Vanguard Group Inc. Buys 60,095 Shares of Rapid7, Inc. (NASDAQ:RPD)

Vanguard Group Inc. boosted its holdings in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,618,480 shares of the technology company's stock after purchasing an additional 60,095 shares during the quarter. Vanguard Group Inc. owned about 13.63% of Rapid7 worth $346,721,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James Financial Inc. bought a new position in Rapid7 in the 4th quarter worth about $12,050,000. Harbor Capital Advisors Inc. lifted its stake in shares of Rapid7 by 259.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company's stock worth $11,625,000 after buying an additional 208,501 shares in the last quarter. Birnam Oak Advisors LP purchased a new stake in shares of Rapid7 during the fourth quarter valued at approximately $4,425,000. 272 Capital LP grew its holdings in shares of Rapid7 by 33.4% during the third quarter. 272 Capital LP now owns 215,287 shares of the technology company's stock valued at $8,588,000 after buying an additional 53,849 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Rapid7 by 672.3% during the fourth quarter. Teacher Retirement System of Texas now owns 43,604 shares of the technology company's stock valued at $1,754,000 after acquiring an additional 37,958 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

Insider Activity

In other news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

RPD has been the topic of several recent analyst reports. DA Davidson cut their target price on Rapid7 from $35.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. Robert W. Baird decreased their target price on Rapid7 from $43.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. StockNews.com raised shares of Rapid7 from a "hold" rating to a "buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. decreased their price objective on shares of Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Finally, Stephens initiated coverage on shares of Rapid7 in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $33.00 price objective on the stock. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $39.05.

Rapid7 Price Performance

Shares of NASDAQ RPD traded down $0.33 during mid-day trading on Tuesday, reaching $22.94. The company's stock had a trading volume of 1,631,507 shares, compared to its average volume of 866,240. The stock has a fifty day moving average of $30.84 and a two-hundred day moving average of $36.83. The firm has a market capitalization of $1.47 billion, a PE ratio of 58.82 and a beta of 0.99. Rapid7, Inc. has a 52 week low of $22.08 and a 52 week high of $50.55.

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

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.