Strs Ohio Acquires 1,300 Shares of Rapid7, Inc. (NASDAQ:RPD)

Strs Ohio lifted its stake in Rapid7, Inc. (NASDAQ:RPD) by 50.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,900 shares of the technology company’s stock after buying an additional 1,300 shares during the quarter. Strs Ohio’s holdings in Rapid7 were worth $222,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of RPD. Tudor Investment Corp Et Al grew its holdings in Rapid7 by 46.5% during the 3rd quarter. Tudor Investment Corp Et Al now owns 145,102 shares of the technology company’s stock valued at $6,643,000 after purchasing an additional 46,053 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Rapid7 by 34.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 42,448 shares of the technology company’s stock worth $2,424,000 after purchasing an additional 10,798 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Rapid7 by 47.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 68,300 shares of the technology company’s stock worth $3,127,000 after buying an additional 22,100 shares during the period. Raymond James & Associates grew its stake in Rapid7 by 41.5% in the 3rd quarter. Raymond James & Associates now owns 100,806 shares of the technology company’s stock worth $4,615,000 after acquiring an additional 29,543 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Rapid7 by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock worth $322,337,000 after purchasing an additional 148,440 shares during the period. 95.66% of the stock is currently owned by institutional investors.

Insider Transactions at Rapid7

In other news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction dated 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 owns 236,841 shares in the company, valued at $11,541,261.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total value of $1,683,751.89. Following the completion of the sale, the chief operating officer now owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of Rapid7 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 transaction, 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. Corporate insiders own 2.60% of the company’s stock.

Rapid7 Trading Down 0.5 %

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

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RPD. StockNews.com cut Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Citigroup raised Rapid7 from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $54.00 to $65.00 in a research report on Tuesday, January 9th. JPMorgan Chase & Co. decreased their price target on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Barclays lifted their price objective 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. Finally, Scotiabank began coverage on shares of Rapid7 in a report on Friday. They issued a “sector perform” rating and a $46.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.56.

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.