75,000 Shares in Rapid7, Inc. (NASDAQ:RPD) Purchased by Needham Investment Management LLC

Needham Investment Management LLC purchased a new stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 75,000 shares of the technology company's stock, valued at approximately $3,017,000. Needham Investment Management LLC owned 0.12% of Rapid7 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Assenagon Asset Management S.A. raised its holdings in Rapid7 by 106.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 49,155 shares of the technology company's stock worth $1,978,000 after buying an additional 25,398 shares during the last quarter. SG Americas Securities LLC raised its holdings in Rapid7 by 126.6% in the fourth quarter. SG Americas Securities LLC now owns 9,908 shares of the technology company's stock worth $399,000 after buying an additional 5,536 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Rapid7 by 0.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company's stock worth $2,782,000 after buying an additional 446 shares during the last quarter. KBC Group NV raised its holdings in 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 buying an additional 867 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in 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 buying an additional 347 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Rapid7

In other news, insider Christina Luconi sold 12,551 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the sale, the insider now owns 58,165 shares of the company's stock, valued at approximately $1,344,774.80. This represents a 17.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of Rapid7 from $38.00 to $29.00 and set a "hold" rating for the company in a report on Tuesday, May 13th. Truist Financial decreased their price objective on shares of Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 13th. Piper Sandler decreased their price objective on shares of Rapid7 from $35.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Barclays cut their target price on shares of Rapid7 from $26.00 to $25.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 13th. Finally, Citigroup cut their target price on shares of Rapid7 from $46.00 to $44.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Rapid7 presently has an average rating of "Hold" and a consensus price target of $33.32.

Rapid7 Stock Up 0.7%

Rapid7 stock traded up $0.17 during mid-day trading on Friday, reaching $23.72. 831,416 shares of the company's stock traded hands, compared to its average volume of 855,003. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 60.82 and a beta of 1.06. The stock has a 50 day moving average of $25.24 and a two-hundred day moving average of $33.78. Rapid7, Inc. has a 12-month low of $21.61 and a 12-month high of $44.48.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.12. The company had revenue of $210.25 million for the quarter, compared to the consensus estimate of $208.25 million. Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. Rapid7's revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 earnings per share. As a group, sell-side analysts forecast that Rapid7, Inc. will post 0.35 earnings per share for the current 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.