First Trust Advisors LP Buys 79,836 Shares of Rapid7, Inc. (NASDAQ:RPD)

First Trust Advisors LP grew its holdings in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 6.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,255,731 shares of the technology company's stock after acquiring an additional 79,836 shares during the quarter. First Trust Advisors LP owned 1.99% of Rapid7 worth $50,518,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RPD. CANADA LIFE ASSURANCE Co boosted its holdings in Rapid7 by 7.8% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 305,357 shares of the technology company's stock valued at $12,284,000 after purchasing an additional 22,043 shares during the period. Canada Pension Plan Investment Board grew its position in Rapid7 by 31.7% during the fourth quarter. Canada Pension Plan Investment Board now owns 89,300 shares of the technology company's stock worth $3,593,000 after buying an additional 21,500 shares in the last quarter. Marshall Wace LLP increased its stake in Rapid7 by 144.2% during the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company's stock valued at $19,137,000 after acquiring an additional 280,913 shares during the period. Quinn Opportunity Partners LLC increased its stake in Rapid7 by 22.9% during the fourth quarter. Quinn Opportunity Partners LLC now owns 128,797 shares of the technology company's stock valued at $5,182,000 after acquiring an additional 24,000 shares during the period. Finally, CenterBook Partners LP acquired a new position in Rapid7 in the 4th quarter valued at approximately $739,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Rapid7 Trading Down 0.9 %

Shares of RPD traded down $0.21 during mid-day trading on Monday, hitting $23.86. 85,175 shares of the company traded hands, compared to its average volume of 884,712. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 61.56 and a beta of 0.99. The business has a 50-day moving average of $26.90 and a 200 day moving average of $35.38. Rapid7, Inc. has a one year low of $21.61 and a one year high of $46.84.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 EPS 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%. As a group, analysts anticipate that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Insiders Place Their Bets

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the company's stock in a transaction on Monday, April 7th. The shares were 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. The trade was a 17.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.60% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on RPD shares. Raymond James lowered their price objective on Rapid7 from $55.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Needham & Company LLC restated a "hold" rating on shares of Rapid7 in a research note on Thursday, February 13th. Stifel Nicolaus decreased their target price on shares of Rapid7 from $42.00 to $38.00 and set a "hold" rating on the stock in a research report on Thursday, February 13th. Truist Financial dropped their price target on shares of Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, February 13th. Finally, Stephens initiated coverage on Rapid7 in a report on Tuesday, April 1st. They set an "equal weight" rating and a $33.00 price objective on the stock. Fifteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rapid7 has a consensus rating of "Hold" and a consensus target price of $37.32.

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.