Estuary Capital Management LP Takes $20.71 Million Position in Rapid7, Inc. (NASDAQ:RPD)

Estuary Capital Management LP acquired a new position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 514,880 shares of the technology company's stock, valued at approximately $20,714,000. Rapid7 accounts for 6.1% of Estuary Capital Management LP's portfolio, making the stock its 9th largest position. Estuary Capital Management LP owned about 0.81% of Rapid7 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock valued at $46,000 after purchasing an additional 455 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Rapid7 by 30.4% in 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 boosted its stake in shares of 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 during the period. KBC Group NV boosted 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 valued at $108,000 after purchasing an additional 867 shares during the period. Finally, One68 Global Capital LLC purchased a new position in Rapid7 in the fourth quarter worth approximately $201,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Price Performance

RPD stock traded up $1.60 during midday trading on Monday, reaching $26.74. 1,739,376 shares of the company's stock traded hands, compared to its average volume of 855,830. The company has a market capitalization of $1.72 billion, a P/E ratio of 68.56 and a beta of 1.06. Rapid7, Inc. has a fifty-two week low of $21.61 and a fifty-two week high of $44.48. The business has a 50-day moving average price of $25.59 and a two-hundred day moving average price of $34.21.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. As a group, research analysts forecast that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

RPD has been the subject of a number of recent research reports. Mizuho set a $30.00 price target on shares of Rapid7 in a research note on Wednesday, April 16th. DA Davidson decreased their price target on shares of Rapid7 from $35.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. UBS Group dropped their price objective on shares of Rapid7 from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus lowered 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. Finally, Stephens began coverage on shares of Rapid7 in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $33.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $36.74.

Insider Activity

In related news, insider Christina Luconi sold 12,551 shares of Rapid7 stock in a transaction on Monday, April 7th. The shares were sold at an average price of $23.12, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company's stock.

About Rapid7

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.