1620 Investment Advisors Inc. Has $111,000 Stock Holdings in Rapid7, Inc. (NASDAQ:RPD)

1620 Investment Advisors Inc. raised its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 14.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,783 shares of the technology company’s stock after purchasing an additional 352 shares during the period. 1620 Investment Advisors Inc.’s holdings in Rapid7 were worth $111,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RPD. International Assets Investment Management LLC increased its stake in shares of Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after purchasing an additional 661 shares during the last quarter. Quest Partners LLC acquired a new stake in Rapid7 in the second quarter valued at about $35,000. Fidelis Capital Partners LLC bought a new position in Rapid7 in the first quarter valued at about $36,000. Summit Securities Group LLC acquired a new position in Rapid7 during the second quarter worth about $43,000. Finally, Financial Connections Group Inc. bought a new position in shares of Rapid7 in the second quarter worth about $72,000. 95.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RPD shares. Truist Financial cut their target price on shares of Rapid7 from $45.00 to $40.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. UBS Group decreased their price objective on shares of Rapid7 from $65.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Piper Sandler lowered their target price on Rapid7 from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Scotiabank dropped their price objective on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Finally, Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and cut their target price for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Rapid7 currently has a consensus rating of “Hold” and a consensus price target of $46.06.

Insider Buying and Selling at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the sale, the director now owns 17,460 shares of the company’s stock, valued at $698,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.60% of the stock is owned by corporate insiders.

Rapid7 Stock Performance

Shares of NASDAQ:RPD opened at $41.30 on Thursday. The company has a market capitalization of $2.57 billion, a P/E ratio of -20.15 and a beta of 0.97. The company’s 50-day moving average is $37.56 and its 200 day moving average is $38.90. Rapid7, Inc. has a fifty-two week low of $32.94 and a fifty-two week high of $61.88.

Rapid7 (NASDAQ:RPD) last released its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The firm had revenue of $207.99 million for the quarter, compared to analysts’ expectations of $204.04 million. During the same period in the previous year, the company earned ($0.33) earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, research analysts predict that Rapid7, Inc. will post 0.8 earnings per share 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.