RPg Family Wealth Advisory LLC Acquires New Holdings in Rapid7, Inc. (NASDAQ:RPD)

RPg Family Wealth Advisory LLC bought a new stake in Rapid7, Inc. (NASDAQ:RPD) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 1,726 shares of the technology company’s stock, valued at approximately $69,000.

Several other institutional investors and hedge funds have also bought and sold shares of RPD. Russell Investments Group Ltd. raised its position in Rapid7 by 80.5% in the first quarter. Russell Investments Group Ltd. now owns 3,068 shares of the technology company’s stock worth $150,000 after acquiring an additional 1,368 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Rapid7 by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock valued at $24,691,000 after purchasing an additional 18,907 shares in the last quarter. Comerica Bank grew its holdings in Rapid7 by 1.1% during the first quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock valued at $1,243,000 after purchasing an additional 281 shares during the period. Virtu Financial LLC grew its holdings in Rapid7 by 7.1% during the first quarter. Virtu Financial LLC now owns 5,198 shares of the technology company’s stock valued at $255,000 after purchasing an additional 346 shares during the period. Finally, Harbor Capital Advisors Inc. increased its position in Rapid7 by 111.5% in the second quarter. Harbor Capital Advisors Inc. now owns 13,610 shares of the technology company’s stock worth $588,000 after buying an additional 7,175 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Rapid7 Stock Performance

NASDAQ RPD opened at $42.53 on Thursday. The stock has a 50 day moving average price of $39.53 and a 200-day moving average price of $38.46. Rapid7, Inc. has a one year low of $32.94 and a one year high of $61.88. The company has a market capitalization of $2.69 billion, a P/E ratio of 68.73 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.52 by $0.14. The business had revenue of $214.65 million during the quarter, compared to analyst estimates of $210.04 million. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. Rapid7’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.11 earnings per share. As a group, equities analysts predict that Rapid7, Inc. will post 0.98 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and cut their price objective for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and dropped their price target for the stock from $52.00 to $43.00 in a research report on Wednesday, August 7th. DA Davidson increased their price objective on shares of Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada lowered Rapid7 from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $50.00 to $40.00 in a research note on Friday, September 20th. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Rapid7 presently has an average rating of “Hold” and a consensus target price of $44.59.

Insider Buying and Selling

In other news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the transaction, the director now directly owns 17,460 shares of the company’s stock, valued at approximately $698,400. This trade represents a 17.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by corporate insiders.

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.