International Assets Investment Management LLC Raises Stake in Rapid7, Inc. (NASDAQ:RPD)

International Assets Investment Management LLC boosted its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 3,888.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 678 shares of the technology company’s stock after buying an additional 661 shares during the quarter. International Assets Investment Management LLC’s holdings in Rapid7 were worth $27,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of Rapid7 in the 2nd quarter valued at about $35,000. Summit Securities Group LLC purchased a new stake in Rapid7 in the 2nd quarter worth approximately $43,000. Financial Connections Group Inc. acquired a new stake in shares of Rapid7 during the 2nd quarter worth approximately $72,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Rapid7 during the 1st quarter worth approximately $83,000. Finally, Point72 Hong Kong Ltd increased its holdings in shares of Rapid7 by 315.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock valued at $90,000 after purchasing an additional 1,575 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RPD has been the topic of a number of recent analyst reports. Royal Bank of Canada downgraded shares of Rapid7 from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $50.00 to $40.00 in a report on Friday, September 20th. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday. Robert W. Baird downgraded shares of Rapid7 from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $56.00 to $45.00 in a report on Thursday, August 1st. JPMorgan Chase & Co. boosted 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. Finally, Truist Financial decreased their price target on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $44.59.

Rapid7 Price Performance

Shares of NASDAQ RPD opened at $40.54 on Friday. The company has a market capitalization of $2.54 billion, a P/E ratio of 64.35 and a beta of 0.96. The company has a 50 day simple moving average of $38.02 and a 200-day simple moving average of $38.76. Rapid7, Inc. has a 1 year low of $32.94 and a 1 year high of $61.88.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.06. Rapid7 had a negative return on equity of 99.08% and a net margin of 5.65%. The company had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. During the same quarter last year, the firm earned ($0.33) earnings per share. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, research analysts expect that Rapid7, Inc. will post 0.8 EPS for the current year.

Insider Transactions at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the transaction, the director now directly owns 17,460 shares in the company, valued at approximately $698,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

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.