Continental Investors Services Inc. Invests $316,000 in Rapid7, Inc. (NASDAQ:RPD)

Continental Investors Services Inc. bought a new position in Rapid7, Inc. (NASDAQ:RPD – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,120 shares of the technology company’s stock, valued at approximately $316,000.

Several other large investors have also recently modified their holdings of RPD. Teachers Retirement System of The State of Kentucky purchased a new position in Rapid7 during the third quarter valued at approximately $1,035,000. Capital Impact Advisors LLC grew its stake in Rapid7 by 21.0% during the third quarter. Capital Impact Advisors LLC now owns 10,891 shares of the technology company’s stock valued at $314,000 after acquiring an additional 1,888 shares in the last quarter. Alamar Capital Management LLC grew its stake in Rapid7 by 15.2% during the third quarter. Alamar Capital Management LLC now owns 32,031 shares of the technology company’s stock valued at $1,374,000 after acquiring an additional 4,219 shares in the last quarter. Dana Investment Advisors Inc. grew its stake in Rapid7 by 7.9% during the third quarter. Dana Investment Advisors Inc. now owns 20,388 shares of the technology company’s stock valued at $875,000 after acquiring an additional 1,492 shares in the last quarter. Finally, Summit Global Investments grew its stake in Rapid7 by 24.9% during the third quarter. Summit Global Investments now owns 10,620 shares of the technology company’s stock valued at $456,000 after acquiring an additional 2,120 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com initiated coverage on shares of Rapid7 in a research note on Thursday. They set a “hold” rating for the company. Canaccord Genuity Group lowered shares of Rapid7 from a “buy” rating to a “hold” rating and decreased their price target for the stock from $55.00 to $52.00 in a report on Thursday, February 9th. Mizuho increased their price target on shares of Rapid7 from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 9th. Piper Sandler lowered shares of Rapid7 from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $45.00 to $52.00 in a report on Thursday, February 9th. Finally, Barclays increased their price target on shares of Rapid7 from $37.00 to $58.00 and gave the stock an “equal weight” rating in a report on Thursday, February 9th. Fourteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.89.

Rapid7 Stock Down 2.7 %

Shares of RPD opened at $39.74 on Friday. The stock has a market capitalization of $2.39 billion, a P/E ratio of -19.08 and a beta of 1.13. The firm has a fifty day simple moving average of $43.25 and a two-hundred day simple moving average of $41.05. Rapid7, Inc. has a twelve month low of $26.49 and a twelve month high of $118.25.

Rapid7 (NASDAQ:RPD – Get Rating) last announced its quarterly earnings results on Wednesday, February 8th. The technology company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.19. The firm had revenue of $184.48 million for the quarter, compared to analysts’ expectations of $179.33 million. Sell-side analysts expect that Rapid7, Inc. will post -1.17 EPS for the current fiscal year.

Rapid7 Profile

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Rapid7, Inc engages in the provision of cyber security analytics and automation services. Its products include Metasploit, Nexpose, AppSpider, tCell by Rapid7, as well as insight platforms such as InsightDR, InsightIVM, InsightAppSec, InsightConnect, and InsightOps. The firm also offers security and product consulting services.