Los Angeles Capital Management LLC Acquires 3,811 Shares of Rapid7, Inc. (NASDAQ:RPD)

Los Angeles Capital Management LLC grew its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 17.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,292 shares of the technology company’s stock after purchasing an additional 3,811 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Rapid7 were worth $1,501,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of RPD. Duality Advisers LP acquired a new position in Rapid7 in the 4th quarter valued at $235,000. Tudor Investment Corp Et Al lifted its position in shares of Rapid7 by 46.5% during the 3rd quarter. Tudor Investment Corp Et Al now owns 145,102 shares of the technology company’s stock worth $6,643,000 after purchasing an additional 46,053 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Rapid7 by 34.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 42,448 shares of the technology company’s stock valued at $2,424,000 after purchasing an additional 10,798 shares during the period. Canada Pension Plan Investment Board grew its holdings in Rapid7 by 47.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 68,300 shares of the technology company’s stock valued at $3,127,000 after buying an additional 22,100 shares during the last quarter. Finally, Raymond James & Associates increased its position in Rapid7 by 41.5% in the 3rd quarter. Raymond James & Associates now owns 100,806 shares of the technology company’s stock worth $4,615,000 after buying an additional 29,543 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Stock Down 0.9 %

Shares of RPD stock opened at $45.80 on Wednesday. The company has a market capitalization of $2.85 billion, a P/E ratio of -18.25 and a beta of 1.01. Rapid7, Inc. has a 12-month low of $39.49 and a 12-month high of $61.88. The firm has a 50-day moving average price of $49.41 and a 200 day moving average price of $52.81.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.13 by $0.27. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. The business had revenue of $205.27 million for the quarter, compared to the consensus estimate of $201.52 million. As a group, research analysts expect that Rapid7, Inc. will post 0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

RPD has been the topic of several research analyst reports. UBS Group upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $53.00 to $70.00 in a research note on Monday, January 29th. Barclays upped their price objective on shares of Rapid7 from $58.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Scotiabank began coverage on Rapid7 in a research report on Friday, April 26th. They set a “sector perform” rating and a $46.00 target price on the stock. StockNews.com cut Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Citigroup raised Rapid7 from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $54.00 to $65.00 in a report on Tuesday, January 9th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.56.

Insiders Place Their Bets

In related news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total value of $1,683,751.89. Following the completion of the sale, the chief operating officer now directly owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the transaction, the chief operating officer now owns 236,841 shares in the company, valued at $11,541,261.93. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

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.