Strs Ohio Has $222,000 Stock Holdings in Rapid7, Inc. (NASDAQ:RPD)

Strs Ohio raised its stake in Rapid7, Inc. (NASDAQ:RPD) by 50.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,900 shares of the technology company’s stock after purchasing an additional 1,300 shares during the period. Strs Ohio’s holdings in Rapid7 were worth $222,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RPD. International Assets Investment Management LLC increased its position in Rapid7 by 3,367.9% in the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after buying an additional 943 shares in the last quarter. Financial Connections Group Inc. bought a new stake in shares of Rapid7 during the fourth quarter valued at approximately $95,000. Allspring Global Investments Holdings LLC raised its position in shares of Rapid7 by 13.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock worth $134,000 after purchasing an additional 336 shares during the period. Headlands Technologies LLC acquired a new position in shares of Rapid7 during the third quarter worth approximately $162,000. Finally, Cerity Partners LLC bought a new position in shares of Rapid7 in the 4th quarter worth $206,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Price Performance

Shares of Rapid7 stock opened at $45.68 on Tuesday. The firm has a market cap of $2.84 billion, a PE ratio of -18.20 and a beta of 1.01. Rapid7, Inc. has a 1 year low of $39.49 and a 1 year high of $61.88. The stock has a fifty day moving average price of $50.97 and a 200-day moving average price of $53.07.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.27. The company had revenue of $205.27 million during the quarter, compared to analyst estimates of $201.52 million. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. As a group, equities analysts anticipate that Rapid7, Inc. will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the sale, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the transaction, the chief operating officer now owns 257,494 shares of the company’s stock, valued at approximately $13,665,206.58. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on RPD shares. UBS Group upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and boosted their price target for the company from $53.00 to $70.00 in a research note on Monday, January 29th. Citigroup raised shares of Rapid7 from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $54.00 to $65.00 in a research report on Tuesday, January 9th. JPMorgan Chase & Co. dropped their price target on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. StockNews.com lowered Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $70.00 target price on shares of Rapid7 in a report on Thursday, February 8th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.56.

Rapid7 Company 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.