Rapid7, Inc. (NASDAQ:RPD) Stake Boosted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Rapid7, Inc. (NASDAQ:RPD) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,900 shares of the technology company’s stock after purchasing an additional 1,335 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Rapid7 were worth $358,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. E. Ohman J or Asset Management AB bought a new position in Rapid7 during the 4th quarter worth $1,408,000. Pacer Advisors Inc. boosted its holdings in shares of Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after acquiring an additional 347 shares during the period. KBC Group NV boosted its holdings in shares of Rapid7 by 47.7% during the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after acquiring an additional 867 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Rapid7 by 0.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock worth $2,782,000 after acquiring an additional 446 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Rapid7 by 126.6% in the 4th quarter. SG Americas Securities LLC now owns 9,908 shares of the technology company’s stock valued at $399,000 after purchasing an additional 5,536 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling

In related news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at $16,991,249.22. The trade was a 18.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on RPD. Truist Financial dropped their price target on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday. StockNews.com cut Rapid7 from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus cut their target price on Rapid7 from $42.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday. Jefferies Financial Group decreased their price target on Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Scotiabank cut their price objective on shares of Rapid7 from $42.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Thursday. Sixteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.22.

Rapid7 Trading Down 5.4 %

RPD opened at $34.82 on Friday. Rapid7, Inc. has a 1-year low of $32.94 and a 1-year high of $61.79. The business has a 50 day moving average of $39.39 and a 200-day moving average of $38.84. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 55.27 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. Equities analysts predict that Rapid7, Inc. will post 0.98 EPS for the current year.

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.