Shapiro Capital Management LLC Purchases 964,899 Shares of Rapid7, Inc. (NASDAQ:RPD)

Shapiro Capital Management LLC increased its stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 295.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,290,945 shares of the technology company's stock after buying an additional 964,899 shares during the period. Rapid7 comprises about 1.8% of Shapiro Capital Management LLC's holdings, making the stock its 26th biggest position. Shapiro Capital Management LLC owned about 2.04% of Rapid7 worth $51,935,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in RPD. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock worth $46,000 after purchasing an additional 455 shares in the last quarter. Pacer Advisors Inc. increased 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 worth $60,000 after purchasing an additional 347 shares in the last quarter. Ostrum Asset Management increased its stake in shares of Rapid7 by 45.3% in the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after purchasing an additional 772 shares in the last quarter. KBC Group NV increased its stake in shares of Rapid7 by 47.7% in the fourth 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, One68 Global Capital LLC purchased a new position in shares of Rapid7 in the fourth quarter worth about $201,000. Hedge funds and other institutional investors own 95.66% of the company's stock.

Rapid7 Stock Performance

Shares of Rapid7 stock opened at $23.55 on Friday. Rapid7, Inc. has a 52-week low of $21.61 and a 52-week high of $44.48. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 60.38 and a beta of 1.06. The company has a fifty day moving average of $25.32 and a 200-day moving average of $33.96.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The technology company reported $0.49 earnings per share (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 during the quarter, compared to analysts' expectations of $208.25 million. During the same quarter in the prior year, the company earned $0.55 EPS. The firm's revenue was up 2.5% on a year-over-year basis. On average, equities research analysts forecast that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the 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 of the company's stock, valued at $1,344,774.80. This represents a 17.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on RPD shares. Morgan Stanley boosted their price objective on shares of Rapid7 from $26.00 to $28.00 and gave the company an "equal weight" rating in a research note on Tuesday. Stephens started coverage on shares of Rapid7 in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $33.00 price objective for the company. Robert W. Baird boosted their price objective on shares of Rapid7 from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday. Stifel Nicolaus reduced their price objective on shares of Rapid7 from $38.00 to $29.00 and set a "hold" rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Rapid7 from $36.00 to $29.00 and set a "neutral" rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $33.32.

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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