Rhumbline Advisers Has $2.42 Million Holdings in Rapid7, Inc. (NASDAQ:RPD)

Rhumbline Advisers raised its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,191 shares of the technology company’s stock after buying an additional 2,262 shares during the quarter. Rhumbline Advisers owned about 0.14% of Rapid7 worth $2,417,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ increased its position in shares of Rapid7 by 68.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after purchasing an additional 455 shares during the period. Ostrum Asset Management increased its position in shares of Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock valued at $100,000 after purchasing an additional 772 shares during the period. Versant Capital Management Inc increased its position in shares of Rapid7 by 5,311.1% during the first quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company’s stock valued at $39,000 after purchasing an additional 1,434 shares during the period. Graham Capital Management L.P. increased its position in shares of Rapid7 by 11.8% during the fourth quarter. Graham Capital Management L.P. now owns 17,230 shares of the technology company’s stock valued at $693,000 after purchasing an additional 1,813 shares during the period. Finally, Invesco Ltd. increased its position in shares of Rapid7 by 5.4% during the fourth quarter. Invesco Ltd. now owns 36,487 shares of the technology company’s stock valued at $1,468,000 after purchasing an additional 1,860 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Stock Up 0.1%

Shares of RPD opened at $23.54 on Tuesday. Rapid7, Inc. has a 12-month low of $21.61 and a 12-month high of $44.48. The firm has a market capitalization of $1.51 billion, a PE ratio of 60.36 and a beta of 1.02. The stock’s fifty day simple moving average is $23.62 and its 200-day simple moving average is $31.10.

Rapid7 (NASDAQ:RPD) last released its earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. The firm had revenue of $210.25 million for the quarter, compared to analyst estimates of $208.25 million. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts anticipate that Rapid7, Inc. will post 0.35 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Jefferies Financial Group lowered their price objective on Rapid7 from $45.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Royal Bank of Canada reiterated a “sector perform” rating on shares of Rapid7 in a research report on Tuesday, May 13th. Susquehanna lowered their price target on Rapid7 from $40.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Mizuho set a $30.00 price target on Rapid7 in a research report on Wednesday, April 16th. Finally, Stephens initiated coverage on Rapid7 in a research report on Tuesday, April 1st. They issued an “equal weight” rating and a $33.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.32.

Insiders Place Their Bets

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the transaction, the insider now directly owns 58,165 shares in the company, valued at $1,344,774.80. This trade represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

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.