Rapid7, Inc. (NASDAQ:RPD) Shares Purchased by Algert Global LLC

Algert Global LLC raised its holdings in Rapid7, Inc. (NASDAQ:RPD) by 158.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 121,953 shares of the technology company’s stock after acquiring an additional 74,793 shares during the period. Algert Global LLC’s holdings in Rapid7 were worth $5,272,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in RPD. Point72 Asset Management L.P. increased its holdings in shares of Rapid7 by 252.0% during the 2nd 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. First Trust Advisors LP raised its position in shares of Rapid7 by 49.2% in the fourth quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after acquiring an additional 1,124,429 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Rapid7 by 46.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock worth $61,512,000 after acquiring an additional 397,968 shares in the last quarter. Cannae Holdings Inc. acquired a new stake in shares of Rapid7 during the 2nd quarter valued at about $15,130,000. Finally, SG Americas Securities LLC increased its stake in shares of Rapid7 by 7,688.6% in the 2nd quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock valued at $7,141,000 after purchasing an additional 163,075 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RPD shares. Baird R W downgraded Rapid7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Scotiabank decreased their target price on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada lowered shares of Rapid7 from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $50.00 to $40.00 in a report on Friday, September 20th. KeyCorp raised shares of Rapid7 to a “hold” rating in a report on Monday, June 17th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.13.

Rapid7 Stock Up 1.0 %

Shares of NASDAQ:RPD opened at $37.36 on Monday. The business has a fifty day moving average of $36.61 and a two-hundred day moving average of $40.44. The stock has a market cap of $2.34 billion, a P/E ratio of -18.22 and a beta of 0.96. Rapid7, Inc. has a 52-week low of $32.94 and a 52-week high of $61.88.

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

Rapid7 Company 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.