Mather Group LLC. Invests $42,000 in Rapid7, Inc. (NASDAQ:RPD)

Mather Group LLC. purchased a new position in shares of Rapid7, Inc. (NASDAQ:RPD) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 858 shares of the technology company’s stock, valued at approximately $42,000.

Several other hedge funds have also added to or reduced their stakes in the company. Natixis Advisors L.P. lifted its holdings in Rapid7 by 2.0% during the 4th quarter. Natixis Advisors L.P. now owns 17,446 shares of the technology company’s stock worth $996,000 after purchasing an additional 344 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Rapid7 by 11.6% in the 4th quarter. Principal Financial Group Inc. now owns 6,998 shares of the technology company’s stock valued at $400,000 after acquiring an additional 727 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Rapid7 by 3,367.9% in the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after acquiring an additional 943 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Rapid7 by 12.5% in the 4th quarter. Handelsbanken Fonder AB now owns 9,900 shares of the technology company’s stock valued at $565,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Strs Ohio raised its holdings in Rapid7 by 50.0% in the 4th quarter. Strs Ohio now owns 3,900 shares of the technology company’s stock valued at $222,000 after acquiring an additional 1,300 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.60% of the stock is owned by company insiders.

Rapid7 Trading Up 1.0 %

NASDAQ RPD opened at $38.50 on Tuesday. The business’s 50-day moving average price is $39.96 and its two-hundred day moving average price is $49.54. Rapid7, Inc. has a 12 month low of $35.08 and a 12 month high of $61.88. The firm has a market capitalization of $2.40 billion, a PE ratio of -18.78 and a beta of 0.98.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. The company had revenue of $205.10 million for the quarter, compared to the consensus estimate of $204.10 million. Rapid7 had a negative return on equity of 31.09% and a negative net margin of 15.14%. As a group, analysts forecast that Rapid7, Inc. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RPD shares. Royal Bank of Canada dropped their price objective on Rapid7 from $70.00 to $57.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. KeyCorp raised Rapid7 to a “hold” rating in a report on Monday, June 17th. Citigroup lowered their price target on Rapid7 from $65.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. UBS Group lowered their price target on Rapid7 from $70.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, Scotiabank began coverage on Rapid7 in a report on Friday, April 26th. They set a “sector perform” rating and a $46.00 price target for the company. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $51.73.

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.