Quinn Opportunity Partners LLC Purchases 24,000 Shares of Rapid7, Inc. (NASDAQ:RPD)

Quinn Opportunity Partners LLC boosted its stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 22.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,797 shares of the technology company's stock after buying an additional 24,000 shares during the quarter. Quinn Opportunity Partners LLC owned approximately 0.20% of Rapid7 worth $5,182,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew 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 purchasing an additional 37,708 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Rapid7 during the fourth quarter worth approximately $539,000. Raymond James Financial Inc. acquired a new position in shares of Rapid7 in the 4th quarter worth approximately $12,050,000. Stifel Financial Corp bought a new stake in Rapid7 during the 3rd quarter worth approximately $1,006,000. Finally, Principal Financial Group Inc. increased its holdings in Rapid7 by 13.9% during the 4th quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company's stock valued at $2,185,000 after purchasing an additional 6,645 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

Rapid7 Stock Down 1.7 %

Shares of RPD stock traded down $0.39 during trading hours on Wednesday, hitting $22.68. 302,655 shares of the company's stock traded hands, compared to its average volume of 871,800. Rapid7, Inc. has a 12 month low of $22.00 and a 12 month high of $46.96. The stock has a market cap of $1.45 billion, a PE ratio of 58.15 and a beta of 0.99. The stock's 50 day simple moving average is $29.05 and its 200 day simple moving average is $36.30.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) 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%. As a group, equities research analysts expect that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RPD. Needham & Company LLC reiterated a "hold" rating on shares of Rapid7 in a research report on Thursday, February 13th. Morgan Stanley began coverage on Rapid7 in a research note on Tuesday, March 18th. They issued an "equal weight" rating and a $33.00 target price for the company. UBS Group cut their target price on shares of Rapid7 from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Barclays cut their price target on Rapid7 from $35.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Monday. Finally, Jefferies Financial Group decreased their price target on shares of Rapid7 from $45.00 to $35.00 and set a "buy" rating for the company in a report on Monday, March 31st. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $38.58.

Insider Activity

In other news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the transaction, the chief executive officer now owns 431,469 shares of the company's stock, valued at $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christina Luconi sold 12,551 shares of the business's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the sale, the insider now directly owns 58,165 shares of the company's stock, valued at $1,344,774.80. The trade was a 17.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.