Los Angeles Capital Management LLC lifted its position in Rapid7, Inc. (NASDAQ:RPD – Free Report) by 82.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,481 shares of the technology company’s stock after buying an additional 10,190 shares during the period. Los Angeles Capital Management LLC’s holdings in Rapid7 were worth $1,029,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of RPD. Strs Ohio lifted its position in shares of Rapid7 by 62.5% during the 2nd quarter. Strs Ohio now owns 1,300 shares of the technology company’s stock valued at $58,000 after acquiring an additional 500 shares during the last quarter. State of Wyoming grew its position in Rapid7 by 315.1% during the 4th quarter. State of Wyoming now owns 2,117 shares of the technology company’s stock worth $72,000 after purchasing an additional 1,607 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in Rapid7 during the 3rd quarter valued at $87,000. Natixis Investment Managers International lifted its holdings in shares of Rapid7 by 34.3% in the second quarter. Natixis Investment Managers International now owns 2,303 shares of the technology company’s stock valued at $104,000 after purchasing an additional 588 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Rapid7 by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock worth $134,000 after buying an additional 336 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.
Insider Transactions at Rapid7
In related news, COO Andrew F. Burton sold 17,000 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $53.68, for a total transaction of $912,560.00. Following the transaction, the chief operating officer now owns 224,038 shares of the company’s stock, valued at $12,026,359.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.
Rapid7 Trading Down 5.3 %
Rapid7 (NASDAQ:RPD – Get Free Report) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.16. The business had revenue of $198.84 million during the quarter, compared to the consensus estimate of $197.01 million. As a group, equities research analysts predict that Rapid7, Inc. will post -0.26 earnings per share for the current year.
Analysts Set New Price Targets
Several research analysts recently weighed in on RPD shares. StockNews.com assumed coverage on Rapid7 in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Truist Financial increased their price target on shares of Rapid7 from $40.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Wolfe Research raised shares of Rapid7 from a “peer perform” rating to an “outperform” rating and set a $56.00 price objective on the stock in a research report on Friday, November 3rd. Susquehanna initiated coverage on shares of Rapid7 in a report on Friday, December 15th. They set a “neutral” rating and a $55.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on Rapid7 from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 7th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $54.75.
Rapid7 Company Profile
Rapid7, Inc provides cybersecurity solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cybersecurity risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a cloud risk and compliance management platform; InsightVM helps organizations to discover and remediate vulnerability risk across their network; InsightAppSec that provides dynamic application security testing; and InsightConnect, a security orchestration and automation response solution.
- Five stocks we like better than Rapid7
- How to Choose Top Rated Stocks
- What is a bear market rally? Examples and how they work
- Stock Trading Terms – Stock Terms Every Investor Needs to Know
- 7 best bear market ETFs to battle a decline
- Stock Market Upgrades: What Are They?
- 10 best sugar stocks to buy now
Receive News & Ratings for Rapid7 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rapid7 and related companies with MarketBeat.com's FREE daily email newsletter.