Rapid7, Inc. (NASDAQ:RPD) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in Rapid7, Inc. (NASDAQ:RPD) by 672.3% during the fourth quarter, Holdings Channel reports. The firm owned 43,604 shares of the technology company’s stock after buying an additional 37,958 shares during the quarter. Teacher Retirement System of Texas’ holdings in Rapid7 were worth $1,754,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Rapid7 by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock valued at $58,330,000 after buying an additional 15,287 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Rapid7 by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,006 shares of the technology company’s stock worth $20,920,000 after purchasing an additional 8,918 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Rapid7 during the fourth quarter worth about $12,050,000. Harbor Capital Advisors Inc. boosted its stake in shares of Rapid7 by 259.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock valued at $11,625,000 after purchasing an additional 208,501 shares during the period. Finally, 272 Capital LP grew its holdings in shares of Rapid7 by 33.4% in the third quarter. 272 Capital LP now owns 215,287 shares of the technology company’s stock valued at $8,588,000 after purchasing an additional 53,849 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Jefferies Financial Group decreased their price target on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research note on Thursday, February 13th. Morgan Stanley assumed coverage on Rapid7 in a report on Tuesday, March 18th. They set an “equal weight” rating and a $33.00 price target on the stock. Scotiabank lowered their price objective on Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Finally, Stifel Nicolaus cut their target price on shares of Rapid7 from $42.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $39.94.

Rapid7 Stock Down 1.7 %

Shares of NASDAQ RPD opened at $28.71 on Friday. The business has a 50-day moving average price of $33.32 and a 200 day moving average price of $37.38. The stock has a market cap of $1.84 billion, a PE ratio of 73.62 and a beta of 0.92. Rapid7, Inc. has a 52-week low of $26.77 and a 52-week high of $50.55.

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 net margin of 3.46% and a negative return on equity of 130.41%. Sell-side analysts anticipate that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Insiders Place Their Bets

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the sale, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. This trade represents a 18.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by 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.