Rapid7, Inc. (NASDAQ:RPD) Shares Purchased by Nuveen Asset Management LLC

Nuveen Asset Management LLC increased its stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 158.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 428,423 shares of the technology company's stock after purchasing an additional 262,382 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.68% of Rapid7 worth $17,235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RPD. Needham Investment Management LLC acquired a new stake in shares of Rapid7 in the fourth quarter valued at $3,017,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Rapid7 by 17.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 919,434 shares of the technology company's stock valued at $36,993,000 after acquiring an additional 133,967 shares in the last quarter. Graham Capital Management L.P. lifted its stake in Rapid7 by 11.8% in the 4th quarter. Graham Capital Management L.P. now owns 17,230 shares of the technology company's stock valued at $693,000 after acquiring an additional 1,813 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Rapid7 during the 4th quarter worth approximately $592,000. Finally, Estuary Capital Management LP acquired a new position in shares of Rapid7 during the 4th quarter worth approximately $20,714,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Stock Up 0.4%

NASDAQ:RPD traded up $0.10 on Thursday, hitting $22.47. The stock had a trading volume of 87,942 shares, compared to its average volume of 845,247. The business's fifty day moving average is $24.38 and its 200 day moving average is $32.86. The company has a market cap of $1.44 billion, a PE ratio of 57.49 and a beta of 1.06. Rapid7, Inc. has a 52 week low of $21.61 and a 52 week high of $44.48.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $210.25 million for the quarter, compared to analyst estimates of $208.25 million. Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. The company's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. Equities analysts predict that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RPD has been the topic of a number of recent analyst reports. UBS Group decreased their target price on Rapid7 from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Needham & Company LLC restated a "hold" rating on shares of Rapid7 in a research report on Thursday, February 13th. Stifel Nicolaus dropped their price objective on Rapid7 from $38.00 to $29.00 and set a "hold" rating for the company in a research report on Tuesday, May 13th. Barclays dropped their price objective on Rapid7 from $26.00 to $25.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 13th. Finally, Canaccord Genuity Group dropped their target price on Rapid7 from $43.00 to $39.00 and set a "hold" rating for the company in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $33.32.

Insider Buying and Selling

In related news, insider Christina Luconi sold 12,551 shares of Rapid7 stock in a transaction on Monday, April 7th. The stock was sold at an average price of $23.12, for a total transaction of $290,179.12. Following the sale, the insider now directly owns 58,165 shares in the company, valued at approximately $1,344,774.80. This trade represents a 17.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by corporate insiders.

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.