Northern Trust Corp Increases Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Northern Trust Corp lifted its holdings in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 624,936 shares of the technology company's stock after acquiring an additional 46,351 shares during the period. Northern Trust Corp owned 0.99% of Rapid7 worth $25,141,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ grew its position in shares of 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 acquiring an additional 455 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock worth $60,000 after acquiring an additional 347 shares during the last quarter. Ostrum Asset Management grew its position in shares of Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after acquiring an additional 772 shares during the last quarter. KBC Group NV grew its position in shares of Rapid7 by 47.7% during the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company's stock worth $108,000 after acquiring an additional 867 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new position in shares of Rapid7 during the fourth quarter worth approximately $233,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RPD. Barclays lowered their target price on shares of Rapid7 from $35.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. DA Davidson decreased their price target on Rapid7 from $35.00 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. Raymond James decreased their price target on Rapid7 from $55.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Stifel Nicolaus decreased their price target on Rapid7 from $42.00 to $38.00 and set a "hold" rating for the company in a report on Thursday, February 13th. Finally, Morgan Stanley decreased their price target on Rapid7 from $33.00 to $26.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Fourteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Rapid7 presently has an average rating of "Hold" and a consensus target price of $37.32.

Insider Activity

In related news, insider Christina Luconi sold 12,551 shares of Rapid7 stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $23.12, for a total transaction of $290,179.12. Following the completion of the sale, the insider now owns 58,165 shares in the company, valued at approximately $1,344,774.80. This trade represents a 17.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company's stock.

Rapid7 Stock Down 0.4%

Shares of RPD stock opened at $25.14 on Monday. Rapid7, Inc. has a fifty-two week low of $21.61 and a fifty-two week high of $44.48. The stock has a market cap of $1.61 billion, a P/E ratio of 64.46 and a beta of 1.06. The business has a fifty day simple moving average of $25.63 and a 200-day simple moving average of $34.30.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. On average, sell-side analysts anticipate that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Rapid7 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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