Rapid7, Inc. (NASDAQ:RPD) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its position in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 31.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,300 shares of the technology company's stock after acquiring an additional 21,500 shares during the quarter. Canada Pension Plan Investment Board owned about 0.14% of Rapid7 worth $3,593,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Stifel Financial Corp purchased a new stake in Rapid7 during the 3rd quarter valued at about $1,006,000. 272 Capital LP grew its position in shares of Rapid7 by 33.4% in the third quarter. 272 Capital LP now owns 215,287 shares of the technology company's stock valued at $8,588,000 after purchasing an additional 53,849 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Rapid7 by 9.7% in the third quarter. Principal Financial Group Inc. now owns 47,661 shares of the technology company's stock valued at $1,901,000 after purchasing an additional 4,214 shares during the last quarter. Nordea Investment Management AB lifted its position in 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 buying an additional 37,708 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in Rapid7 by 8.6% during the fourth quarter. Diversified Trust Co now owns 21,534 shares of the technology company's stock worth $866,000 after buying an additional 1,708 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Robert W. Baird reduced their price target on Rapid7 from $43.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Mizuho set a $30.00 target price on shares of Rapid7 in a research note on Wednesday, April 16th. Stifel Nicolaus dropped their price target on shares of Rapid7 from $42.00 to $38.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. Raymond James reduced their price target on shares of Rapid7 from $55.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Rapid7 in a research report on Thursday, February 13th. Fifteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Rapid7 currently has a consensus rating of "Hold" and an average price target of $37.32.

Insider Activity

In other news, insider Christina Luconi sold 12,551 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $23.12, for a total transaction of $290,179.12. Following the completion of the transaction, the insider now directly owns 58,165 shares of the company's stock, valued at approximately $1,344,774.80. This represents a 17.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.60% of the company's stock.

Rapid7 Trading Up 1.2 %

RPD traded up $0.29 on Friday, hitting $24.07. 579,380 shares of the company were exchanged, compared to its average volume of 885,796. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 61.72 and a beta of 0.99. The firm has a 50-day moving average price of $26.90 and a two-hundred day moving average price of $35.44. Rapid7, Inc. has a twelve month low of $21.61 and a twelve month high of $46.84.

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

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.