Pitcairn Co. increased its position in Rapid7 Inc (NASDAQ:RPD) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,550 shares of the technology company’s stock after purchasing an additional 256 shares during the quarter. Pitcairn Co.’s holdings in Rapid7 were worth $284,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wasatch Advisors Inc. raised its stake in Rapid7 by 69.7% during the first quarter. Wasatch Advisors Inc. now owns 1,961,483 shares of the technology company’s stock valued at $84,991,000 after buying an additional 805,452 shares during the last quarter. GW&K Investment Management LLC raised its stake in Rapid7 by 54.0% during the first quarter. GW&K Investment Management LLC now owns 1,248,570 shares of the technology company’s stock valued at $54,100,000 after buying an additional 437,621 shares during the last quarter. Wellington Management Group LLP raised its stake in Rapid7 by 17.8% during the first quarter. Wellington Management Group LLP now owns 2,651,097 shares of the technology company’s stock valued at $114,872,000 after buying an additional 400,001 shares during the last quarter. Norges Bank purchased a new position in Rapid7 during the fourth quarter valued at $19,986,000. Finally, Frontier Capital Management Co. LLC purchased a new position in Rapid7 during the first quarter valued at $12,960,000. Institutional investors own 91.69% of the company’s stock.
In related news, insider Lee David Weiner sold 11,205 shares of Rapid7 stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $46.32, for a total value of $519,015.60. Following the completion of the sale, the insider now owns 160,369 shares of the company’s stock, valued at $7,428,292.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 11,580 shares of company stock valued at $537,499 in the last ninety days. 4.60% of the stock is currently owned by corporate insiders.
Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.09) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.09). Rapid7 had a negative return on equity of 55.85% and a negative net margin of 18.70%. The company had revenue of $94.34 million during the quarter, compared to analyst estimates of $93.82 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. Rapid7’s revenue was up 28.9% compared to the same quarter last year. On average, research analysts predict that Rapid7 Inc will post -1.29 EPS for the current year.
A number of research analysts have issued reports on RPD shares. Robert W. Baird reiterated a “buy” rating on shares of Rapid7 in a research note on Friday, May 8th. BidaskClub upgraded Rapid7 from a “sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Mizuho lifted their price objective on Rapid7 from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Cowen decreased their price target on Rapid7 from $70.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. Finally, Zacks Investment Research upgraded Rapid7 from a “sell” rating to a “hold” rating in a research note on Wednesday, July 8th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $60.77.
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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