Marshall Wace LLP Has $2.96 Million Stake in Rapid7, Inc. (NASDAQ:RPD)

Marshall Wace LLP raised its holdings in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 378.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,354 shares of the technology company's stock after purchasing an additional 54,054 shares during the quarter. Marshall Wace LLP owned 0.11% of Rapid7 worth $2,955,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in RPD. Wasatch Advisors LP raised its stake in Rapid7 by 12.8% during the fourth quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company's stock valued at $80,514,000 after buying an additional 160,531 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Rapid7 by 46.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company's stock worth $61,512,000 after purchasing an additional 397,968 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Rapid7 by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company's stock valued at $24,691,000 after purchasing an additional 18,907 shares during the last quarter. Cannae Holdings Inc. acquired a new stake in shares of Rapid7 during the second quarter worth $15,130,000. Finally, Thematics Asset Management lifted its position in shares of Rapid7 by 7.7% in the 4th quarter. Thematics Asset Management now owns 349,000 shares of the technology company's stock worth $19,928,000 after buying an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Rapid7 Stock Up 4.4 %

Shares of NASDAQ:RPD traded up $1.64 during trading on Friday, reaching $39.25. 291,743 shares of the company traded hands, compared to its average volume of 864,971. The firm has a fifty day simple moving average of $36.55 and a 200 day simple moving average of $40.25. Rapid7, Inc. has a 1-year low of $32.94 and a 1-year high of $61.88. The firm has a market cap of $2.46 billion, a P/E ratio of -18.35 and a beta of 0.96.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The business had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. During the same period in the previous year, the company earned ($0.33) EPS. The firm's revenue was up 9.2% on a year-over-year basis. As a group, research analysts anticipate that Rapid7, Inc. will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Canaccord Genuity Group raised Rapid7 from a "hold" rating to a "buy" rating and cut their price target for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Morgan Stanley reissued an "equal weight" rating and set a $46.00 price target on shares of Rapid7 in a report on Wednesday, July 10th. Scotiabank dropped their price objective on shares of Rapid7 from $45.00 to $41.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC reissued a "hold" rating on shares of Rapid7 in a research note on Wednesday, August 7th. Finally, Robert W. Baird cut shares of Rapid7 from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $56.00 to $45.00 in a research report on Thursday, August 1st. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $46.13.

Insider Activity at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of the company's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the sale, the director now directly owns 17,460 shares of the company's stock, valued at approximately $698,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is owned by company 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.