Exchange Traded Concepts LLC Buys 446 Shares of Rapid7, Inc. (NASDAQ:RPD)

Exchange Traded Concepts LLC raised its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,154 shares of the technology company’s stock after purchasing an additional 446 shares during the period. Exchange Traded Concepts LLC owned 0.11% of Rapid7 worth $2,782,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of RPD. SG Americas Securities LLC grew its stake in shares of Rapid7 by 126.6% during the 4th quarter. SG Americas Securities LLC now owns 9,908 shares of the technology company’s stock worth $399,000 after acquiring an additional 5,536 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Rapid7 by 106.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 49,155 shares of the technology company’s stock valued at $1,978,000 after purchasing an additional 25,398 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Rapid7 by 259.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock worth $11,625,000 after purchasing an additional 208,501 shares during the period. Diversified Trust Co increased its stake in shares of Rapid7 by 8.6% in the fourth quarter. Diversified Trust Co now owns 21,534 shares of the technology company’s stock worth $866,000 after purchasing an additional 1,708 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Rapid7 by 100.8% in the fourth quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company’s stock valued at $3,030,000 after purchasing an additional 37,708 shares during the period. 95.66% of the stock is owned by institutional investors.

Rapid7 Price Performance

RPD opened at $38.90 on Friday. The business’s fifty day simple moving average is $40.51 and its 200 day simple moving average is $39.01. Rapid7, Inc. has a 52 week low of $32.94 and a 52 week high of $61.88. The stock has a market cap of $2.46 billion, a PE ratio of 61.75 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last announced 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 firm had revenue of $214.65 million for the quarter, compared to analyst estimates of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The company’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 EPS. As a group, equities analysts anticipate that Rapid7, Inc. will post 0.98 earnings per share for the current year.

Insider Activity

In related news, CEO Corey E. Thomas sold 100,000 shares of the firm’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 transaction of $3,938,000.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RPD has been the subject of several analyst reports. Jefferies Financial Group began coverage on shares of Rapid7 in a report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price objective for the company. Scotiabank raised their price target on Rapid7 from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. UBS Group decreased their price objective on Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Truist Financial cut their target price on Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Finally, StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Fifteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $43.76.

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.