by 100.8% during the 4th quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company's stock worth $3,030,000 after buying an additional 37,708 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Rapid7 during the 4th quarter worth approximately $539,000. Raymond James Financial Inc. bought a new stake in Rapid7 in the 4th quarter valued at $12,050,000. Principal Financial Group Inc. lifted its holdings in Rapid7 by 13.9% during the 4th quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company's stock valued at $2,185,000 after purchasing an additional 6,645 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in Rapid7 by 259.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company's stock worth $11,625,000 after purchasing an additional 208,501 shares during the period. Institutional investors own 95.66% of the company's stock.
Rapid7 Trading Up 1.1 %
Rapid7 stock traded up $0.26 during mid-day trading on Monday, reaching $24.09. The company had a trading volume of 939,439 shares, compared to its average volume of 890,206. Rapid7, Inc. has a fifty-two week low of $21.61 and a fifty-two week high of $46.84. The business has a fifty day simple moving average of $25.96 and a 200 day simple moving average of $34.69. The company has a market cap of $1.55 billion, a P/E ratio of 61.77 and a beta of 1.06.
Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. Research analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current year.
Insider Buying and Selling
In related news, insider Christina Luconi sold 12,551 shares of Rapid7 stock in a transaction that occurred on Monday, April 7th. The stock was 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 of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on RPD. StockNews.com upgraded shares of Rapid7 from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. Mizuho set a $30.00 price objective on Rapid7 in a report on Wednesday, April 16th. Jefferies Financial Group lowered their target price on Rapid7 from $45.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Stephens assumed coverage on Rapid7 in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $33.00 price objective on the stock. Finally, DA Davidson dropped their target price on Rapid7 from $35.00 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. 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. According to data from MarketBeat, Rapid7 has a consensus rating of "Hold" and a consensus target price of $37.32.
Read Our Latest Stock Analysis on Rapid7
About Rapid7
(
Free Report)
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.
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