Ameriprise Financial Inc. purchased a new stake in shares of Rapid7, Inc. (NASDAQ:RPD) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 56,877 shares of the technology company’s stock, valued at approximately $957,000. Ameriprise Financial Inc. owned approximately 0.13% of Rapid7 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of RPD. American International Group Inc. increased its holdings in shares of Rapid7 by 7.1% during the first quarter. American International Group Inc. now owns 12,257 shares of the technology company’s stock valued at $184,000 after acquiring an additional 815 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Rapid7 during the first quarter valued at $218,000. Gradient Investments LLC purchased a new stake in shares of Rapid7 during the second quarter valued at $293,000. Alliancebernstein L.P. boosted its position in shares of Rapid7 by 1.4% during the first quarter. Alliancebernstein L.P. now owns 21,800 shares of the technology company’s stock valued at $327,000 after buying an additional 300 shares during the last quarter. Finally, Swiss National Bank boosted its position in Rapid7 by 21.5% in the first quarter. Swiss National Bank now owns 24,300 shares of the technology company’s stock worth $364,000 after purchasing an additional 4,300 shares during the last quarter. Hedge funds and other institutional investors own 71.80% of the company’s stock.
Rapid7, Inc. (RPD) opened at $18.45 on Friday. Rapid7, Inc. has a 1-year low of $11.26 and a 1-year high of $20.25.
Rapid7 (NASDAQ:RPD) last issued its earnings results on Tuesday, November 7th. The technology company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. The business had revenue of $50.50 million during the quarter, compared to analysts’ expectations of $49.87 million. Rapid7 had a negative return on equity of 115.79% and a negative net margin of 22.44%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.13) EPS. sell-side analysts forecast that Rapid7, Inc. will post -1.03 EPS for the current year.
In other Rapid7 news, insider Lee David Weiner sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $17.15, for a total transaction of $343,000.00. Following the sale, the insider now owns 76,212 shares in the company, valued at approximately $1,307,035.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Alan Matthews sold 52,770 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $17.22, for a total value of $908,699.40. Following the sale, the chairman now owns 3,152,177 shares in the company, valued at approximately $54,280,487.94. The disclosure for this sale can be found here. Insiders have sold a total of 1,114,877 shares of company stock worth $20,351,515 over the last ninety days. 56.90% of the stock is currently owned by corporate insiders.
Several research analysts have issued reports on the company. BidaskClub raised Rapid7 from a “hold” rating to a “buy” rating in a research report on Saturday, October 7th. KeyCorp reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Rapid7 in a research note on Friday, October 6th. Zacks Investment Research downgraded Rapid7 from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Royal Bank Of Canada lifted their target price on Rapid7 from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, November 8th. Finally, Needham & Company LLC assumed coverage on Rapid7 in a research note on Monday, October 23rd. They set a “buy” rating and a $23.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. Rapid7 has a consensus rating of “Buy” and an average target price of $20.83.
Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.
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