American International Group Inc. boosted its stake in Rapid7, Inc. (NASDAQ:RPD) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,257 shares of the technology company’s stock after buying an additional 815 shares during the period. American International Group Inc.’s holdings in Rapid7 were worth $184,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Rapid7 by 144.8% in the first quarter. JPMorgan Chase & Co. now owns 39,171 shares of the technology company’s stock worth $586,000 after buying an additional 23,173 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Rapid7 by 23.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,620 shares of the technology company’s stock worth $234,000 after buying an additional 2,980 shares during the last quarter. Penserra Capital Management LLC increased its position 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 worth $13,964,000 after buying an additional 204,188 shares during the last quarter. Oxford Asset Management purchased a new position in shares of Rapid7 during the first quarter worth $293,000. Finally, TFS Capital LLC purchased a new position in shares of Rapid7 during the first quarter worth $169,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rapid7, Inc. (RPD) opened at 15.55 on Friday. Rapid7, Inc. has a one year low of $10.63 and a one year high of $19.29. The company’s market capitalization is $670.38 million. The company has a 50-day moving average price of $16.43 and a 200 day moving average price of $16.04.
Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Monday, August 7th. The technology company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. The firm had revenue of $47.44 million during the quarter, compared to analyst estimates of $46.31 million. Rapid7 had a negative return on equity of 98.26% and a negative net margin of 23.67%. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.22) earnings per share. Equities analysts anticipate that Rapid7, Inc. will post ($0.62) EPS for the current year.
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A number of research firms have commented on RPD. Zacks Investment Research cut shares of Rapid7 from a “hold” rating to a “sell” rating in a research report on Saturday. Susquehanna Bancshares Inc raised shares of Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 target price for the company in a research report on Tuesday, August 8th. Northland Securities reaffirmed a “buy” rating and issued a $23.00 price target on shares of Rapid7 in a research note on Friday, July 14th. UBS AG raised Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 price target for the company in a research note on Tuesday, August 8th. Finally, BidaskClub downgraded Rapid7 from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $19.94.
In other news, COO Andrew F. Burton sold 37,843 shares of the company’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $16.95, for a total value of $641,438.85. Following the completion of the transaction, the chief operating officer now owns 238,158 shares of the company’s stock, valued at $4,036,778.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jay C. Hoag sold 1,400,000 shares of the 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 disclosure for this sale can be found here. Corporate 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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