Rapid7, Inc. (NASDAQ:RPD) Shares Purchased by Northern Trust Corp

Northern Trust Corp lifted its position in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 624,936 shares of the technology company's stock after buying an additional 46,351 shares during the quarter. Northern Trust Corp owned approximately 0.99% of Rapid7 worth $25,141,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ boosted its position in Rapid7 by 68.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock valued at $46,000 after buying an additional 455 shares during the period. Pacer Advisors Inc. raised its stake in shares of 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 acquiring an additional 347 shares in the last quarter. Ostrum Asset Management boosted its holdings 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 period. KBC Group NV grew its stake in Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company's stock worth $108,000 after purchasing an additional 867 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in Rapid7 during the 4th quarter worth about $233,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Insider Buying and Selling at Rapid7

In related news, insider Christina Luconi sold 12,551 shares of Rapid7 stock in a transaction 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 transaction, the insider now directly owns 58,165 shares in the company, valued at $1,344,774.80. This trade represents a 17.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RPD has been the subject of several recent research reports. Mizuho set a $30.00 price objective on Rapid7 in a research note on Wednesday, April 16th. Stephens started coverage on shares of Rapid7 in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $33.00 target price on the stock. Susquehanna lowered their price target on shares of Rapid7 from $40.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday. UBS Group reduced their price objective on shares of Rapid7 from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Scotiabank lowered their target price on shares of Rapid7 from $38.00 to $29.00 and set a "sector perform" rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $33.32.

Rapid7 Trading Up 0.1%

Shares of Rapid7 stock traded up $0.03 during trading on Friday, reaching $23.58. The company's stock had a trading volume of 183,515 shares, compared to its average volume of 890,837. The company has a 50-day moving average price of $25.32 and a two-hundred day moving average price of $33.96. Rapid7, Inc. has a fifty-two week low of $21.61 and a fifty-two week high of $44.48. The firm has a market cap of $1.51 billion, a PE ratio of 60.42 and a beta of 1.06.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its quarterly earnings data 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 net margin of 3.46% and a negative return on equity of 130.41%. The company had revenue of $210.25 million for the quarter, compared to analyst estimates of $208.25 million. During the same period in the previous year, the business posted $0.55 earnings per share. Rapid7's quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts predict 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.