Teacher Retirement System of Texas Acquires 37,958 Shares of Rapid7, Inc. (NASDAQ:RPD)

Teacher Retirement System of Texas increased its position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 672.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,604 shares of the technology company's stock after acquiring an additional 37,958 shares during the quarter. Teacher Retirement System of Texas owned about 0.07% of Rapid7 worth $1,754,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RPD. Skandinaviska Enskilda Banken AB publ grew its holdings in Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock worth $46,000 after acquiring an additional 455 shares during the period. Pacer Advisors Inc. boosted its position 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 worth $60,000 after purchasing an additional 347 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Rapid7 during the third quarter worth $69,000. KBC Group NV increased its holdings in Rapid7 by 47.7% in the fourth 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 last quarter. Finally, FORA Capital LLC acquired a new position in Rapid7 in the third quarter valued at about $209,000. Institutional investors own 95.66% of the company's stock.

Rapid7 Stock Down 4.8 %

RPD traded down $1.32 during trading hours on Monday, hitting $26.28. 64,245 shares of the company's stock were exchanged, compared to its average volume of 845,039. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 67.59 and a beta of 0.92. Rapid7, Inc. has a 1-year low of $26.00 and a 1-year high of $50.55. The stock's 50-day moving average is $33.10 and its two-hundred day moving average is $37.37.

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Rapid7 (NASDAQ:RPD - Get Free Report) last posted 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, equities research analysts anticipate that Rapid7, Inc. will post 0.35 EPS for the current year.

Wall Street Analyst Weigh In

RPD has been the subject of several analyst reports. Scotiabank decreased their target price on Rapid7 from $42.00 to $38.00 and set a "sector perform" rating for the company in a research report on Thursday, February 13th. Jefferies Financial Group decreased their price objective on shares of Rapid7 from $50.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, February 13th. UBS Group cut their target price on shares of Rapid7 from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. DA Davidson decreased their price target on shares of Rapid7 from $35.00 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. dropped their price objective on Rapid7 from $42.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Fifteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $39.94.

Insider Buying and Selling at Rapid7

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the sale, the chief executive officer now owns 431,469 shares in the company, 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 legal filing with the SEC, which is available through this link. Corporate 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.