Brevan Howard Capital Management LP purchased a new position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 34,484 shares of the technology company's stock, valued at approximately $1,387,000. Brevan Howard Capital Management LP owned 0.05% of Rapid7 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Rapid7 by 68.8% in 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 during the last quarter. Pacer Advisors Inc. grew its holdings in Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock valued at $60,000 after purchasing an additional 347 shares during the period. Ostrum Asset Management increased its stake in Rapid7 by 45.3% in the fourth 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 in 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 purchasing an additional 867 shares during the period. Finally, One68 Global Capital LLC bought a new position in shares of Rapid7 during the fourth quarter worth $201,000. 95.66% of the stock is owned by institutional investors.
Insider Activity at Rapid7
In related news, insider Christina Luconi sold 12,551 shares of the company'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 owns 58,165 shares in the company, valued at approximately $1,344,774.80. This represents a 17.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
RPD has been the subject of a number of research analyst reports. Raymond James decreased their target price on Rapid7 from $55.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Robert W. Baird lowered their target price on Rapid7 from $43.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus cut their price target on shares of Rapid7 from $42.00 to $38.00 and set a "hold" rating on the stock in a research note on Thursday, February 13th. Mizuho set a $30.00 price objective on shares of Rapid7 in a research report on Wednesday, April 16th. Finally, Truist Financial dropped their price objective on shares of Rapid7 from $38.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, February 13th. Fourteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $37.32.
Read Our Latest Analysis on Rapid7
Rapid7 Price Performance
RPD stock traded down $0.09 during trading hours on Friday, reaching $25.14. The stock had a trading volume of 2,218,800 shares, compared to its average volume of 852,270. The stock has a market capitalization of $1.61 billion, a PE ratio of 64.46 and a beta of 1.06. The stock has a 50-day simple moving average of $25.63 and a 200 day simple moving average of $34.33. Rapid7, Inc. has a fifty-two week low of $21.61 and a fifty-two week high of $44.48.
Rapid7 (NASDAQ:RPD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS 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, sell-side analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.
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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