Rapid7 Inc (NASDAQ:RPD) Shares Acquired by Raymond James & Associates

Raymond James & Associates boosted its stake in shares of Rapid7 Inc (NASDAQ:RPD) by 11.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 357,956 shares of the technology company’s stock after acquiring an additional 37,088 shares during the quarter. Raymond James & Associates’ holdings in Rapid7 were worth $18,263,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Red Spruce Capital LLC boosted its stake in shares of Rapid7 by 1.6% during the 2nd quarter. Red Spruce Capital LLC now owns 22,253 shares of the technology company’s stock worth $1,135,000 after acquiring an additional 345 shares in the last quarter. Acorn Financial Advisory Services Inc. ADV boosted its position in Rapid7 by 5.6% during the first quarter. Acorn Financial Advisory Services Inc. ADV now owns 9,323 shares of the technology company’s stock worth $404,000 after purchasing an additional 491 shares in the last quarter. Private Capital Group LLC grew its holdings in Rapid7 by 72.2% in the first quarter. Private Capital Group LLC now owns 1,245 shares of the technology company’s stock valued at $54,000 after purchasing an additional 522 shares during the period. Fifth Third Bancorp grew its holdings in Rapid7 by 9.6% in the first quarter. Fifth Third Bancorp now owns 6,610 shares of the technology company’s stock valued at $286,000 after purchasing an additional 580 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Rapid7 in the first quarter valued at approximately $26,000. Institutional investors own 91.69% of the company’s stock.

In other news, insider Lee David Weiner sold 11,205 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were 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 approximately $7,428,292.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 11,580 shares of company stock valued at $537,499. 4.60% of the stock is owned by company insiders.

Several brokerages recently commented on RPD. Mizuho boosted their price target on shares of Rapid7 from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, May 8th. BidaskClub upgraded shares of Rapid7 from a “sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Royal Bank of Canada restated a “buy” rating and set a $65.00 price target on shares of Rapid7 in a research report on Sunday, May 10th. Monness Crespi & Hardt lowered their price objective on Rapid7 from $72.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Finally, Cowen reduced their target price on Rapid7 from $70.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $60.77.

NASDAQ:RPD opened at $59.57 on Friday. Rapid7 Inc has a one year low of $31.34 and a one year high of $64.48. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 3.40. The stock has a 50 day moving average price of $52.71 and a 200 day moving average price of $49.92.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). Rapid7 had a negative return on equity of 55.85% and a negative net margin of 18.70%. The business had revenue of $94.34 million during the quarter, compared to the consensus estimate of $93.82 million. During the same period last year, the company earned $0.02 EPS. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. As a group, equities analysts forecast that Rapid7 Inc will post -1.29 earnings per share for the current fiscal year.

Rapid7 Profile

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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Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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