Lisanti Capital Growth LLC Takes $3.52 Million Position in Rapid7, Inc. (NASDAQ:RPD)

Lisanti Capital Growth LLC purchased a new stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 61,685 shares of the technology company's stock, valued at approximately $3,522,000. Lisanti Capital Growth LLC owned approximately 0.10% of Rapid7 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Rapid7 by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company's stock valued at $322,337,000 after buying an additional 148,440 shares during the last quarter. Hawk Ridge Capital Management LP raised its holdings 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. Massachusetts Financial Services Co. MA raised its holdings in Rapid7 by 40.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,237,023 shares of the technology company's stock valued at $56,631,000 after buying an additional 355,192 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Rapid7 by 11.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 856,355 shares of the technology company's stock valued at $49,143,000 after buying an additional 86,633 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Rapid7 by 10.6% during the 3rd quarter. Legal & General Group Plc now owns 699,818 shares of the technology company's stock worth $32,038,000 after purchasing an additional 66,935 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Andrew F. Burton sold 31,727 shares of the business's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total value of $1,683,751.89. Following the sale, the chief operating officer now directly owns 257,494 shares in the company, valued at approximately $13,665,206.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Andrew F. Burton sold 20,653 shares of the business's stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the sale, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew F. Burton sold 31,727 shares of the company's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the sale, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RPD. Barclays lifted their price objective on Rapid7 from $58.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 8th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $70.00 price objective on shares of Rapid7 in a research report on Thursday, February 8th. UBS Group upgraded shares of Rapid7 from a "neutral" rating to a "buy" rating and upped their price objective for the company from $53.00 to $70.00 in a report on Monday, January 29th. Scotiabank began coverage on Rapid7 in a research report on Friday, April 26th. They issued a "sector perform" rating and a $46.00 target price for the company. Finally, Citigroup raised shares of Rapid7 from a "neutral" rating to a "buy" rating and lifted their price target for the company from $54.00 to $65.00 in a research report on Tuesday, January 9th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $55.56.

Rapid7 Stock Performance

RPD traded up $1.00 during mid-day trading on Monday, reaching $46.21. 725,714 shares of the stock were exchanged, compared to its average volume of 714,222. The stock has a market capitalization of $2.88 billion, a PE ratio of -18.41 and a beta of 1.01. The company has a 50 day moving average price of $49.62 and a two-hundred day moving average price of $52.84. Rapid7, Inc. has a 1 year low of $39.49 and a 1 year high of $61.88.

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

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.

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