Maverick Capital Ltd. Makes New $1.68 Million Investment in Rapid7, Inc. (NASDAQ:RPD)

Maverick Capital Ltd. acquired a new stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 42,093 shares of the technology company's stock, valued at approximately $1,679,000. Maverick Capital Ltd. owned about 0.07% of Rapid7 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Algert Global LLC raised its holdings in Rapid7 by 158.6% in the second quarter. Algert Global LLC now owns 121,953 shares of the technology company's stock valued at $5,272,000 after acquiring an additional 74,793 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Rapid7 by 7,688.6% in the 2nd quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company's stock valued at $7,141,000 after purchasing an additional 163,075 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Rapid7 during the third quarter worth about $948,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Rapid7 by 36.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,951 shares of the technology company's stock worth $3,429,000 after purchasing an additional 22,734 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Rapid7 by 252.0% in the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company's stock worth $164,236,000 after purchasing an additional 2,719,791 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Jefferies Financial Group started coverage on Rapid7 in a research note on Wednesday, October 16th. They set a "buy" rating and a $50.00 price objective on the stock. Canaccord Genuity Group upgraded Rapid7 from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $52.00 to $43.00 in a research note on Wednesday, August 7th. Canaccord Genuity Group upgraded shares of Rapid7 from a "hold" rating to a "buy" rating and lowered their target price for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. UBS Group dropped their target price on shares of Rapid7 from $59.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Rapid7 in a report on Wednesday, August 7th. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Rapid7 has a consensus rating of "Hold" and an average price target of $44.59.

Rapid7 Trading Up 0.2 %

RPD traded up $0.07 on Friday, reaching $42.60. The company had a trading volume of 297,425 shares, compared to its average volume of 755,996. The company has a market capitalization of $2.69 billion, a P/E ratio of 67.62 and a beta of 0.96. The company has a fifty day moving average of $40.01 and a 200-day moving average of $38.56. Rapid7, Inc. has a one year low of $32.94 and a one year high of $61.88.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.14. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The business had revenue of $214.65 million during the quarter, compared to analysts' expectations of $210.04 million. During the same period last year, the firm posted $0.11 earnings per share. The business's revenue was up 8.0% on a year-over-year basis. Research analysts predict that Rapid7, Inc. will post 0.98 EPS for the current year.

Insider Transactions at Rapid7

In related 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 directly owns 17,460 shares in the company, valued at $698,400. The trade was a 17.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.60% of the company's stock.

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.