GW&K Investment Management LLC increased its position in Rapid7 Inc (NASDAQ:RPD) by 21.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 840,643 shares of the technology company’s stock after purchasing an additional 146,213 shares during the period. GW&K Investment Management LLC’s holdings in Rapid7 were worth $38,157,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of RPD. Ladenburg Thalmann Financial Services Inc. boosted its stake in Rapid7 by 26.4% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,038 shares of the technology company’s stock valued at $61,000 after acquiring an additional 217 shares during the period. Brinker Capital Inc. raised its holdings in shares of Rapid7 by 1.4% during the third quarter. Brinker Capital Inc. now owns 22,672 shares of the technology company’s stock valued at $1,029,000 after buying an additional 315 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Rapid7 by 0.8% during the third quarter. Rhumbline Advisers now owns 62,927 shares of the technology company’s stock valued at $2,856,000 after buying an additional 496 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Rapid7 by 30.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,364 shares of the technology company’s stock valued at $137,000 after buying an additional 554 shares during the last quarter. Finally, Signaturefd LLC bought a new stake in shares of Rapid7 during the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 90.82% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Northland Securities set a $75.00 price target on Rapid7 and gave the company a “buy” rating in a report on Monday, July 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Rapid7 in a report on Tuesday, November 5th. BidaskClub raised Rapid7 from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Royal Bank of Canada lifted their price target on Rapid7 to $70.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Barclays reissued a “buy” rating and set a $69.00 target price on shares of Rapid7 in a report on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $63.33.
Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.20. Rapid7 had a negative net margin of 17.27% and a negative return on equity of 40.74%. The business had revenue of $83.20 million during the quarter, compared to analyst estimates of $80.11 million. During the same quarter in the previous year, the business earned ($0.04) EPS. Rapid7’s quarterly revenue was up 33.3% compared to the same quarter last year. Equities analysts predict that Rapid7 Inc will post -0.62 EPS for the current fiscal year.
In other Rapid7 news, insider Lee David Weiner sold 20,556 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $54.93, for a total transaction of $1,129,141.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Peter Kaes sold 12,881 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $50.03, for a total transaction of $644,436.43. In the last three months, insiders have sold 123,462 shares of company stock valued at $6,505,874. Company insiders own 4.90% of the company’s stock.
Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.
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