Diametric Capital LP Makes New $286,000 Investment in Rapid7, Inc. (NASDAQ:RPD)

Diametric Capital LP acquired a new stake in Rapid7, Inc. (NASDAQ:RPD) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 7,097 shares of the technology company’s stock, valued at approximately $286,000.

Other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB grew its stake in shares of Rapid7 by 100.8% in the 4th quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company’s stock valued at $3,030,000 after buying an additional 37,708 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Rapid7 in the fourth quarter valued at $12,050,000. Stifel Financial Corp purchased a new stake in Rapid7 during the 3rd quarter worth about $1,006,000. Harbor Capital Advisors Inc. increased its holdings in Rapid7 by 259.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock worth $11,625,000 after acquiring an additional 208,501 shares during the period. Finally, Principal Financial Group Inc. grew its position in Rapid7 by 13.9% during the fourth quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company’s stock worth $2,185,000 after buying an additional 6,645 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RPD shares. Jefferies Financial Group decreased their price target on shares of Rapid7 from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research note on Thursday, February 13th. Morgan Stanley began 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 on the stock. JPMorgan Chase & Co. decreased their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Finally, Barclays decreased their price target on shares of Rapid7 from $43.00 to $35.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $39.05.

Rapid7 Price Performance

Rapid7 stock opened at $26.78 on Wednesday. Rapid7, Inc. has a one year low of $25.98 and a one year high of $50.55. The business’s fifty day moving average is $32.60 and its 200 day moving average is $37.27. The stock has a market capitalization of $1.71 billion, a PE ratio of 68.67 and a beta of 0.92.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. As a group, sell-side analysts expect that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Insider Buying and Selling at Rapid7

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

Rapid7 Company Profile

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.