Birnam Oak Advisors LP acquired a new position in Rapid7, Inc. (NASDAQ:RPD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 110,000 shares of the technology company's stock, valued at approximately $4,425,000. Rapid7 makes up 2.1% of Birnam Oak Advisors LP's holdings, making the stock its 13th largest holding. Birnam Oak Advisors LP owned approximately 0.17% of Rapid7 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ increased its position in shares of Rapid7 by 68.8% in the fourth 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 in the last quarter. Pacer Advisors Inc. raised its stake in Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock valued at $60,000 after purchasing an additional 347 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of Rapid7 in the third quarter valued at $69,000. KBC Group NV boosted its position in shares of 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 buying an additional 867 shares during the period. Finally, FORA Capital LLC acquired a new stake in shares of Rapid7 in the third quarter worth $209,000. Institutional investors and hedge funds own 95.66% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. Jefferies Financial Group reduced their price objective on Rapid7 from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Needham & Company LLC reissued a "hold" rating on shares of Rapid7 in a research report on Thursday, February 13th. Citigroup dropped their price objective on shares of Rapid7 from $46.00 to $44.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Raymond James cut their target price on shares of Rapid7 from $55.00 to $45.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Finally, Morgan Stanley initiated coverage on shares of Rapid7 in a report on Tuesday. They set an "equal weight" rating and a $33.00 price target on the stock. Fifteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $40.50.
Check Out Our Latest Analysis on Rapid7
Rapid7 Stock Down 0.2 %
Rapid7 stock traded down $0.06 during trading hours on Friday, hitting $28.29. The stock had a trading volume of 2,233,037 shares, compared to its average volume of 831,952. Rapid7, Inc. has a fifty-two week low of $26.77 and a fifty-two week high of $51.89. The company has a market cap of $1.81 billion, a PE ratio of 72.54 and a beta of 0.92. The company has a 50-day moving average of $34.34 and a two-hundred day moving average of $37.63.
Rapid7 (NASDAQ:RPD - Get Free Report) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. As a group, analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.
Insiders Place Their Bets
In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction on 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 completion of 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 trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.60% of the company's stock.
Rapid7 Company Profile
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Free Report)
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.
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