Diametric Capital LP Purchases New Position in Rapid7, Inc. (NASDAQ:RPD)

Diametric Capital LP purchased a new stake in Rapid7, Inc. (NASDAQ:RPD) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,097 shares of the technology company’s stock, valued at approximately $286,000.

Several other large investors have also recently added to or reduced their stakes in RPD. Skandinaviska Enskilda Banken AB publ grew its position in Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after acquiring an additional 455 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after purchasing an additional 347 shares in the last quarter. KBC Group NV boosted its stake in Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after purchasing an additional 867 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of Rapid7 during the fourth quarter worth $233,000. Finally, Versor Investments LP acquired a new stake in shares of Rapid7 in the fourth quarter valued at $266,000. 95.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RPD shares. Stifel Nicolaus reduced their target price 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. Jefferies Financial Group reduced their price objective on Rapid7 from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Monday. Barclays decreased their price objective on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Stephens initiated coverage on Rapid7 in a research report on Tuesday. They set an “equal weight” rating and a $33.00 target price for the company. Finally, UBS Group decreased their price target on Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $39.05.

Rapid7 Stock Performance

Shares of RPD stock opened at $26.78 on Wednesday. The company has a 50-day simple moving average of $32.60 and a 200 day simple moving average of $37.27. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 68.67 and a beta of 0.92. Rapid7, Inc. has a 52 week low of $25.98 and a 52 week high of $50.55.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share (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%. Sell-side analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current year.

Insider Activity at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of the 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 transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is owned by insiders.

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.