Rapid7, Inc. (NASDAQ:RPD) Stock Holdings Increased by First Trust Advisors LP

First Trust Advisors LP raised its holdings in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,255,731 shares of the technology company's stock after buying an additional 79,836 shares during the period. First Trust Advisors LP owned about 1.99% of Rapid7 worth $50,518,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock worth $46,000 after buying an additional 455 shares during the period. Pacer Advisors Inc. grew 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 purchasing an additional 347 shares in the last quarter. KBC Group NV raised its stake in 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 purchasing an additional 867 shares during the period. Cibc World Markets Corp acquired a new stake in Rapid7 during the 4th quarter valued at $233,000. Finally, Versor Investments LP purchased a new stake in shares of Rapid7 in the fourth quarter valued at $266,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Rapid7 Trading Up 4.6 %

Shares of NASDAQ RPD opened at $22.91 on Wednesday. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 58.74 and a beta of 0.99. Rapid7, Inc. has a one year low of $21.61 and a one year high of $46.96. The business has a fifty day simple moving average of $27.58 and a 200 day simple moving average of $35.73.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing analysts' consensus estimates 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, research analysts anticipate that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

RPD has been the topic of a number of research analyst reports. Truist Financial lowered 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Rapid7 in a research note on Thursday, February 13th. Robert W. Baird lowered their target price on Rapid7 from $43.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group decreased their price objective 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. Finally, Stifel Nicolaus reduced their price target on Rapid7 from $42.00 to $38.00 and set a "hold" rating for the company in a research report on Thursday, February 13th. Fifteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $37.32.

Insider Activity

In other news, insider Christina Luconi sold 12,551 shares of the company'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 sale, the insider now owns 58,165 shares of the company's stock, valued at approximately $1,344,774.80. This represents a 17.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.

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