CenterBook Partners LP Acquires Shares of 18,364 Rapid7, Inc. (NASDAQ:RPD)

CenterBook Partners LP purchased a new stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,364 shares of the technology company's stock, valued at approximately $739,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bank of Nova Scotia increased its holdings in shares of Rapid7 by 8.0% during the 4th quarter. Bank of Nova Scotia now owns 129,150 shares of the technology company's stock worth $5,196,000 after purchasing an additional 9,570 shares during the period. Legal & General Group Plc increased its stake in Rapid7 by 0.9% during the fourth quarter. Legal & General Group Plc now owns 707,556 shares of the technology company's stock valued at $28,465,000 after acquiring an additional 6,269 shares during the period. Invesco Ltd. raised its holdings in Rapid7 by 5.4% in the 4th quarter. Invesco Ltd. now owns 36,487 shares of the technology company's stock valued at $1,468,000 after acquiring an additional 1,860 shares in the last quarter. Integrated Quantitative Investments LLC bought a new stake in shares of Rapid7 in the 4th quarter worth approximately $939,000. Finally, Headlands Technologies LLC increased its position in shares of Rapid7 by 153.6% during the fourth quarter. Headlands Technologies LLC now owns 12,482 shares of the technology company's stock valued at $502,000 after purchasing an additional 7,561 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RPD. DA Davidson reduced their target price on Rapid7 from $35.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. 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. Raymond James cut their price target on shares of Rapid7 from $55.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Stephens started coverage on Rapid7 in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $33.00 price objective on the stock. Finally, UBS Group cut their target price on Rapid7 from $52.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $37.32.

Rapid7 Price Performance

Shares of RPD stock traded down $0.34 on Thursday, hitting $22.49. 282,707 shares of the company's stock were exchanged, compared to its average volume of 870,808. Rapid7, Inc. has a 12 month low of $22.08 and a 12 month high of $46.96. The company has a 50 day moving average of $28.74 and a 200 day moving average of $36.21. The stock has a market cap of $1.44 billion, a P/E ratio of 57.62 and a beta of 0.99.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly 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 negative return on equity of 130.41% and a net margin of 3.46%. Sell-side analysts predict that Rapid7, Inc. will post 0.35 EPS for the current fiscal 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 transaction 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christina Luconi sold 12,551 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the sale, the insider now 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 disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

Rapid7 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.