Concentric Capital Strategies LP Has $524,000 Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Concentric Capital Strategies LP cut its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 70.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,016 shares of the technology company’s stock after selling 30,441 shares during the period. Concentric Capital Strategies LP’s holdings in Rapid7 were worth $524,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RPD. Dendur Capital LP bought a new position in shares of Rapid7 during the fourth quarter valued at $19,190,000. Raymond James Financial Inc. acquired a new stake in Rapid7 in the fourth quarter valued at $12,050,000. Marshall Wace LLP raised its position in Rapid7 by 144.2% during the 4th quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock worth $19,137,000 after purchasing an additional 280,913 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Rapid7 by 259.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock worth $11,625,000 after buying an additional 208,501 shares during the period. Finally, 13D Management LLC bought a new stake in shares of Rapid7 in the 4th quarter valued at about $5,455,000. 95.66% of the stock is currently owned by institutional investors.

Rapid7 Trading Up 2.9 %

RPD opened at $25.23 on Friday. Rapid7, Inc. has a 1-year low of $21.61 and a 1-year high of $44.48. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 64.69 and a beta of 1.06. The company’s fifty day moving average price is $25.70 and its two-hundred day moving average price is $34.45.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. As a group, equities analysts forecast that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. DA Davidson cut their price objective on Rapid7 from $35.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 25th. Stephens initiated coverage on shares of Rapid7 in a research report on Tuesday, April 1st. They issued an “equal weight” rating and a $33.00 price target on the stock. Morgan Stanley decreased their price objective on shares of Rapid7 from $33.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Raymond James dropped their target price on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Fourteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $37.32.

Insider Activity

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the sale, the insider now 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 filing with the SEC, which is accessible through the SEC website. Corporate 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.