Shapiro Capital Management LLC Has $51.94 Million Stock Holdings in Rapid7, Inc. (NASDAQ:RPD)

Shapiro Capital Management LLC increased its stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 295.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,290,945 shares of the technology company's stock after buying an additional 964,899 shares during the quarter. Rapid7 comprises 1.8% of Shapiro Capital Management LLC's holdings, making the stock its 26th largest position. Shapiro Capital Management LLC owned 2.04% of Rapid7 worth $51,935,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of RPD. KLP Kapitalforvaltning AS purchased a new stake in Rapid7 in the 4th quarter valued at about $539,000. Raymond James Financial Inc. purchased a new stake in shares of Rapid7 in the 4th quarter valued at approximately $12,050,000. Principal Financial Group Inc. raised its stake in shares of Rapid7 by 13.9% in the 4th quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company's stock valued at $2,185,000 after acquiring an additional 6,645 shares during the period. Invesco Ltd. lifted its holdings in shares of Rapid7 by 5.4% in the 4th quarter. Invesco Ltd. now owns 36,487 shares of the technology company's stock worth $1,468,000 after acquiring an additional 1,860 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Rapid7 by 17.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,900 shares of the technology company's stock worth $358,000 after purchasing an additional 1,335 shares during the period. Institutional investors and hedge funds own 95.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stephens began coverage on shares of Rapid7 in a report on Tuesday, April 1st. They set an "equal weight" rating and a $33.00 target price on the stock. Citigroup decreased their price objective on shares of Rapid7 from $46.00 to $44.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. StockNews.com upgraded shares of Rapid7 from a "hold" rating to a "buy" rating in a research report on Friday, February 21st. Scotiabank cut their price target on Rapid7 from $38.00 to $29.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 13th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Rapid7 in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Rapid7 currently has an average rating of "Hold" and an average price target of $33.32.

Rapid7 Trading Down 2.1%

RPD traded down $0.49 during trading on Wednesday, hitting $22.87. 260,660 shares of the company's stock were exchanged, compared to its average volume of 850,551. The stock has a 50 day moving average price of $25.07 and a 200 day moving average price of $33.55. Rapid7, Inc. has a 1 year low of $21.61 and a 1 year high of $44.48. The firm has a market cap of $1.47 billion, a P/E ratio of 58.65 and a beta of 1.06.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The technology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. The firm had revenue of $210.25 million for the quarter, compared to the consensus estimate of $208.25 million. Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. Rapid7's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.55 EPS. Analysts forecast that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Insider Transactions at Rapid7

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the business'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 sale, the insider now directly owns 58,165 shares of the company's stock, valued at $1,344,774.80. The trade was a 17.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.60% of the company's stock.

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.