Stephens Investment Management Group LLC bought a new stake in Rapid7 Inc (NASDAQ:RPD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 184,963 shares of the technology company’s stock, valued at approximately $10,698,000.
Other institutional investors have also added to or reduced their stakes in the company. Harvest Group Wealth Management LLC acquired a new stake in Rapid7 in the first quarter valued at $25,000. Private Capital Group LLC increased its position in shares of Rapid7 by 80.4% in the first quarter. Private Capital Group LLC now owns 745 shares of the technology company’s stock valued at $38,000 after buying an additional 332 shares in the last quarter. Signaturefd LLC purchased a new position in shares of Rapid7 in the second quarter valued at $46,000. FNY Investment Advisers LLC purchased a new position in shares of Rapid7 in the second quarter valued at $57,000. Finally, Quantamental Technologies LLC purchased a new position in shares of Rapid7 in the first quarter valued at $76,000. 88.27% of the stock is owned by institutional investors.
Rapid7 stock traded up $0.42 during midday trading on Friday, reaching $53.83. 9,075 shares of the company were exchanged, compared to its average volume of 587,689. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -53.57 and a beta of 1.18. The firm’s 50-day simple moving average is $60.14 and its 200-day simple moving average is $52.58. Rapid7 Inc has a 1 year low of $26.27 and a 1 year high of $66.01. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.37 and a current ratio of 1.37.
A number of brokerages have recently weighed in on RPD. Needham & Company LLC raised their price target on Rapid7 from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 29th. BTIG Research raised their price target on Rapid7 to $62.00 and gave the company a “positive” rating in a research report on Friday, May 3rd. BidaskClub cut Rapid7 from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Nomura began coverage on Rapid7 in a research report on Friday, June 28th. They issued a “buy” rating and a $70.00 price target for the company. Finally, Barclays restated a “buy” rating and issued a $69.00 price target on shares of Rapid7 in a research report on Thursday, July 18th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $62.24.
In other Rapid7 news, CEO Corey E. Thomas sold 20,000 shares of Rapid7 stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $55.24, for a total value of $1,104,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Corey E. Thomas sold 50,000 shares of Rapid7 stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $51.31, for a total value of $2,565,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,100 shares of company stock valued at $5,144,691. 4.90% of the stock is currently owned by company insiders.
Rapid7 Company Profile
Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable 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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