MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 133,967 Shares of Rapid7, Inc. (NASDAQ:RPD)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 17.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 919,434 shares of the technology company’s stock after purchasing an additional 133,967 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Rapid7 were worth $36,993,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ raised 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 purchasing an additional 455 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of 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 last quarter. Ostrum Asset Management raised its holdings in shares of Rapid7 by 45.3% in the fourth 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 during the last quarter. KBC Group NV raised its holdings in shares of Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after purchasing an additional 867 shares during the last quarter. Finally, One68 Global Capital LLC bought a new position in shares of Rapid7 in the fourth quarter valued at $201,000. 95.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Jefferies Financial Group decreased their target price on shares of Rapid7 from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Scotiabank decreased their target price on shares of Rapid7 from $38.00 to $29.00 and set a “sector perform” rating for the company in a research note on Tuesday. Truist Financial decreased their target price on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Morgan Stanley raised their target price on shares of Rapid7 from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Raymond James decreased their target price on shares of Rapid7 from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $33.53.

Insider Activity

In related news, insider Christina Luconi sold 12,551 shares of the business’s 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 transaction, the insider now owns 58,165 shares of the company’s stock, valued at $1,344,774.80. The trade was a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by company insiders.

Rapid7 Stock Performance

Shares of Rapid7 stock opened at $24.56 on Wednesday. The firm has a 50-day moving average of $25.52 and a 200-day moving average of $34.15. The stock has a market cap of $1.58 billion, a PE ratio of 62.97 and a beta of 1.06. Rapid7, Inc. has a 52-week low of $21.61 and a 52-week high of $44.48.

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

Rapid7 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.