Centiva Capital LP Makes New $566,000 Investment in Rapid7, Inc. (NASDAQ:RPD)

Centiva Capital LP purchased a new stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,181 shares of the technology company's stock, valued at approximately $566,000.

A number of other hedge funds also recently modified their holdings of the business. Point72 Asset Management L.P. increased its position in Rapid7 by 252.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company's stock valued at $164,236,000 after purchasing an additional 2,719,791 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Rapid7 by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 511,088 shares of the technology company's stock worth $20,387,000 after buying an additional 9,190 shares during the period. Fred Alger Management LLC raised its stake in Rapid7 by 0.3% during the second quarter. Fred Alger Management LLC now owns 494,509 shares of the technology company's stock worth $21,378,000 after buying an additional 1,297 shares during the last quarter. Thematics Asset Management lifted its holdings in Rapid7 by 33.0% in the third quarter. Thematics Asset Management now owns 399,000 shares of the technology company's stock valued at $15,916,000 after buying an additional 99,000 shares during the period. Finally, Cannae Holdings Inc. acquired a new position in Rapid7 in the second quarter valued at $15,130,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Insider Transactions at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction 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 SEC, which is available at this hyperlink. Company insiders own 2.60% of the company's stock.

Rapid7 Stock Up 0.1 %

NASDAQ RPD traded up $0.05 on Friday, reaching $43.48. The company had a trading volume of 699,390 shares, compared to its average volume of 744,936. The company's fifty day moving average is $40.69 and its 200 day moving average is $38.71. Rapid7, Inc. has a 52-week low of $32.94 and a 52-week high of $61.88. The stock has a market capitalization of $2.75 billion, a P/E ratio of 69.02 and a beta of 0.95.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.66 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 company had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. On average, research analysts expect that Rapid7, Inc. will post 0.98 EPS for the current year.

Analyst Upgrades and Downgrades

RPD has been the subject of several research analyst reports. UBS Group lowered their price objective on Rapid7 from $59.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. StockNews.com upgraded Rapid7 from a "hold" rating to a "buy" rating in a report on Friday. Truist Financial cut their price target on Rapid7 from $40.00 to $38.00 and set a "hold" rating on the stock in a report on Thursday, November 7th. Piper Sandler lowered 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 Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of Rapid7 from $40.00 to $42.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Rapid7 currently has a consensus rating of "Hold" and a consensus target price of $44.59.

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.