State Street Corp lifted its holdings in Rapid7, Inc. (NASDAQ:RPD) by 11.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 336,941 shares of the technology company’s stock after purchasing an additional 34,995 shares during the quarter. State Street Corp owned 0.78% of Rapid7 worth $5,669,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Citigroup Inc. raised its position in Rapid7 by 1,398.9% during the second quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock worth $165,000 after acquiring an additional 9,135 shares in the last quarter. BT Investment Management Ltd bought a new stake in Rapid7 during the second quarter worth $169,000. Goldman Sachs Group Inc. bought a new stake in Rapid7 during the first quarter worth $218,000. Menta Capital LLC bought a new stake in Rapid7 during the second quarter worth $227,000. Finally, GLG Partners LP bought a new stake in Rapid7 during the second quarter worth $236,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on RPD. Zacks Investment Research lowered shares of Rapid7 from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Susquehanna Bancshares raised shares of Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 price objective on the stock in a research report on Tuesday, August 8th. BidaskClub lowered shares of Rapid7 from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada increased their price objective on shares of Rapid7 from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. Finally, Needham & Company LLC assumed coverage on shares of Rapid7 in a research report on Monday, October 23rd. They issued a “buy” rating and a $23.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $20.83.
Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Tuesday, November 7th. The technology company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. Rapid7 had a negative net margin of 22.44% and a negative return on equity of 115.79%. The business had revenue of $50.50 million for the quarter, compared to the consensus estimate of $49.87 million. During the same period in the prior year, the company posted ($0.13) earnings per share. Rapid7’s revenue was up 25.3% compared to the same quarter last year. equities research analysts expect that Rapid7, Inc. will post -1.03 earnings per share for the current fiscal year.
In other Rapid7 news, Director Jay C. Hoag sold 35,246 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $19.40, for a total transaction of $683,772.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Alan Matthews sold 52,770 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $17.22, for a total transaction of $908,699.40. Following the sale, the chairman now owns 3,152,177 shares in the company, valued at $54,280,487.94. The disclosure for this sale can be found here. Insiders sold 1,150,123 shares of company stock worth $21,035,288 over the last 90 days. 56.90% of the stock is currently owned by corporate insiders.
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Rapid7 Company Profile
Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.
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