Dimensional Fund Advisors LP Makes New $4.10 Million Investment in Rapid7, Inc. (NASDAQ:RPD)

Dimensional Fund Advisors LP purchased a new stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 101,897 shares of the technology company's stock, valued at approximately $4,099,000. Dimensional Fund Advisors LP owned approximately 0.16% of Rapid7 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in Rapid7 by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company's stock valued at $346,721,000 after buying an additional 60,095 shares during the last quarter. First Trust Advisors LP grew its stake in Rapid7 by 6.8% in the 4th quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company's stock valued at $50,518,000 after buying an additional 79,836 shares during the last quarter. Legal & General Group Plc grew its stake in Rapid7 by 0.9% in the 4th quarter. Legal & General Group Plc now owns 707,556 shares of the technology company's stock valued at $28,465,000 after buying an additional 6,269 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Rapid7 by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 520,006 shares of the technology company's stock valued at $20,920,000 after buying an additional 8,918 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in Rapid7 by 144.2% in the 4th quarter. Marshall Wace LLP now owns 475,695 shares of the technology company's stock valued at $19,137,000 after buying an additional 280,913 shares during the last quarter. Institutional investors own 95.66% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RPD. UBS Group cut their price target on Rapid7 from $52.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Royal Bank of Canada reiterated a "sector perform" rating on shares of Rapid7 in a report on Tuesday, May 13th. Canaccord Genuity Group decreased their price target on shares of Rapid7 from $43.00 to $39.00 and set a "hold" rating on the stock in a research report on Wednesday. Stifel Nicolaus cut their price objective on shares of Rapid7 from $38.00 to $29.00 and set a "hold" rating for the company in a research report on Tuesday, May 13th. Finally, Truist Financial cut their price objective on shares of Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company 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 given a buy rating and one has given 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.

Insider Buying and Selling at Rapid7

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the business'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 directly owns 58,165 shares in the company, valued at $1,344,774.80. The trade was a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.60% of the company's stock.

Rapid7 Price Performance

Shares of Rapid7 stock traded up $0.17 during trading on Friday, hitting $23.72. 831,416 shares of the company's stock traded hands, compared to its average volume of 855,003. The firm's fifty day moving average price is $25.24 and its 200 day moving average price is $33.74. Rapid7, Inc. has a twelve month low of $21.61 and a twelve month high of $44.48. The company has a market cap of $1.52 billion, a PE ratio of 60.82 and a beta of 1.06.

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

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.