Vanguard Group Inc. Purchases 400,958 Shares of Rapid7 Inc (NASDAQ:RPD)

Vanguard Group Inc. grew its position in Rapid7 Inc (NASDAQ:RPD) by 10.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,101,944 shares of the technology company’s stock after purchasing an additional 400,958 shares during the period. Vanguard Group Inc. owned approximately 8.40% of Rapid7 worth $237,256,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC increased its position in Rapid7 by 8.3% during the first quarter. RPg Family Wealth Advisory LLC now owns 3,790 shares of the technology company’s stock worth $192,000 after buying an additional 290 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Rapid7 by 30.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,364 shares of the technology company’s stock worth $137,000 after buying an additional 554 shares during the last quarter. Signaturefd LLC acquired a new position in Rapid7 during the second quarter worth approximately $46,000. MML Investors Services LLC increased its position in Rapid7 by 10.0% during the second quarter. MML Investors Services LLC now owns 9,223 shares of the technology company’s stock worth $533,000 after buying an additional 837 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in Rapid7 by 22.6% during the second quarter. Prudential Financial Inc. now owns 5,270 shares of the technology company’s stock worth $305,000 after buying an additional 970 shares during the last quarter. 91.02% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:RPD traded up $2.11 during trading on Thursday, reaching $46.23. 18,020 shares of the stock were exchanged, compared to its average volume of 585,979. Rapid7 Inc has a 12 month low of $26.27 and a 12 month high of $66.01. The firm has a market cap of $2.19 billion, a PE ratio of -45.84 and a beta of 1.20. The stock has a 50-day moving average price of $51.83 and a 200-day moving average price of $53.97. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 2.87.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.26. Rapid7 had a negative return on equity of 39.52% and a negative net margin of 17.63%. The company had revenue of $78.96 million during the quarter, compared to analysts’ expectations of $75.14 million. During the same quarter in the previous year, the company posted ($0.13) earnings per share. The business’s revenue was up 35.1% on a year-over-year basis. On average, sell-side analysts expect that Rapid7 Inc will post -0.62 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on RPD shares. BidaskClub downgraded Rapid7 from a “hold” rating to a “sell” rating in a research report on Friday, September 27th. Needham & Company LLC boosted their price target on Rapid7 from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their price target on Rapid7 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Northland Securities set a $75.00 price target on Rapid7 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Morgan Stanley boosted their price target on Rapid7 from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $63.22.

In related news, insider Christina Luconi sold 3,087 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $53.75, for a total value of $165,926.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Peter Kaes sold 12,881 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $50.03, for a total value of $644,436.43. In the last 90 days, insiders have sold 143,462 shares of company stock valued at $7,610,674. Corporate insiders own 4.90% of the company’s stock.

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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Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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