Rapid7, Inc. (NASDAQ:RPD) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. grew its position in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 13.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 326,454 shares of the technology company's stock after purchasing an additional 37,489 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.51% of Rapid7 worth $8,654,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RPD. Shapiro Capital Management LLC increased its holdings in shares of Rapid7 by 295.9% in the 4th quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company's stock valued at $51,935,000 after acquiring an additional 964,899 shares during the last quarter. Estuary Capital Management LP acquired a new stake in Rapid7 during the fourth quarter worth approximately $20,714,000. Dendur Capital LP purchased a new stake in shares of Rapid7 during the 4th quarter worth approximately $19,190,000. Raymond James Financial Inc. purchased a new stake in shares of Rapid7 during the 4th quarter worth approximately $12,050,000. Finally, Marshall Wace LLP boosted its holdings in shares of 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 in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Stock Performance

Shares of RPD stock traded down $0.21 during trading hours on Friday, reaching $23.52. The company had a trading volume of 803,012 shares, compared to its average volume of 834,449. The stock's fifty day simple moving average is $23.61 and its 200 day simple moving average is $31.39. The company has a market capitalization of $1.51 billion, a P/E ratio of 60.31 and a beta of 1.02. Rapid7, Inc. has a twelve month low of $21.61 and a twelve month high of $44.48.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its earnings results on Monday, May 12th. The technology company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.12. The business had revenue of $210.25 million for the quarter, compared to analysts' expectations 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 for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 earnings per share. As a group, equities analysts expect that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Insider Activity

In other news, insider Christina Luconi sold 12,551 shares of the company'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 sale, the insider now owns 58,165 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. UBS Group reduced their price target on shares of Rapid7 from $52.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Scotiabank dropped their price target on Rapid7 from $38.00 to $29.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley boosted their price objective on Rapid7 from $26.00 to $28.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Needham & Company LLC restated a "hold" rating on shares of Rapid7 in a research report on Thursday, February 13th. Finally, Wall Street Zen upgraded shares of Rapid7 from a "hold" rating to a "buy" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Rapid7 currently has a consensus rating of "Hold" and an average price target of $33.32.

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.