Cerity Partners LLC Buys New Shares in Rapid7, Inc. (NASDAQ:RPD)

Cerity Partners LLC purchased a new position in Rapid7, Inc. (NASDAQ:RPD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,614 shares of the technology company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. acquired a new stake in Rapid7 in the third quarter valued at approximately $255,000. Raymond James & Associates increased its stake in Rapid7 by 41.5% during the 3rd quarter. Raymond James & Associates now owns 100,806 shares of the technology company’s stock valued at $4,615,000 after purchasing an additional 29,543 shares in the last quarter. Bailard Inc. increased its stake in Rapid7 by 1.5% during the 3rd quarter. Bailard Inc. now owns 23,358 shares of the technology company’s stock valued at $1,069,000 after purchasing an additional 339 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Rapid7 by 1.8% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 11,829 shares of the technology company’s stock worth $538,000 after buying an additional 213 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Rapid7 by 1.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,346 shares of the technology company’s stock valued at $2,259,000 after buying an additional 502 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

Rapid7 Stock Performance

RPD opened at $45.68 on Tuesday. Rapid7, Inc. has a fifty-two week low of $39.49 and a fifty-two week high of $61.88. The firm has a 50-day moving average of $50.97 and a 200 day moving average of $53.07. The firm has a market cap of $2.84 billion, a P/E ratio of -18.20 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.27. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. The firm had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. Equities research analysts predict that Rapid7, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapid7

In related news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the sale, the chief operating officer now owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the sale, the chief operating officer now owns 257,494 shares of the company’s stock, valued at approximately $13,665,206.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the sale, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on RPD shares. Barclays boosted their target price on shares of Rapid7 from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. StockNews.com downgraded Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Scotiabank assumed coverage on Rapid7 in a research report on Friday. They set a “sector perform” rating and a $46.00 target price on the stock. UBS Group upgraded Rapid7 from a “neutral” rating to a “buy” rating and upped their price target for the stock from $53.00 to $70.00 in a report on Monday, January 29th. Finally, Citigroup upgraded Rapid7 from a “neutral” rating to a “buy” rating and raised their price objective for the company from $54.00 to $65.00 in a research note on Tuesday, January 9th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Rapid7 presently has an average rating of “Hold” and a consensus price target of $55.56.

Rapid7 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.