Mirae Asset Global Investments Co. Ltd. Buys 86,633 Shares of Rapid7, Inc. (NASDAQ:RPD)

Mirae Asset Global Investments Co. Ltd. grew its stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 11.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 856,355 shares of the technology company's stock after buying an additional 86,633 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 1.39% of Rapid7 worth $49,143,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hawk Ridge Capital Management LP raised its position in Rapid7 by 757.7% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company's stock valued at $72,894,000 after buying an additional 1,406,619 shares during the last quarter. Norges Bank bought a new position in shares of Rapid7 during the 4th quarter worth approximately $20,261,000. Fred Alger Management LLC raised its holdings in shares of Rapid7 by 150.0% in the first quarter. Fred Alger Management LLC now owns 870,536 shares of the technology company's stock valued at $39,966,000 after purchasing an additional 522,286 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Rapid7 by 43.6% in the second quarter. Goldman Sachs Group Inc. now owns 1,306,095 shares of the technology company's stock worth $87,247,000 after purchasing an additional 396,586 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Rapid7 by 40.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,237,023 shares of the technology company's stock worth $56,631,000 after purchasing an additional 355,192 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RPD shares. JPMorgan Chase & Co. cut their price target on shares of Rapid7 from $61.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, February 8th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $70.00 price target on shares of Rapid7 in a research report on Thursday, February 8th. Susquehanna initiated coverage on Rapid7 in a report on Friday, December 15th. They issued a "neutral" rating and a $55.00 price objective for the company. Barclays raised their target price on shares of Rapid7 from $58.00 to $60.00 and gave the company an "equal weight" rating in a research note on Thursday, February 8th. Finally, UBS Group raised shares of Rapid7 from a "neutral" rating to a "buy" rating and upped their price target for the stock from $53.00 to $70.00 in a research report on Monday, January 29th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $56.20.

Rapid7 Stock Performance

Shares of RPD stock traded up $0.80 during midday trading on Friday, hitting $48.76. 402,575 shares of the company were exchanged, compared to its average volume of 688,903. Rapid7, Inc. has a 52 week low of $39.49 and a 52 week high of $61.88. The firm has a market capitalization of $3.02 billion, a P/E ratio of -19.43 and a beta of 1.01. The firm's 50 day moving average price is $54.48 and its two-hundred day moving average price is $53.07.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.27. The company had revenue of $205.27 million during the quarter, compared to analysts' expectations of $201.52 million. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. Analysts expect that Rapid7, Inc. will post 0.86 EPS for the current year.

Insider Buying and Selling at Rapid7

In related news, COO Andrew F. Burton sold 31,727 shares of the firm's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the transaction, the chief operating officer now directly owns 257,494 shares of the company's stock, valued at $13,665,206.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company's stock.

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.