Raymond James Financial Inc. Takes $12.05 Million Position in Rapid7, Inc. (NASDAQ:RPD)

Raymond James Financial Inc. bought a new stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 299,524 shares of the technology company's stock, valued at approximately $12,050,000. Raymond James Financial Inc. owned 0.47% of Rapid7 at the end of the most recent reporting period.

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

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Rapid7 Price Performance

Shares of RPD traded down $0.06 during mid-day trading on Friday, reaching $28.29. The stock had a trading volume of 2,233,037 shares, compared to its average volume of 830,510. Rapid7, Inc. has a 52-week low of $26.77 and a 52-week high of $50.55. The business's fifty day moving average is $34.13 and its 200 day moving average is $37.57. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 72.54 and a beta of 0.92.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. As a group, sell-side analysts anticipate that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on RPD shares. JPMorgan Chase & Co. reduced their price objective on shares of Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Truist Financial reduced their price objective on shares of Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, February 13th. Robert W. Baird reduced their price objective on shares of Rapid7 from $43.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. UBS Group reduced their price objective on shares of Rapid7 from $52.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Stifel Nicolaus reduced their target price on shares of Rapid7 from $42.00 to $38.00 and set a "hold" rating for the company in a research report on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $40.50.

Insiders Place Their Bets

In other Rapid7 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 completion of the transaction, the chief executive officer now owns 431,469 shares of the company's stock, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by 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.