Geode Capital Management LLC Acquires 15,287 Shares of Rapid7, Inc. (NASDAQ:RPD)

Geode Capital Management LLC increased its holdings in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,462,007 shares of the technology company's stock after purchasing an additional 15,287 shares during the period. Geode Capital Management LLC owned 2.31% of Rapid7 worth $58,330,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RPD. International Assets Investment Management LLC boosted its holdings in shares of Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock valued at $27,000 after purchasing an additional 661 shares during the last quarter. Quest Partners LLC purchased a new stake in Rapid7 during the 2nd quarter worth $35,000. Summit Securities Group LLC purchased a new position in Rapid7 in the second quarter valued at about $43,000. RPg Family Wealth Advisory LLC purchased a new position in Rapid7 in the third quarter valued at about $69,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Rapid7 during the second quarter worth about $72,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RPD. Piper Sandler decreased their price target on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. StockNews.com raised shares of Rapid7 from a "hold" rating to a "buy" rating in a research report on Friday, December 6th. Jefferies Financial Group initiated coverage on Rapid7 in a research report on Wednesday, October 16th. They set a "buy" rating and a $50.00 target price on the stock. DA Davidson increased their price target on Rapid7 from $35.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, UBS Group reduced their target price on Rapid7 from $59.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $44.59.

Rapid7 Price Performance

Shares of NASDAQ RPD traded up $0.17 during mid-day trading on Monday, hitting $39.53. The company had a trading volume of 614,032 shares, compared to its average volume of 844,372. 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 $2.50 billion, a P/E ratio of 62.75 and a beta of 0.95. The business's 50-day simple moving average is $40.89 and its 200-day simple moving average is $38.96.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The company's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $0.11 EPS. As a group, sell-side analysts predict that Rapid7, Inc. will post 0.98 EPS for the current year.

Insider Activity

In other news, Director Reeny Sondhi sold 3,663 shares of the business's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the sale, the director now owns 17,460 shares in the company, valued at $698,400. The trade was a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.60% of the company's stock.

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.