Cerity Partners LLC Makes New Investment in Rapid7, Inc. (NASDAQ:RPD)

Cerity Partners LLC bought a new stake in shares of Rapid7, Inc. (NASDAQ:RPD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,614 shares of the technology company’s stock, valued at approximately $206,000.

Other large investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Rapid7 by 1.8% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 11,829 shares of the technology company’s stock worth $538,000 after purchasing an additional 213 shares during the last quarter. Arizona State Retirement System increased its stake in Rapid7 by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 17,184 shares of the technology company’s stock valued at $787,000 after purchasing an additional 320 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in 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 last quarter. Bailard Inc. lifted its stake in shares of Rapid7 by 1.5% in the third quarter. Bailard Inc. now owns 23,358 shares of the technology company’s stock worth $1,069,000 after buying an additional 339 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Rapid7 by 1.0% during 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 during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RPD shares. UBS Group upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $53.00 to $70.00 in a report on Monday, January 29th. StockNews.com cut Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Citigroup raised Rapid7 from a “neutral” rating to a “buy” rating and increased their price objective for the company from $54.00 to $65.00 in a research report on Tuesday, January 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of Rapid7 in a report on Thursday, February 8th. Finally, Barclays upped their target price on shares of Rapid7 from $58.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $55.56.

Rapid7 Trading Down 0.5 %

Shares of NASDAQ RPD opened at $45.68 on Tuesday. Rapid7, Inc. has a 12-month low of $39.49 and a 12-month high of $61.88. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of -18.20 and a beta of 1.01. The firm has a 50 day moving average of $50.97 and a 200 day moving average of $53.07.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.27. The business had revenue of $205.27 million for the quarter, compared to analysts’ expectations of $201.52 million. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. Sell-side analysts predict that Rapid7, Inc. will post 0.86 EPS for the current year.

Insider Activity at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction on Monday, April 8th. The shares were 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 directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was 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 directly 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 can be accessed through this hyperlink. Also, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the transaction, the chief operating officer now owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

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.