Rapid7, Inc. (NASDAQ:RPD) Stock Position Raised by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its holdings in Rapid7, Inc. (NASDAQ:RPD) by 3.0% during the third quarter, HoldingsChannel.com reports. The fund owned 125,678 shares of the technology company’s stock after acquiring an additional 3,634 shares during the period. Asset Management One Co. Ltd.’s holdings in Rapid7 were worth $5,013,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Comerica Bank grew its position in shares of 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 acquiring an additional 281 shares during the last quarter. Virtu Financial LLC grew its position 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 purchasing an additional 346 shares during the last quarter. 1620 Investment Advisors Inc. increased its stake in shares of Rapid7 by 14.5% in the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after purchasing an additional 352 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Rapid7 by 10.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock valued at $185,000 after buying an additional 400 shares during the last quarter. Finally, Arizona State Retirement System boosted 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 buying an additional 465 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the company. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and cut their target price for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. Royal Bank of Canada cut shares of Rapid7 from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $50.00 to $40.00 in a research note on Friday, September 20th. StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday. UBS Group lowered their target price on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Robert W. Baird lowered shares of Rapid7 from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $56.00 to $45.00 in a research note on Thursday, August 1st. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.59.

Rapid7 Stock Down 1.8 %

NASDAQ:RPD opened at $40.54 on Friday. The stock has a fifty day simple moving average of $38.02 and a 200 day simple moving average of $38.76. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 64.35 and a beta of 0.96. Rapid7, Inc. has a 1-year low of $32.94 and a 1-year high of $61.88.

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

Insider Buying and Selling

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the business’s stock in a transaction 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 directly owns 17,460 shares of the company’s stock, valued at $698,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.60% of the company’s stock.

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.