EFG Asset Management North America Corp. Grows Stock Holdings in Rapid7, Inc. (NASDAQ:RPD)

EFG Asset Management North America Corp. boosted its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 112.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,383 shares of the technology company’s stock after purchasing an additional 30,897 shares during the period. EFG Asset Management North America Corp. owned about 0.09% of Rapid7 worth $2,350,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Rapid7 by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock valued at $346,721,000 after purchasing an additional 60,095 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Rapid7 by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock worth $58,330,000 after buying an additional 15,287 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Rapid7 by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,006 shares of the technology company’s stock valued at $20,920,000 after buying an additional 8,918 shares during the period. Thematics Asset Management increased its holdings in Rapid7 by 33.0% during the third quarter. Thematics Asset Management now owns 399,000 shares of the technology company’s stock valued at $15,916,000 after buying an additional 99,000 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Rapid7 in the fourth quarter worth approximately $12,050,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling

In related news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the sale, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a research report on Thursday, February 13th. DA Davidson lowered their price objective on Rapid7 from $35.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday. Robert W. Baird reduced their target price on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Scotiabank lowered their price target on shares of Rapid7 from $42.00 to $38.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Finally, Morgan Stanley assumed coverage on shares of Rapid7 in a research report on Tuesday, March 18th. They issued an “equal weight” rating and a $33.00 price target for the company. Fifteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $39.94.

Rapid7 Stock Performance

RPD stock opened at $29.48 on Wednesday. The firm has a fifty day moving average price of $33.76 and a 200 day moving average price of $37.49. Rapid7, Inc. has a fifty-two week low of $26.77 and a fifty-two week high of $50.55. The firm has a market cap of $1.89 billion, a PE ratio of 75.59 and a beta of 0.92.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 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%. On average, equities analysts predict that Rapid7, Inc. will post 0.35 EPS for the current 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.