Rapid7, Inc. (NASDAQ:RPD) is 272 Capital LP's 4th Largest Position

272 Capital LP boosted its stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 33.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,287 shares of the technology company's stock after buying an additional 53,849 shares during the period. Rapid7 accounts for approximately 4.4% of 272 Capital LP's investment portfolio, making the stock its 4th largest holding. 272 Capital LP owned 0.34% of Rapid7 worth $8,588,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. grew its position in Rapid7 by 14.5% in the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company's stock worth $111,000 after buying an additional 352 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Rapid7 by 10.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company's stock worth $185,000 after purchasing an additional 400 shares during the last quarter. Arizona State Retirement System raised its position in Rapid7 by 2.8% during the second quarter. Arizona State Retirement System now owns 17,352 shares of the technology company's stock valued at $750,000 after acquiring an additional 465 shares in the last quarter. nVerses Capital LLC lifted its stake in shares of Rapid7 by 26.1% in the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the technology company's stock valued at $125,000 after purchasing an additional 600 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock worth $27,000 after acquiring an additional 661 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Rapid7 Trading Down 2.7 %

Shares of Rapid7 stock traded down $1.12 on Friday, hitting $39.69. 834,233 shares of the company traded hands, compared to its average volume of 836,965. The company has a market cap of $2.51 billion, a PE ratio of 64.35 and a beta of 0.95. The stock's 50 day moving average price is $40.89 and its 200-day moving average price is $38.80. Rapid7, Inc. has a 52 week low of $32.94 and a 52 week high of $61.88.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.52 by $0.14. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The firm had revenue of $214.65 million during the quarter, compared to analyst estimates of $210.04 million. During the same period in the previous year, the company posted $0.11 EPS. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, research analysts anticipate that Rapid7, Inc. will post 0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the firm'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 transaction, the director now directly owns 17,460 shares of the company's stock, valued at $698,400. This trade represents a 17.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on RPD shares. UBS Group cut their price target on Rapid7 from $59.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Royal Bank of Canada lowered Rapid7 from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from $50.00 to $40.00 in a research note on Friday, September 20th. Jefferies Financial Group assumed coverage on shares of Rapid7 in a research report on Wednesday, October 16th. They issued a "buy" rating and a $50.00 price target on the stock. JPMorgan Chase & Co. raised their target price on Rapid7 from $40.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Finally, Truist Financial decreased their price objective on Rapid7 from $40.00 to $38.00 and set a "hold" rating on the stock in a research report on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $44.59.

About Rapid7

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.