E. Ohman J or Asset Management AB Purchases 6,755 Shares of Rapid7, Inc. (NASDAQ:RPD)

E. Ohman J or Asset Management AB boosted its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 19.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,755 shares of the technology company’s stock after purchasing an additional 6,755 shares during the period. E. Ohman J or Asset Management AB owned about 0.07% of Rapid7 worth $1,107,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RPD. Versant Capital Management Inc grew its stake in Rapid7 by 5,311.1% in the 1st quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company’s stock worth $39,000 after acquiring an additional 1,434 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Rapid7 by 68.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after acquiring an additional 455 shares in the last quarter. Ostrum Asset Management grew its stake in Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after acquiring an additional 772 shares in the last quarter. KBC Group NV grew its stake in Rapid7 by 47.7% in the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after acquiring an additional 867 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Rapid7 by 2,069.2% in the 1st quarter. GAMMA Investing LLC now owns 5,488 shares of the technology company’s stock worth $145,000 after acquiring an additional 5,235 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Rapid7 Stock Up 2.4%

Rapid7 stock opened at $23.72 on Friday. Rapid7, Inc. has a 52 week low of $21.61 and a 52 week high of $44.48. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 60.82 and a beta of 1.06. The stock has a 50-day moving average price of $23.69 and a 200 day moving average price of $32.03.

Rapid7 (NASDAQ:RPD) last released its earnings results on Monday, May 12th. The technology company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. The firm had revenue of $210.25 million during the quarter, compared to the consensus estimate of $208.25 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. Research analysts anticipate that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RPD shares. Jefferies Financial Group dropped their target price on shares of Rapid7 from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Canaccord Genuity Group dropped their target price on shares of Rapid7 from $43.00 to $39.00 and set a “hold” rating on the stock in a research note on Wednesday, May 14th. UBS Group dropped their target price on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Scotiabank dropped their target price on shares of Rapid7 from $38.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Tuesday, May 13th. Finally, Robert W. Baird increased their price objective on shares of Rapid7 from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $33.32.

Insider Buying and Selling at Rapid7

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 58,165 shares of the company’s stock, valued at approximately $1,344,774.80. The trade was a 17.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by corporate insiders.

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.