Focus Partners Wealth Invests $592,000 in Rapid7, Inc. (NASDAQ:RPD)

Focus Partners Wealth acquired a new stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,717 shares of the technology company's stock, valued at approximately $592,000.

Other large investors have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ lifted its position in shares of 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 during the last quarter. Pacer Advisors Inc. increased 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 increased 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 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 valued at $108,000 after purchasing an additional 867 shares during the period. Finally, One68 Global Capital LLC acquired a new stake in shares of Rapid7 in the fourth quarter valued at approximately $201,000. Institutional investors own 95.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on RPD. DA Davidson reiterated an "underperform" rating and set a $21.00 price objective (down previously from $29.00) on shares of Rapid7 in a research note on Tuesday, May 13th. Susquehanna decreased their price objective on shares of Rapid7 from $40.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Stifel Nicolaus decreased their price objective on shares of Rapid7 from $38.00 to $29.00 and set a "hold" rating for the company in a research note on Tuesday, May 13th. Stephens initiated coverage on shares of Rapid7 in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $33.00 target price for the company. Finally, Barclays decreased their target price on shares of Rapid7 from $26.00 to $25.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rapid7 has an average rating of "Hold" and a consensus target price of $33.32.

Insider Activity 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. 2.60% of the stock is currently owned by insiders.

Rapid7 Trading Down 0.2%

RPD traded down $0.05 during trading on Friday, hitting $22.96. The stock had a trading volume of 478,979 shares, compared to its average volume of 850,415. The company has a 50 day simple moving average of $24.73 and a 200-day simple moving average of $33.13. Rapid7, Inc. has a 12 month low of $21.61 and a 12 month high of $44.48. The firm has a market cap of $1.47 billion, a PE ratio of 58.87 and a beta of 1.06.

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

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.