Bank of Montreal Can increased its stake in shares of Rapid7 Inc (NASDAQ:RPD) by 2,523.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,465 shares of the technology company’s stock after buying an additional 183,206 shares during the quarter. Bank of Montreal Can owned about 0.41% of Rapid7 worth $7,032,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. BlackRock Inc. lifted its stake in Rapid7 by 64.5% during the second quarter. BlackRock Inc. now owns 2,557,393 shares of the technology company’s stock worth $72,171,000 after purchasing an additional 1,002,292 shares during the last quarter. Legal & General Group Plc lifted its stake in Rapid7 by 14,618.1% during the first quarter. Legal & General Group Plc now owns 796,985 shares of the technology company’s stock worth $20,379,000 after purchasing an additional 791,570 shares during the last quarter. Emerald Advisers Inc. PA bought a new stake in Rapid7 during the second quarter worth $22,119,000. Emerald Mutual Fund Advisers Trust bought a new stake in Rapid7 during the second quarter worth $15,328,000. Finally, Allianz Asset Management GmbH lifted its stake in Rapid7 by 535.4% during the first quarter. Allianz Asset Management GmbH now owns 327,900 shares of the technology company’s stock worth $8,384,000 after purchasing an additional 276,293 shares during the last quarter. 78.40% of the stock is currently owned by institutional investors and hedge funds.
RPD has been the subject of several recent analyst reports. Monness Crespi & Hardt upped their target price on Rapid7 from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Stifel Nicolaus upped their target price on Rapid7 from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Royal Bank of Canada restated a “buy” rating and set a $40.00 target price on shares of Rapid7 in a research note on Tuesday, August 7th. BidaskClub cut Rapid7 from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Finally, Zacks Investment Research upgraded Rapid7 from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday, October 10th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Rapid7 currently has a consensus rating of “Buy” and an average target price of $35.21.
Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Monday, August 6th. The technology company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.05. Rapid7 had a negative return on equity of 105.43% and a negative net margin of 24.40%. The company had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $55.14 million. During the same period in the prior year, the company earned ($0.14) EPS. Rapid7’s revenue was up 23.1% compared to the same quarter last year. On average, sell-side analysts predict that Rapid7 Inc will post -1.01 earnings per share for the current fiscal year.
In related news, CFO Jeffrey Kalowski sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $32.65, for a total transaction of $653,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew F. Burton sold 7,000 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $36.23, for a total value of $253,610.00. The disclosure for this sale can be found here. Insiders sold a total of 255,732 shares of company stock valued at $9,505,242 over the last quarter. 25.60% of the stock is owned by corporate insiders.
Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.
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