Legal & General Group Plc Increases Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Legal & General Group Plc boosted its stake in Rapid7, Inc. (NASDAQ:RPD) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 707,556 shares of the technology company’s stock after purchasing an additional 6,269 shares during the period. Legal & General Group Plc owned about 1.12% of Rapid7 worth $28,465,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted 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 valued at $60,000 after purchasing an additional 347 shares during the period. Exchange Traded Concepts LLC boosted its position in Rapid7 by 0.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock valued at $2,782,000 after buying an additional 446 shares during the period. Skandinaviska Enskilda Banken AB publ grew 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 acquiring an additional 455 shares in the last quarter. KBC Group NV increased its position in shares of Rapid7 by 47.7% during the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after acquiring an additional 867 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Rapid7 by 17.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,900 shares of the technology company’s stock valued at $358,000 after acquiring an additional 1,335 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Rapid7 Stock Performance

Shares of RPD opened at $23.57 on Monday. Rapid7, Inc. has a 1 year low of $22.08 and a 1 year high of $48.00. The stock has a market capitalization of $1.51 billion, a P/E ratio of 60.44 and a beta of 0.99. The company’s fifty day moving average is $29.66 and its two-hundred day moving average is $36.49.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. Sell-side analysts predict that Rapid7, Inc. will post 0.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RPD. Barclays cut their price target on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Citigroup cut their target price on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus decreased their price target on shares of Rapid7 from $42.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. UBS Group lowered their price target on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, DA Davidson reduced their price objective on shares of Rapid7 from $35.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $39.05.

Insider Activity at Rapid7

In other news, insider Christina Luconi sold 12,551 shares of Rapid7 stock in a transaction that occurred 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 directly owns 58,165 shares in the company, valued at approximately $1,344,774.80. This trade represents a 17.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the sale, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Rapid7 Company 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.