Tempus Wealth Planning LLC Acquires Shares of 6,619 Rapid7, Inc. (NASDAQ:RPD)

Tempus Wealth Planning LLC acquired a new stake in shares of Rapid7, Inc. (NASDAQ:RPD) in the 3rd quarter, HoldingsChannel reports. The firm acquired 6,619 shares of the technology company’s stock, valued at approximately $264,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RPD. Point72 Asset Management L.P. raised its stake in 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 acquiring an additional 2,719,791 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 valued at $61,512,000 after acquiring an additional 397,968 shares during the last quarter. Cannae Holdings Inc. purchased a new stake in Rapid7 during the 2nd quarter valued at approximately $15,130,000. SG Americas Securities LLC raised 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 valued at $7,141,000 after acquiring an additional 163,075 shares during the last quarter. Finally, 272 Capital LP purchased a new position in shares of Rapid7 during the 2nd quarter worth approximately $6,979,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rapid7

In other Rapid7 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 transaction 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 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by insiders.

Rapid7 Stock Performance

Shares of NASDAQ:RPD opened at $38.26 on Thursday. The business’s fifty day moving average price is $37.40 and its two-hundred day moving average price is $39.24. The stock has a market cap of $2.40 billion, a PE ratio of -45.55 and a beta of 0.97. Rapid7, Inc. has a one year low of $32.94 and a one 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, beating analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $207.99 million for the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. Rapid7’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.33) EPS. As a group, equities research analysts predict that Rapid7, Inc. will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RPD shares. UBS Group cut their target price on Rapid7 from $65.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th. Robert W. Baird downgraded Rapid7 from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $56.00 to $45.00 in a research note on Thursday, August 1st. Jefferies Financial Group started coverage on Rapid7 in a research note on Wednesday, October 16th. They set a “buy” rating and a $50.00 target price for the company. Finally, Piper Sandler cut their target price on Rapid7 from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Rapid7 currently has a consensus rating of “Hold” and an average target price of $46.06.

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.