Graham Capital Management L.P. Purchases 1,813 Shares of Rapid7, Inc. (NASDAQ:RPD)

Graham Capital Management L.P. lifted its position in Rapid7, Inc. (NASDAQ:RPD) by 11.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,230 shares of the technology company’s stock after buying an additional 1,813 shares during the period. Graham Capital Management L.P.’s holdings in Rapid7 were worth $693,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Estuary Capital Management LP bought a new position in Rapid7 during the 4th quarter valued at about $20,714,000. Dendur Capital LP purchased a new position in shares of Rapid7 during the fourth quarter valued at approximately $19,190,000. Raymond James Financial Inc. bought a new position in Rapid7 during the fourth quarter valued at approximately $12,050,000. Marshall Wace LLP boosted its holdings in Rapid7 by 144.2% in the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock worth $19,137,000 after purchasing an additional 280,913 shares during the last quarter. Finally, 13D Management LLC purchased a new stake in Rapid7 in the fourth quarter worth approximately $5,455,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Activity

In other news, insider Christina Luconi sold 12,551 shares of the company’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 transaction of $290,179.12. Following the transaction, the insider now owns 58,165 shares of the company’s stock, valued at approximately $1,344,774.80. This represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

Rapid7 Stock Down 2.9%

Shares of NASDAQ:RPD opened at $23.84 on Thursday. The firm has a fifty day simple moving average of $25.41 and a two-hundred day simple moving average of $34.08. Rapid7, Inc. has a 52 week low of $21.61 and a 52 week high of $44.48. The stock has a market capitalization of $1.53 billion, a P/E ratio of 61.13 and a beta of 1.06.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RPD. Mizuho set a $30.00 price target on Rapid7 in a report on Wednesday, April 16th. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a report on Thursday, February 13th. Susquehanna dropped their target price on Rapid7 from $40.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Rapid7 from $36.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Canaccord Genuity Group dropped their price objective on shares of Rapid7 from $43.00 to $39.00 and set a “hold” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $33.32.

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.