Massachusetts Financial Services Co. MA increased its stake in Rapid7, Inc. (NASDAQ:RPD) by 7.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 704,087 shares of the technology company’s stock after buying an additional 49,970 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.68% of Rapid7 worth $10,547,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Penserra Capital Management LLC increased its stake in shares of Rapid7 by 28.0% in the first quarter. Penserra Capital Management LLC now owns 932,188 shares of the technology company’s stock valued at $13,964,000 after buying an additional 204,188 shares during the period. Elliott Management Corp acquired a new stake in shares of Rapid7 during the fourth quarter valued at about $5,149,000. State Street Corp increased its stake in shares of Rapid7 by 0.9% in the fourth quarter. State Street Corp now owns 296,932 shares of the technology company’s stock valued at $3,615,000 after buying an additional 2,758 shares during the period. Herald Investment Management Ltd acquired a new stake in shares of Rapid7 during the first quarter valued at about $1,161,000. Finally, Strs Ohio increased its stake in shares of Rapid7 by 38.4% in the first quarter. Strs Ohio now owns 44,000 shares of the technology company’s stock valued at $659,000 after buying an additional 12,200 shares during the period. Institutional investors own 68.71% of the company’s stock.
Shares of Rapid7, Inc. (RPD) traded up 1.00% during trading on Thursday, hitting $17.24. 25,214 shares of the company traded hands. The firm has a 50 day moving average price of $17.85 and a 200-day moving average price of $15.08. The stock’s market cap is $729.86 million. Rapid7, Inc. has a one year low of $10.63 and a one year high of $19.29.
Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Tuesday, May 9th. The technology company reported ($0.24) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.17. The company had revenue of $45.20 million for the quarter, compared to analysts’ expectations of $44.01 million. Rapid7 had a negative net margin of 26.19% and a negative return on equity of 93.19%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.23) EPS. Analysts predict that Rapid7, Inc. will post ($0.63) EPS for the current year.
Several analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $19.00 price target on shares of Rapid7 in a report on Friday, March 31st. Susquehanna Bancshares Inc assumed coverage on shares of Rapid7 in a report on Wednesday, June 7th. They issued a “neutral” rating and a $20.00 price target on the stock. Monness Crespi & Hardt assumed coverage on shares of Rapid7 in a report on Tuesday, May 30th. They issued a “buy” rating and a $23.00 price target on the stock. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $11.50 price target on shares of Rapid7 in a report on Friday, April 14th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $18.93.
In other news, insider Jay C. Hoag sold 1,400,000 shares of Rapid7 stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $18.00, for a total value of $25,200,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 37,843 shares of Rapid7 stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $16.95, for a total transaction of $641,438.85. Following the completion of the transaction, the chief operating officer now directly owns 238,158 shares in the company, valued at $4,036,778.10. The disclosure for this sale can be found here. Insiders own 56.90% of the company’s stock.
Rapid7 Company Profile
Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.
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