Proficio Capital Partners LLC Invests $1.43 Million in Rapid7, Inc. (NASDAQ:RPD)

Proficio Capital Partners LLC purchased a new stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 35,523 shares of the technology company's stock, valued at approximately $1,429,000. Proficio Capital Partners LLC owned approximately 0.06% of Rapid7 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of RPD. Creative Planning purchased a new stake in shares of Rapid7 during the 3rd quarter valued at $253,000. International Assets Investment Management LLC raised its position in Rapid7 by 3,888.2% during the third 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 in the last quarter. Asset Management One Co. Ltd. lifted its stake in Rapid7 by 3.0% during the third quarter. Asset Management One Co. Ltd. now owns 125,678 shares of the technology company's stock worth $5,013,000 after purchasing an additional 3,634 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Rapid7 by 9.7% in the 3rd quarter. Principal Financial Group Inc. now owns 47,661 shares of the technology company's stock worth $1,901,000 after purchasing an additional 4,214 shares in the last quarter. Finally, Quest Partners LLC increased its position in shares of Rapid7 by 924.6% during the 3rd quarter. Quest Partners LLC now owns 8,320 shares of the technology company's stock valued at $332,000 after purchasing an additional 7,508 shares during the last quarter. Institutional investors own 95.66% of the company's stock.

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Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Barclays dropped their target price on Rapid7 from $43.00 to $35.00 and set an "equal weight" rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. cut their price objective on shares of Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Robert W. Baird decreased their target price on shares of Rapid7 from $43.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Truist Financial cut their price target on shares of Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, February 13th. Finally, Jefferies Financial Group decreased their price objective on Rapid7 from $50.00 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 and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $41.22.

Rapid7 Stock Performance

Shares of Rapid7 stock traded down $1.25 during trading on Monday, hitting $28.00. The company's stock had a trading volume of 1,366,426 shares, compared to its average volume of 780,752. Rapid7, Inc. has a 52 week low of $27.67 and a 52 week high of $55.01. The company has a market capitalization of $1.79 billion, a PE ratio of 71.79 and a beta of 0.92. The company has a fifty day simple moving average of $36.42 and a two-hundred day simple moving average of $38.23.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. As a group, analysts predict that Rapid7, Inc. will post 0.35 EPS for the current year.

Insider Transactions at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 431,469 shares of the company's stock, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company's stock.

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.