Algert Global LLC Raises Stock Holdings in Rapid7, Inc. (NASDAQ:RPD)

Algert Global LLC lifted its stake in Rapid7, Inc. (NASDAQ:RPD) by 158.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,953 shares of the technology company’s stock after buying an additional 74,793 shares during the quarter. Algert Global LLC owned about 0.19% of Rapid7 worth $5,272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in RPD. Quest Partners LLC bought a new stake in shares of Rapid7 during the second quarter valued at approximately $35,000. Fidelis Capital Partners LLC bought a new stake in Rapid7 in the 1st quarter valued at $36,000. Mather Group LLC. purchased a new stake in Rapid7 in the 1st quarter worth $42,000. Summit Securities Group LLC bought a new position in shares of Rapid7 during the 2nd quarter valued at about $43,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Rapid7 during the second quarter valued at about $72,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Rapid7 Stock Performance

Shares of RPD stock opened at $37.36 on Monday. Rapid7, Inc. has a fifty-two week low of $32.94 and a fifty-two week high of $61.88. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -18.22 and a beta of 0.96. The stock’s 50-day simple moving average is $36.61 and its 200-day simple moving average is $40.44.

Rapid7 (NASDAQ:RPD) last released its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.06. The company had revenue of $207.99 million for the quarter, compared to the consensus estimate of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. Rapid7’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.33) EPS. As a group, equities analysts forecast that Rapid7, Inc. will post 0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

RPD has been the topic of several research reports. Baird R W cut shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird cut shares of Rapid7 from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $56.00 to $45.00 in a research report on Thursday, August 1st. JPMorgan Chase & Co. dropped their price target on Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada downgraded Rapid7 from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $50.00 to $40.00 in a research report on Friday, September 20th. Finally, UBS Group dropped their target price on Rapid7 from $65.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Fourteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Rapid7 has an average rating of “Hold” and an average price target of $46.13.

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.