Charles Schwab Investment Management Inc. Acquires 8,918 Shares of Rapid7, Inc. (NASDAQ:RPD)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 520,006 shares of the technology company's stock after acquiring an additional 8,918 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.82% of Rapid7 worth $20,920,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. boosted its position in Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock worth $60,000 after acquiring an additional 347 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Rapid7 by 0.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company's stock valued at $2,782,000 after buying an additional 446 shares during the last quarter. KBC Group NV lifted its holdings in shares of Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company's stock valued at $108,000 after buying an additional 867 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Rapid7 by 3.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,078 shares of the technology company's stock valued at $1,280,000 after buying an additional 965 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rapid7 by 17.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,900 shares of the technology company's stock valued at $358,000 after buying an additional 1,335 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Scotiabank reduced their price target on Rapid7 from $42.00 to $38.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price target on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Robert W. Baird reduced their price target on Rapid7 from $43.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. StockNews.com upgraded Rapid7 from a "hold" rating to a "buy" rating in a report on Friday, February 21st. Finally, Raymond James reduced their price target on Rapid7 from $55.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Rapid7 currently has a consensus rating of "Hold" and an average target price of $40.50.

Insider Activity

In related news, CEO Corey E. Thomas sold 100,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 431,469 shares of the company's stock, valued at $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Rapid7 Stock Down 0.2 %

NASDAQ RPD traded down $0.06 during trading on Friday, hitting $28.29. The company's stock had a trading volume of 2,233,037 shares, compared to its average volume of 830,510. The firm has a 50 day moving average price of $34.13 and a 200 day moving average price of $37.57. The firm has a market cap of $1.81 billion, a P/E ratio of 72.54 and a beta of 0.92. Rapid7, Inc. has a 52 week low of $26.77 and a 52 week high of $50.55.

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

About Rapid7

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.