14,717 Shares in Rapid7, Inc. (NASDAQ:RPD) Acquired by Focus Partners Wealth

Focus Partners Wealth bought a new position 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 Securities and Exchange Commission (SEC). The fund bought 14,717 shares of the technology company's stock, valued at approximately $592,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ raised its holdings in Rapid7 by 68.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock worth $46,000 after purchasing an additional 455 shares in the last quarter. Pacer Advisors Inc. raised 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 worth $60,000 after purchasing an additional 347 shares in the last quarter. Ostrum Asset Management raised its holdings in Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after purchasing an additional 772 shares in the last quarter. KBC Group NV raised its holdings in Rapid7 by 47.7% during 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 in the last quarter. Finally, One68 Global Capital LLC bought a new stake in Rapid7 during the fourth quarter worth approximately $201,000. Institutional investors own 95.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com raised Rapid7 from a "hold" rating to a "buy" rating in a report on Friday, February 21st. Robert W. Baird increased their price objective on Rapid7 from $26.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Needham & Company LLC restated a "hold" rating on shares of Rapid7 in a report on Thursday, February 13th. DA Davidson reaffirmed an "underperform" rating and set a $21.00 target price (down from $29.00) on shares of Rapid7 in a report on Tuesday, May 13th. Finally, Piper Sandler reduced their target price on Rapid7 from $35.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $33.32.

Insiders Place Their Bets

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the company's stock in a transaction dated Monday, April 7th. The stock was 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 of the company's stock, valued at $1,344,774.80. This represents a 17.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.60% of the company's stock.

Rapid7 Trading Down 2.4%

NASDAQ:RPD opened at $23.14 on Tuesday. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 59.33 and a beta of 1.06. Rapid7, Inc. has a 1-year low of $21.61 and a 1-year high of $44.48. The business's fifty day moving average price is $25.14 and its 200 day moving average price is $33.62.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its quarterly 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. Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. The firm had revenue of $210.25 million for the quarter, compared to analyst estimates of $208.25 million. During the same period in the previous year, the firm earned $0.55 earnings per share. Rapid7's quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts forecast 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.

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