Two Sigma Investments LP Increases Holdings in Rapid7, Inc. (NASDAQ:RPD)

Two Sigma Investments LP raised its stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 48.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 142,167 shares of the technology company's stock after purchasing an additional 46,567 shares during the quarter. Two Sigma Investments LP owned 0.22% of Rapid7 worth $5,719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. 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 during the last quarter. Pacer Advisors Inc. increased its stake in 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 last quarter. Ostrum Asset Management increased its stake in 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 last quarter. KBC Group NV grew its position in Rapid7 by 47.7% during the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company's stock valued at $108,000 after acquiring an additional 867 shares during the period. Finally, One68 Global Capital LLC purchased a new stake in Rapid7 during the fourth quarter valued at about $201,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rapid7

In other news, insider Christina Luconi sold 12,551 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the transaction, the insider now directly owns 58,165 shares of the company's stock, valued at $1,344,774.80. This trade represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.60% of the company's stock.

Rapid7 Trading Up 0.4%

RPD traded up $0.08 on Friday, reaching $22.92. The stock had a trading volume of 756,104 shares, compared to its average volume of 843,374. Rapid7, Inc. has a fifty-two week low of $21.61 and a fifty-two week high of $44.48. The firm has a 50-day moving average of $24.11 and a 200-day moving average of $32.54. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 58.77 and a beta of 1.06.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The technology company reported $0.49 EPS for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the company posted $0.55 EPS. The business's revenue was up 2.5% on a year-over-year basis. Sell-side analysts anticipate that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RPD shares. UBS Group decreased their target price on Rapid7 from $52.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. DA Davidson restated 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. Stifel Nicolaus dropped their price target on Rapid7 from $38.00 to $29.00 and set a "hold" rating on the stock in a research report on Tuesday, May 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 report on Tuesday, May 13th. Finally, Mizuho set a $30.00 price objective on Rapid7 in a report on Wednesday, April 16th. One investment 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 stock. According to MarketBeat, the stock presently has an average 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.