Itau Unibanco Holding S.A. Takes Position in Rapid7, Inc. (NASDAQ:RPD)

Itau Unibanco Holding S.A. purchased a new position in shares of Rapid7, Inc. (NASDAQ:RPD) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 5,500 shares of the technology company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after acquiring an additional 455 shares in the last quarter. Pacer Advisors Inc. lifted its position in Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after purchasing an additional 347 shares during the period. Ostrum Asset Management boosted its holdings in Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock valued at $100,000 after purchasing an additional 772 shares in the last quarter. KBC Group NV raised its stake in shares of Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after buying an additional 867 shares in the last quarter. Finally, One68 Global Capital LLC purchased a new position in shares of Rapid7 during the 4th quarter worth approximately $201,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Rapid7 Price Performance

Rapid7 stock opened at $23.41 on Friday. The stock has a market capitalization of $1.50 billion, a P/E ratio of 60.03 and a beta of 0.99. Rapid7, Inc. has a 12-month low of $21.61 and a 12-month high of $46.84. The firm’s 50-day moving average is $26.22 and its two-hundred day moving average is $34.99.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. As a group, analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current year.

Insider Activity at Rapid7

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of Rapid7 stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the sale, the insider now owns 58,165 shares in the company, valued at $1,344,774.80. The trade was a 17.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

RPD has been the topic of a number of recent analyst reports. Stephens initiated coverage on Rapid7 in a report on Tuesday, April 1st. They set an “equal weight” rating and a $33.00 price objective on the stock. Morgan Stanley cut their price target on shares of Rapid7 from $33.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a report on Thursday, February 13th. Jefferies Financial Group lowered their target price on shares of Rapid7 from $45.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, Stifel Nicolaus decreased their price target on Rapid7 from $42.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Rapid7 currently has a consensus rating of “Hold” and a consensus target price of $37.32.

About Rapid7

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.