Pier Capital LLC Raises Holdings in Rapid7, Inc. (NASDAQ:RPD)

Pier Capital LLC increased its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,347 shares of the technology company’s stock after acquiring an additional 6,179 shares during the quarter. Pier Capital LLC owned approximately 0.29% of Rapid7 worth $7,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Rapid7 by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock valued at $346,721,000 after acquiring an additional 60,095 shares during the last quarter. Geode Capital Management LLC increased its holdings in Rapid7 by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock valued at $58,330,000 after purchasing an additional 15,287 shares during the period. Charles Schwab Investment Management Inc. raised its position in Rapid7 by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 520,006 shares of the technology company’s stock valued at $20,920,000 after purchasing an additional 8,918 shares during the last quarter. Thematics Asset Management lifted its holdings in Rapid7 by 33.0% in the 3rd quarter. Thematics Asset Management now owns 399,000 shares of the technology company’s stock worth $15,916,000 after buying an additional 99,000 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Rapid7 in the 4th quarter worth approximately $12,050,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Rapid7 Trading Up 5.0 %

NASDAQ RPD opened at $29.70 on Tuesday. Rapid7, Inc. has a 12 month low of $26.77 and a 12 month high of $50.55. The stock’s fifty day moving average price is $33.96 and its 200-day moving average price is $37.53. The stock has a market cap of $1.90 billion, a P/E ratio of 76.15 and a beta of 0.92.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate 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 forecast that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on RPD. JPMorgan Chase & Co. decreased their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Robert W. Baird decreased their price objective on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Jefferies Financial Group dropped their target price on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus reduced their price target 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. Finally, StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Fifteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.50.

Insider Activity at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the sale, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by insiders.

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.