Needham Investment Management LLC Acquires New Shares in Rapid7, Inc. (NASDAQ:RPD)

Needham Investment Management LLC bought a new position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 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 quarter.

Several other hedge funds have also added to or reduced their stakes in RPD. KLP Kapitalforvaltning AS bought a new stake in shares of Rapid7 in the 4th quarter valued at about $539,000. Raymond James Financial Inc. bought a new stake in shares of Rapid7 in the 4th quarter valued at about $12,050,000. Principal Financial Group Inc. grew its position in shares of Rapid7 by 13.9% in the 4th quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company's stock valued at $2,185,000 after buying an additional 6,645 shares during the last quarter. Invesco Ltd. grew its position in shares of Rapid7 by 5.4% in the 4th quarter. Invesco Ltd. now owns 36,487 shares of the technology company's stock valued at $1,468,000 after buying an additional 1,860 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Rapid7 by 17.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,900 shares of the technology company's stock valued at $358,000 after buying an additional 1,335 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Rapid7 Trading Up 0.7%

Shares of RPD stock traded up $0.17 during trading hours on Friday, hitting $23.72. 831,416 shares of the company's stock were exchanged, compared to its average volume of 854,511. The company has a market capitalization of $1.52 billion, a PE ratio of 60.82 and a beta of 1.06. Rapid7, Inc. has a 12-month low of $21.61 and a 12-month high of $44.48. The business's 50 day simple moving average is $25.32 and its 200-day simple moving average is $33.96.

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

Insider Activity at Rapid7

In other news, insider Christina Luconi sold 12,551 shares of the business's 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on RPD shares. Mizuho set a $30.00 price target on Rapid7 in a research report on Wednesday, April 16th. Canaccord Genuity Group cut their target price on Rapid7 from $43.00 to $39.00 and set a "hold" rating on the stock in a research report on Wednesday. Piper Sandler cut their target price on Rapid7 from $35.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday. Susquehanna cut their target price on Rapid7 from $40.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, UBS Group cut their target price on Rapid7 from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $33.32.

Rapid7 Company 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.