Redwood Investment Management LLC Acquires Shares of 13,021 Rapid7, Inc. (NASDAQ:RPD)

Redwood Investment Management LLC purchased a new stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 13,021 shares of the technology company's stock, valued at approximately $486,000.

A number of other large investors have also recently modified their holdings of RPD. International Assets Investment Management LLC increased its position in Rapid7 by 3,888.2% during 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 period. Quest Partners LLC bought a new position in shares of Rapid7 during the second quarter valued at approximately $35,000. Summit Securities Group LLC purchased a new position in Rapid7 during the second quarter valued at approximately $43,000. RPg Family Wealth Advisory LLC bought a new position in Rapid7 in the third quarter worth approximately $69,000. Finally, Financial Connections Group Inc. purchased a new stake in Rapid7 during the second quarter worth $72,000. Hedge funds and other institutional investors own 95.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RPD shares. UBS Group cut their price target on Rapid7 from $59.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Truist Financial reduced their target price on shares of Rapid7 from $40.00 to $38.00 and set a "hold" rating for the company in a report on Thursday, November 7th. StockNews.com upgraded shares of Rapid7 from a "hold" rating to a "buy" rating in a report on Friday. DA Davidson lifted their price objective on shares of Rapid7 from $35.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada cut shares of Rapid7 from an "outperform" rating to a "sector perform" rating and decreased their target price for the company from $50.00 to $40.00 in a research report on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Rapid7 currently has an average rating of "Hold" and an average price target of $44.59.

Insider Buying and Selling

In related news, Director Reeny Sondhi sold 3,663 shares of the firm's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now directly owns 17,460 shares of the company's stock, valued at $698,400. This trade represents a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Rapid7 Trading Up 0.1 %

Shares of RPD stock traded up $0.05 during mid-day trading on Friday, reaching $43.48. The stock had a trading volume of 699,390 shares, compared to its average volume of 744,936. Rapid7, Inc. has a 1-year low of $32.94 and a 1-year high of $61.88. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 69.02 and a beta of 0.95. The business's fifty day moving average is $40.69 and its 200-day moving average is $38.71.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.14. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The company had revenue of $214.65 million for the quarter, compared to the consensus estimate of $210.04 million. During the same quarter in the prior year, the company earned $0.11 EPS. Rapid7's quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts forecast that Rapid7, Inc. will post 0.98 earnings per share for the current year.

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.