Headlands Technologies LLC Has $478,000 Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Headlands Technologies LLC increased its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 159.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,059 shares of the technology company’s stock after buying an additional 6,792 shares during the quarter. Headlands Technologies LLC’s holdings in Rapid7 were worth $478,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RPD. Levin Capital Strategies L.P. bought a new position in shares of Rapid7 in the second quarter worth about $303,000. Quest Partners LLC bought a new position in Rapid7 in the 2nd quarter valued at approximately $35,000. Arizona State Retirement System lifted its stake in Rapid7 by 2.8% in the 2nd quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock valued at $750,000 after purchasing an additional 465 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV boosted its position in Rapid7 by 9.9% in the second quarter. Acorn Financial Advisory Services Inc. ADV now owns 29,425 shares of the technology company’s stock valued at $1,272,000 after buying an additional 2,641 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Rapid7 by 4.9% during the second quarter. Rhumbline Advisers now owns 90,430 shares of the technology company’s stock worth $3,909,000 after buying an additional 4,221 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Rapid7 Price Performance

Shares of NASDAQ:RPD opened at $33.28 on Friday. The business’s 50-day moving average is $37.74 and its 200-day moving average is $42.22. Rapid7, Inc. has a 1 year low of $32.94 and a 1 year high of $61.88. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -16.23 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. The firm had revenue of $207.99 million for the quarter, compared to analyst estimates of $204.04 million. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.33) earnings per share. Analysts anticipate that Rapid7, Inc. will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $46.00 price target on shares of Rapid7 in a research note on Wednesday, July 10th. KeyCorp raised Rapid7 to a “hold” rating in a research note on Monday, June 17th. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and reduced their price target for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on shares of Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $50.00 target price on shares of Rapid7 in a report on Wednesday, August 7th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.75.

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.