Healthcare of Ontario Pension Plan Trust Fund Acquires 45,700 Shares of Rapid7, Inc. (NASDAQ:RPD)

Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 97.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,700 shares of the technology company's stock after buying an additional 45,700 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.15% of Rapid7 worth $4,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Comerica Bank raised its holdings in Rapid7 by 1.1% during the first quarter. Comerica Bank now owns 25,356 shares of the technology company's stock valued at $1,243,000 after buying an additional 281 shares in the last quarter. Virtu Financial LLC lifted its holdings in Rapid7 by 7.1% in the 1st quarter. Virtu Financial LLC now owns 5,198 shares of the technology company's stock worth $255,000 after purchasing an additional 346 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Rapid7 by 10.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company's stock valued at $185,000 after purchasing an additional 400 shares during the last quarter. Arizona State Retirement System raised its position in shares of Rapid7 by 2.8% in the second quarter. Arizona State Retirement System now owns 17,352 shares of the technology company's stock valued at $750,000 after purchasing an additional 465 shares during the period. Finally, 1620 Investment Advisors Inc. boosted its holdings in shares of Rapid7 by 30.3% during the 2nd quarter. 1620 Investment Advisors Inc. now owns 2,431 shares of the technology company's stock worth $105,000 after buying an additional 565 shares during the period. Institutional investors own 95.66% of the company's stock.

Rapid7 Price Performance

Shares of NASDAQ:RPD traded up $1.55 during trading on Friday, reaching $39.16. The stock had a trading volume of 476,172 shares, compared to its average volume of 722,081. The stock has a market capitalization of $2.46 billion, a PE ratio of -19.10 and a beta of 0.97. Rapid7, Inc. has a 52 week low of $32.94 and a 52 week high of $61.88. The business's 50-day moving average price is $36.54 and its 200 day moving average price is $40.02.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RPD shares. Robert W. Baird cut shares of Rapid7 from an "outperform" rating to a "neutral" rating and decreased their price target for the company from $56.00 to $45.00 in a report on Thursday, August 1st. Canaccord Genuity Group raised Rapid7 from a "hold" rating to a "buy" rating and lowered their target price for the company from $52.00 to $43.00 in a report on Wednesday, August 7th. Royal Bank of Canada lowered Rapid7 from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $50.00 to $40.00 in a report on Friday, September 20th. Piper Sandler lowered their price objective on shares of Rapid7 from $45.00 to $42.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 7th. Finally, Canaccord Genuity Group upgraded shares of Rapid7 from a "hold" rating to a "buy" rating and cut their target price for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Rapid7 presently has an average rating of "Hold" and a consensus price target of $46.13.

Insider Transactions at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the company's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the transaction, the director now directly owns 17,460 shares in the company, valued at approximately $698,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

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.