25,229 Shares in Rapid7, Inc. (NASDAQ:RPD) Bought by Stifel Financial Corp

Stifel Financial Corp purchased a new stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 25,229 shares of the technology company's stock, valued at approximately $1,006,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its position in Rapid7 by 252.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company's stock valued at $164,236,000 after buying an additional 2,719,791 shares in the last quarter. Cannae Holdings Inc. acquired a new position in Rapid7 during the second quarter worth $15,130,000. Invenomic Capital Management LP bought a new stake in shares of Rapid7 during the third quarter worth about $6,647,000. 272 Capital LP bought a new position in Rapid7 in the 2nd quarter valued at about $6,979,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Rapid7 during the 2nd quarter worth approximately $6,106,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on RPD shares. UBS Group decreased their price target on Rapid7 from $59.00 to $52.00 and set a "buy" rating for the company in a research 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 research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of Rapid7 from $40.00 to $42.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Piper Sandler reduced their price objective on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. Finally, Royal Bank of Canada downgraded Rapid7 from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $50.00 to $40.00 in a research report on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $44.59.

Rapid7 Stock Performance

NASDAQ RPD traded up $0.28 on Tuesday, hitting $39.81. The stock had a trading volume of 244,884 shares, compared to its average volume of 841,955. The firm has a 50-day moving average of $40.86 and a 200-day moving average of $39.00. Rapid7, Inc. has a 52-week low of $32.94 and a 52-week high of $61.88. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 63.19 and a beta of 0.95.

Rapid7 (NASDAQ:RPD - Get Free Report) last released 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. The firm had revenue of $214.65 million for the quarter, compared to analysts' expectations of $210.04 million. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 earnings per share. As a group, research analysts anticipate that Rapid7, Inc. will post 0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction on Monday, September 30th. The shares were 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 directly owns 17,460 shares of the company's stock, valued at approximately $698,400. The trade was a 17.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company's stock.

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.