Quest Partners LLC Purchases 7,508 Shares of Rapid7, Inc. (NASDAQ:RPD)

Quest Partners LLC grew its holdings in Rapid7, Inc. (NASDAQ:RPD) by 924.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,320 shares of the technology company’s stock after purchasing an additional 7,508 shares during the quarter. Quest Partners LLC’s holdings in Rapid7 were worth $332,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Algert Global LLC lifted its stake in Rapid7 by 158.6% in the second quarter. Algert Global LLC now owns 121,953 shares of the technology company’s stock valued at $5,272,000 after buying an additional 74,793 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Rapid7 by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock worth $24,691,000 after acquiring an additional 18,907 shares during the last quarter. SG Americas Securities LLC boosted its stake in Rapid7 by 7,688.6% during the 2nd quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock worth $7,141,000 after acquiring an additional 163,075 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Rapid7 during the third quarter valued at approximately $948,000. Finally, Point72 Asset Management L.P. increased its stake in Rapid7 by 252.0% in the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock valued at $164,236,000 after purchasing an additional 2,719,791 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Activity at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the sale, the director now owns 17,460 shares in the company, valued at approximately $698,400. This represents a 17.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RPD shares. UBS Group reduced their price target on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Robert W. Baird downgraded 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. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a report on Wednesday, August 7th. Royal Bank of Canada cut Rapid7 from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $50.00 to $40.00 in a research note on Friday, September 20th. Finally, Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their price target for the company from $52.00 to $43.00 in a report on Wednesday, August 7th. Fifteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Rapid7 currently has an average rating of “Hold” and an average target price of $44.59.

Rapid7 Stock Down 0.3 %

NASDAQ:RPD opened at $42.74 on Tuesday. Rapid7, Inc. has a twelve month low of $32.94 and a twelve month high of $61.88. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 67.84 and a beta of 0.96. The stock’s 50 day moving average price is $39.18 and its two-hundred day moving average price is $38.39.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The firm had revenue of $214.65 million for the quarter, compared to analyst estimates of $210.04 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that Rapid7, Inc. will post 0.98 earnings per share for the current year.

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.