Hillsdale Investment Management Inc. Invests $3.81 Million in Rapid7, Inc. (NASDAQ:RPD)

Hillsdale Investment Management Inc. acquired a new position in Rapid7, Inc. (NASDAQ:RPD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 77,650 shares of the technology company’s stock, valued at approximately $3,808,000. Hillsdale Investment Management Inc. owned about 0.12% of Rapid7 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Blair William & Co. IL boosted its stake in Rapid7 by 7.7% during the first quarter. Blair William & Co. IL now owns 77,016 shares of the technology company’s stock worth $3,777,000 after buying an additional 5,480 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Rapid7 by 16.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 19,921 shares of the technology company’s stock worth $915,000 after buying an additional 2,790 shares in the last quarter. ProShare Advisors LLC boosted its stake in Rapid7 by 8.0% during the first quarter. ProShare Advisors LLC now owns 11,175 shares of the technology company’s stock worth $548,000 after buying an additional 823 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Rapid7 by 80.5% during the first quarter. Russell Investments Group Ltd. now owns 3,068 shares of the technology company’s stock worth $150,000 after buying an additional 1,368 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in Rapid7 by 99.2% during the first quarter. Headlands Technologies LLC now owns 4,267 shares of the technology company’s stock worth $209,000 after buying an additional 2,125 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

RPD has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a research note on Friday, May 10th. Citigroup cut their price objective on Rapid7 from $65.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Mizuho cut their price objective on Rapid7 from $62.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Canaccord Genuity Group cut their price objective on Rapid7 from $60.00 to $52.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. Finally, Susquehanna cut their price objective on Rapid7 from $55.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, May 13th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $51.13.

Rapid7 Stock Performance

NASDAQ:RPD traded down $0.01 on Monday, hitting $39.99. 981,522 shares of the stock were exchanged, compared to its average volume of 924,171. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -19.51 and a beta of 0.98. Rapid7, Inc. has a 52 week low of $35.08 and a 52 week high of $61.88. The company’s 50-day moving average price is $38.87 and its 200 day moving average price is $47.21.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $205.10 million during the quarter, compared to analysts’ expectations of $204.10 million. Rapid7 had a negative return on equity of 31.09% and a negative net margin of 15.14%. As a group, equities research analysts predict that Rapid7, Inc. will post 0.75 earnings per share for the current year.

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.