Rapid7, Inc. (NASDAQ:RPD) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 36.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,951 shares of the technology company's stock after purchasing an additional 22,734 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.14% of Rapid7 worth $3,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of RPD. International Assets Investment Management LLC raised its position in shares of Rapid7 by 3,888.2% in the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock valued at $27,000 after purchasing an additional 661 shares during the period. Quest Partners LLC bought a new stake in Rapid7 in the 2nd quarter worth $35,000. Summit Securities Group LLC purchased a new position in Rapid7 during the 2nd quarter valued at about $43,000. Financial Connections Group Inc. purchased a new stake in Rapid7 in the second quarter worth $72,000. Finally, Point72 Hong Kong Ltd increased its position in shares of Rapid7 by 315.0% during the second quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company's stock valued at $90,000 after buying an additional 1,575 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Trading Down 0.3 %

Shares of RPD stock traded down $0.12 during trading hours on Monday, reaching $42.74. 782,495 shares of the stock were exchanged, compared to its average volume of 844,797. Rapid7, Inc. has a 12-month low of $32.94 and a 12-month high of $61.88. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 67.84 and a beta of 0.96. The company's 50-day moving average price is $39.18 and its 200-day moving average price is $38.39.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on RPD. Royal Bank of Canada lowered shares of Rapid7 from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $50.00 to $40.00 in a research note on Friday, September 20th. Canaccord Genuity Group raised Rapid7 from a "hold" rating to a "buy" rating and cut their price objective for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. StockNews.com downgraded shares of Rapid7 from a "buy" rating to a "hold" rating in a research report on Tuesday, November 19th. Truist Financial cut their price objective on Rapid7 from $40.00 to $38.00 and set a "hold" rating for the company in a research note on Thursday, November 7th. Finally, UBS Group decreased their price target on Rapid7 from $59.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Fifteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $44.59.

Insiders Place Their Bets

In related news, Director Reeny Sondhi sold 3,663 shares of Rapid7 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 completion of the sale, the director now directly owns 17,460 shares in the company, valued at $698,400. This trade represents a 17.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.