MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $36.99 Million Position in Rapid7, Inc. (NASDAQ:RPD)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 17.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 919,434 shares of the technology company's stock after purchasing an additional 133,967 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.45% of Rapid7 worth $36,993,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Estuary Capital Management LP bought a new position in Rapid7 during the fourth quarter worth about $20,714,000. Dendur Capital LP bought a new stake in Rapid7 in the fourth quarter valued at approximately $19,190,000. Raymond James Financial Inc. acquired a new stake in shares of Rapid7 in the fourth quarter valued at approximately $12,050,000. Marshall Wace LLP boosted its stake in shares of Rapid7 by 144.2% during the 4th quarter. Marshall Wace LLP now owns 475,695 shares of the technology company's stock worth $19,137,000 after acquiring an additional 280,913 shares during the period. Finally, 13D Management LLC bought a new position in shares of Rapid7 during the 4th quarter worth approximately $5,455,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Insider Transactions at Rapid7

In related news, insider Christina Luconi sold 12,551 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were 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 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 Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RPD has been the subject of several research reports. UBS Group cut their price target on Rapid7 from $52.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Robert W. Baird raised their target price on shares of Rapid7 from $26.00 to $28.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. StockNews.com upgraded shares of Rapid7 from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. Mizuho set a $30.00 price target on shares of Rapid7 in a report on Wednesday, April 16th. Finally, Morgan Stanley boosted their price objective on Rapid7 from $26.00 to $28.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $33.32.

Rapid7 Price Performance

RPD traded down $0.42 on Monday, hitting $23.31. 98,497 shares of the stock were exchanged, compared to its average volume of 852,003. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 59.76 and a beta of 1.06. Rapid7, Inc. has a 12 month low of $21.61 and a 12 month high of $44.48. The business has a 50-day moving average of $25.24 and a two-hundred day moving average of $33.74.

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 (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.12. Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. The business had revenue of $210.25 million for the quarter, compared to analyst estimates of $208.25 million. During the same quarter last year, the business posted $0.55 EPS. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts expect 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.