KLP Kapitalforvaltning AS Purchases Shares of 13,400 Rapid7, Inc. (NASDAQ:RPD)

KLP Kapitalforvaltning AS acquired a new position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,400 shares of the technology company's stock, valued at approximately $539,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in shares of Rapid7 by 100.8% during the fourth quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company's stock worth $3,030,000 after acquiring an additional 37,708 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Rapid7 in the fourth quarter worth about $12,050,000. Stifel Financial Corp bought a new stake in Rapid7 during the 3rd quarter worth about $1,006,000. Principal Financial Group Inc. lifted its position in Rapid7 by 13.9% during the 4th quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company's stock valued at $2,185,000 after purchasing an additional 6,645 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Rapid7 by 259.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company's stock valued at $11,625,000 after purchasing an additional 208,501 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Analyst Upgrades and Downgrades

RPD has been the subject of a number of recent research reports. DA Davidson dropped their price target on shares of Rapid7 from $35.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. JPMorgan Chase & Co. cut their price target on Rapid7 from $42.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Stifel Nicolaus decreased their price objective on Rapid7 from $42.00 to $38.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. Barclays cut their target price on Rapid7 from $43.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Finally, Truist Financial decreased their target price on Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company in a research 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $39.05.

Insider Buying and Selling

In related news, CEO Corey E. Thomas sold 100,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the sale, the chief executive officer now owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Rapid7 Price Performance

Shares of RPD traded down $0.33 during midday trading on Tuesday, hitting $22.94. The stock had a trading volume of 1,631,507 shares, compared to its average volume of 866,240. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 58.82 and a beta of 0.99. The company has a 50 day simple moving average of $30.84 and a two-hundred day simple moving average of $36.83. Rapid7, Inc. has a twelve month low of $22.08 and a twelve month high of $50.55.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its earnings results 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 net margin of 3.46% and a negative return on equity of 130.41%. Analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current fiscal 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.