Nordea Investment Management AB Buys 37,708 Shares of Rapid7, Inc. (NASDAQ:RPD)

Nordea Investment Management AB raised its stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 100.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,109 shares of the technology company's stock after purchasing an additional 37,708 shares during the period. Nordea Investment Management AB owned 0.12% of Rapid7 worth $3,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Rhumbline Advisers increased its holdings in Rapid7 by 4.9% in the 2nd quarter. Rhumbline Advisers now owns 90,430 shares of the technology company's stock valued at $3,909,000 after buying an additional 4,221 shares during the period. Arizona State Retirement System increased its holdings in Rapid7 by 2.8% in the 2nd quarter. Arizona State Retirement System now owns 17,352 shares of the technology company's stock valued at $750,000 after buying an additional 465 shares during the period. Quest Partners LLC bought a new position in Rapid7 in the 2nd quarter valued at about $35,000. Cannae Holdings Inc. bought a new position in Rapid7 in the 2nd quarter valued at about $15,130,000. Finally, Hsbc Holdings PLC increased its holdings in Rapid7 by 227.2% in the 2nd quarter. Hsbc Holdings PLC now owns 34,580 shares of the technology company's stock valued at $1,518,000 after buying an additional 24,012 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Stock Performance

RPD stock traded down $0.10 on Friday, reaching $38.98. The company's stock had a trading volume of 492,197 shares, compared to its average volume of 507,016. The business has a fifty day simple moving average of $40.86 and a two-hundred day simple moving average of $39.19. Rapid7, Inc. has a 12-month low of $32.94 and a 12-month high of $61.88. The firm has a market cap of $2.46 billion, a PE ratio of 61.87 and a beta of 0.96.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.14. The company had revenue of $214.65 million during the quarter, compared to analyst estimates of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The firm's revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share. As a group, research analysts anticipate that Rapid7, Inc. will post 0.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RPD. UBS Group reduced their price target on shares of Rapid7 from $59.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada downgraded shares of Rapid7 from an "outperform" rating to a "sector perform" rating and cut their target price for the stock from $50.00 to $40.00 in a research report on Friday, September 20th. StockNews.com upgraded shares of Rapid7 from a "hold" rating to a "buy" rating in a research report on Friday, December 6th. Jefferies Financial Group assumed coverage on shares of Rapid7 in a research report on Wednesday, October 16th. They set a "buy" rating and a $50.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of Rapid7 from $40.00 to $42.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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.