Bridgefront Capital LLC bought a new position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,013 shares of the technology company's stock, valued at approximately $524,000.
A number of other hedge funds also recently added to or reduced their stakes in RPD. Dendur Capital LP acquired a new position in shares of Rapid7 in the fourth quarter valued at approximately $19,190,000. Raymond James Financial Inc. purchased a new stake in shares of Rapid7 in the fourth quarter valued at $12,050,000. Marshall Wace LLP increased its stake in Rapid7 by 144.2% in the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company's stock valued at $19,137,000 after purchasing an additional 280,913 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in Rapid7 by 259.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company's stock valued at $11,625,000 after purchasing an additional 208,501 shares during the last quarter. Finally, 13D Management LLC purchased a new position in Rapid7 during the fourth quarter worth about $5,455,000. 95.66% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. StockNews.com raised shares of Rapid7 from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. DA Davidson dropped their price target on shares of Rapid7 from $35.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. Stifel Nicolaus decreased their price target on shares of Rapid7 from $42.00 to $38.00 and set a "hold" rating on the stock in a report on Thursday, February 13th. Mizuho set a $30.00 target price on Rapid7 in a research report on Wednesday, April 16th. Finally, Scotiabank lowered their price target on Rapid7 from $42.00 to $38.00 and set a "sector perform" rating for the company in a research report on Thursday, February 13th. Fourteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $37.32.
Read Our Latest Research Report on RPD
Insiders Place Their Bets
In related news, insider Christina Luconi sold 12,551 shares of the company'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 transaction of $290,179.12. Following the sale, the insider now directly owns 58,165 shares of the company's stock, valued at approximately $1,344,774.80. This represents a 17.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by company insiders.
Rapid7 Stock Performance
Shares of NASDAQ RPD traded down $0.09 during midday trading on Friday, reaching $25.14. 2,218,800 shares of the company's stock were exchanged, compared to its average volume of 854,598. Rapid7, Inc. has a 52-week low of $21.61 and a 52-week high of $44.48. The business's fifty day moving average price is $25.63 and its two-hundred day moving average price is $34.36. The stock has a market capitalization of $1.61 billion, a PE ratio of 64.46 and a beta of 1.06.
Rapid7 (NASDAQ:RPD - Get Free Report) last released its earnings results on Wednesday, February 12th. The technology company reported $0.12 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%. Analysts predict that Rapid7, Inc. will post 0.35 earnings per share 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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