13,400 Shares in Rapid7, Inc. (NASDAQ:RPD) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in shares of Rapid7, Inc. (NASDAQ:RPD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,400 shares of the technology company’s stock, valued at approximately $539,000.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in Rapid7 by 30.4% in 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 last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Rapid7 by 0.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock valued at $2,782,000 after purchasing an additional 446 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Rapid7 by 68.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after purchasing an additional 455 shares during the last quarter. KBC Group NV grew its stake 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 worth $108,000 after purchasing an additional 867 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Rapid7 by 3.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,078 shares of the technology company’s stock valued at $1,280,000 after purchasing an additional 965 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RPD has been the subject of several recent analyst reports. Truist Financial lowered their target price on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Morgan Stanley initiated coverage on shares of Rapid7 in a research report on Tuesday, March 18th. They issued an “equal weight” rating and a $33.00 price objective for the company. Scotiabank dropped their price objective on Rapid7 from $42.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research note on Thursday, February 13th. Finally, Jefferies Financial Group dropped their price target on Rapid7 from $45.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday. Fifteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $39.05.

Insider Activity

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the transaction, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

Rapid7 Stock Performance

Shares of RPD stock opened at $25.58 on Friday. Rapid7, Inc. has a 52 week low of $25.48 and a 52 week high of $50.55. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 65.59 and a beta of 0.99. The company has a 50-day simple moving average of $32.09 and a 200 day simple moving average of $37.13.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. Sell-side analysts forecast that Rapid7, Inc. will post 0.35 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.