Quinn Opportunity Partners LLC Has $5.18 Million Position in Rapid7, Inc. (NASDAQ:RPD)

Quinn Opportunity Partners LLC raised its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 22.9% in the 4th quarter, HoldingsChannel reports. The firm owned 128,797 shares of the technology company’s stock after buying an additional 24,000 shares during the period. Quinn Opportunity Partners LLC’s holdings in Rapid7 were worth $5,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ raised its position 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 period. Pacer Advisors Inc. grew its stake in Rapid7 by 30.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after buying an additional 347 shares during the last quarter. KBC Group NV raised its holdings in Rapid7 by 47.7% in the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after acquiring an additional 867 shares during the period. Cibc World Markets Corp acquired a new stake in Rapid7 during the fourth quarter worth approximately $233,000. Finally, Versor Investments LP bought a new stake in shares of Rapid7 during the fourth quarter worth approximately $266,000. 95.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Morgan Stanley started coverage on Rapid7 in a research note on Tuesday, March 18th. They set an “equal weight” rating and a $33.00 target price on the stock. DA Davidson dropped their target price on Rapid7 from $35.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. Jefferies Financial Group reduced their target price on shares of Rapid7 from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Stifel Nicolaus lowered their price target on shares of Rapid7 from $42.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Finally, Barclays cut their price objective on shares of Rapid7 from $43.00 to $35.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rapid7 has a consensus rating of “Hold” and a consensus price target of $39.05.

Insider Activity at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the transaction, the chief executive officer now owns 431,469 shares in the company, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christina Luconi sold 12,551 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $23.12, for a total transaction of $290,179.12. Following the completion of the transaction, the insider now owns 58,165 shares of the company’s stock, valued at approximately $1,344,774.80. This trade represents a 17.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Rapid7 Trading Down 8.0 %

Shares of NASDAQ RPD opened at $22.77 on Friday. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 58.38 and a beta of 0.99. Rapid7, Inc. has a 12 month low of $22.08 and a 12 month high of $50.40. The stock has a 50-day moving average price of $29.97 and a two-hundred day moving average price of $36.58.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. On average, sell-side 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.