Dendur Capital LP Makes New Investment in Rapid7, Inc. (NASDAQ:RPD)

Dendur Capital LP acquired a new stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 477,000 shares of the technology company's stock, valued at approximately $19,190,000. Rapid7 accounts for about 2.0% of Dendur Capital LP's investment portfolio, making the stock its 14th largest position. Dendur Capital LP owned approximately 0.75% of Rapid7 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in Rapid7 by 30.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock worth $60,000 after buying an additional 347 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Rapid7 by 0.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company's stock worth $2,782,000 after acquiring an additional 446 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock valued at $46,000 after purchasing an additional 455 shares during the last quarter. Ostrum Asset Management grew its stake in Rapid7 by 45.3% during the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock valued at $100,000 after purchasing an additional 772 shares in the last quarter. Finally, KBC Group NV increased its holdings in Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company's stock worth $108,000 after purchasing an additional 867 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Rapid7 Stock Performance

Shares of RPD opened at $22.91 on Wednesday. Rapid7, Inc. has a one year low of $21.61 and a one year high of $46.96. The stock's fifty day moving average is $27.58 and its 200-day moving average is $35.73. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 58.74 and a beta of 0.99.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly 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%. Analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Mizuho set a $30.00 price target on shares of Rapid7 in a research report on Wednesday, April 16th. Stifel Nicolaus cut their target price on shares of Rapid7 from $42.00 to $38.00 and set a "hold" rating on the stock in a research note on Thursday, February 13th. Barclays decreased their price target on Rapid7 from $35.00 to $26.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Jefferies Financial Group reduced their target price on Rapid7 from $45.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Rapid7 in a report on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $37.32.

Insider Activity

In related news, insider Christina Luconi sold 12,551 shares of the firm'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 transaction of $290,179.12. Following the completion of the sale, the insider now directly owns 58,165 shares in the company, valued at approximately $1,344,774.80. This trade represents a 17.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by insiders.

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.

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