Proficio Capital Partners LLC Invests $1.43 Million in Rapid7, Inc. (NASDAQ:RPD)

Proficio Capital Partners LLC acquired a new stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 35,523 shares of the technology company's stock, valued at approximately $1,429,000. Proficio Capital Partners LLC owned approximately 0.06% of Rapid7 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Nordea Investment Management AB raised its holdings in shares of Rapid7 by 100.8% during the 4th quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company's stock worth $3,030,000 after acquiring an additional 37,708 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Rapid7 by 36.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,951 shares of the technology company's stock valued at $3,429,000 after purchasing an additional 22,734 shares in the last quarter. Stifel Financial Corp bought a new position in Rapid7 during the third quarter valued at $1,006,000. Maverick Capital Ltd. purchased a new position in shares of Rapid7 in the 3rd quarter worth $1,679,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Rapid7 by 259.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company's stock worth $11,625,000 after buying an additional 208,501 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Rapid7 Trading Up 5.0 %

Shares of RPD traded up $1.41 during midday trading on Monday, hitting $29.70. 1,216,682 shares of the company's stock traded hands, compared to its average volume of 832,095. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 76.15 and a beta of 0.92. Rapid7, Inc. has a 1 year low of $26.77 and a 1 year high of $50.55. The firm's fifty day moving average is $34.13 and its 200-day moving average is $37.58.

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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 the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. On average, equities research analysts anticipate that Rapid7, Inc. will post 0.35 EPS for the current year.

Insiders Place Their Bets

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the transaction, the chief executive officer now owns 431,469 shares of the company's stock, valued at approximately $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RPD has been the subject of a number of analyst reports. Robert W. Baird lowered their price target on shares of Rapid7 from $43.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Stifel Nicolaus dropped their target price on Rapid7 from $42.00 to $38.00 and set a "hold" rating for the company in a report on Thursday, February 13th. Truist Financial cut their price objective on shares of Rapid7 from $38.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 13th. Citigroup decreased their price target on Rapid7 from $46.00 to $44.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Barclays decreased their price objective on shares of Rapid7 from $43.00 to $35.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $40.50.

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.