Brevan Howard Capital Management LP Takes Position in Rapid7, Inc. (NASDAQ:RPD)

Brevan Howard Capital Management LP acquired a new stake in shares of Rapid7, Inc. (NASDAQ:RPD) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 34,484 shares of the technology company’s stock, valued at approximately $1,387,000.

Other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in shares of Rapid7 by 100.8% in the fourth quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company’s stock worth $3,030,000 after buying an additional 37,708 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Rapid7 in the 4th quarter valued at about $539,000. Raymond James Financial Inc. purchased a new stake in shares of Rapid7 in the 4th quarter valued at about $12,050,000. Principal Financial Group Inc. boosted its position in shares of Rapid7 by 13.9% during the 4th quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company’s stock valued at $2,185,000 after acquiring an additional 6,645 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Rapid7 by 259.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock worth $11,625,000 after purchasing an additional 208,501 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling at Rapid7

In related news, insider Christina Luconi sold 12,551 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $23.12, for a total transaction of $290,179.12. Following the sale, the insider now directly owns 58,165 shares of the company’s stock, valued at $1,344,774.80. This trade represents a 17.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Stephens began coverage on shares of Rapid7 in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $33.00 target price for the company. Citigroup cut their target price on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Truist Financial reduced their price objective on Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Raymond James reduced their price objective on Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Robert W. Baird decreased their target price on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $37.32.

Rapid7 Trading Up 1.9 %

Shares of Rapid7 stock opened at $24.53 on Thursday. Rapid7, Inc. has a 12 month low of $21.61 and a 12 month high of $44.48. The business has a fifty day simple moving average of $25.76 and a two-hundred day simple moving average of $34.54. The firm has a market capitalization of $1.58 billion, a P/E ratio of 62.90 and a beta of 1.06.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data 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 net margin of 3.46% and a negative return on equity of 130.41%. Analysts predict that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Rapid7 Company Profile

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.