RPg Family Wealth Advisory LLC Buys New Position in Rapid7, Inc. (NASDAQ:RPD)

RPg Family Wealth Advisory LLC acquired a new position in Rapid7, Inc. (NASDAQ:RPD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,726 shares of the technology company’s stock, valued at approximately $69,000.

Several other institutional investors also recently modified their holdings of the business. Comerica Bank boosted its position in Rapid7 by 1.1% during the first quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock worth $1,243,000 after purchasing an additional 281 shares during the period. Virtu Financial LLC boosted its holdings in Rapid7 by 7.1% in the 1st quarter. Virtu Financial LLC now owns 5,198 shares of the technology company’s stock worth $255,000 after buying an additional 346 shares during the period. 1620 Investment Advisors Inc. grew its stake in Rapid7 by 14.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after buying an additional 352 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Rapid7 by 10.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock valued at $185,000 after acquiring an additional 400 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Rapid7 by 2.8% during the second quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock worth $750,000 after acquiring an additional 465 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $42.53 on Thursday. The company has a 50 day simple moving average of $39.53 and a two-hundred day simple moving average of $38.46. Rapid7, Inc. has a fifty-two week low of $32.94 and a fifty-two week high of $61.88. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 68.73 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The company had revenue of $214.65 million during the quarter, compared to analyst estimates of $210.04 million. During the same quarter last year, the company earned $0.11 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts forecast that Rapid7, Inc. will post 0.98 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now owns 17,460 shares in the company, valued at $698,400. This represents a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RPD. Scotiabank dropped their price objective on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird downgraded shares of Rapid7 from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $56.00 to $45.00 in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on shares of Rapid7 from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler cut their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Jefferies Financial Group initiated coverage on shares of Rapid7 in a report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price target on the stock. Fourteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rapid7 presently has an average rating of “Hold” and an average price target of $44.59.

Rapid7 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.