Dark Forest Capital Management LP Purchases New Position in Rapid7, Inc. (NASDAQ:RPD)

Dark Forest Capital Management LP bought a new stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,151 shares of the technology company's stock, valued at approximately $610,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock worth $46,000 after acquiring an additional 455 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock valued at $60,000 after buying an additional 347 shares during the period. Ostrum Asset Management grew its holdings in shares of Rapid7 by 45.3% during the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock valued at $100,000 after acquiring an additional 772 shares in the last quarter. KBC Group NV increased its stake in shares of 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 acquiring an additional 867 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of Rapid7 during the fourth quarter worth $233,000. 95.66% of the stock is currently owned by institutional investors.

Rapid7 Stock Performance

Shares of RPD traded down $0.15 during trading hours on Thursday, reaching $23.48. 294,357 shares of the company traded hands, compared to its average volume of 885,027. The stock's fifty day moving average is $26.38 and its 200 day moving average is $35.10. Rapid7, Inc. has a 1-year low of $21.61 and a 1-year high of $46.84. The stock has a market cap of $1.50 billion, a P/E ratio of 60.24 and a beta of 0.99.

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 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%. On average, equities research analysts predict that Rapid7, Inc. will post 0.35 EPS for the current year.

Insiders Place Their Bets

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $23.12, for a total transaction of $290,179.12. Following the completion of the sale, the insider now owns 58,165 shares in the company, valued at approximately $1,344,774.80. The trade was a 17.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on RPD. Needham & Company LLC restated a "hold" rating on shares of Rapid7 in a research note on Thursday, February 13th. StockNews.com raised Rapid7 from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. Stephens began coverage on shares of Rapid7 in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $33.00 price objective on the stock. Raymond James decreased their target price on shares of Rapid7 from $55.00 to $45.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Finally, Truist Financial cut their price target 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. Fifteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $37.32.

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.