Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in Rapid7, Inc. (NASDAQ:RPD)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Rapid7, Inc. (NASDAQ:RPD) by 3.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,078 shares of the technology company’s stock after buying an additional 965 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rapid7 were worth $1,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Algert Global LLC raised its position in shares of Rapid7 by 158.6% during the 2nd quarter. Algert Global LLC now owns 121,953 shares of the technology company’s stock worth $5,272,000 after purchasing an additional 74,793 shares during the last quarter. SG Americas Securities LLC increased its stake in Rapid7 by 7,688.6% during the 2nd quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock worth $7,141,000 after buying an additional 163,075 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Rapid7 during the third quarter valued at approximately $948,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Rapid7 by 36.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,951 shares of the technology company’s stock valued at $3,429,000 after acquiring an additional 22,734 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Rapid7 by 252.0% in the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock worth $164,236,000 after acquiring an additional 2,719,791 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Transactions at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the transaction, the director now owns 17,460 shares in the company, valued at $698,400. The trade was a 17.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Rapid7 Stock Down 1.2 %

Rapid7 stock opened at $43.43 on Friday. Rapid7, Inc. has a 52-week low of $32.94 and a 52-week high of $61.88. The firm has a market cap of $2.75 billion, a PE ratio of 68.94 and a beta of 0.95. The company’s 50 day moving average is $40.57 and its two-hundred day moving average is $38.68.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The firm had revenue of $214.65 million during the quarter, compared to analyst estimates of $210.04 million. During the same period last year, the business posted $0.11 earnings per share. Rapid7’s revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts anticipate that Rapid7, Inc. will post 0.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RPD has been the topic of a number of research reports. DA Davidson raised their price objective on Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Truist Financial decreased their price target on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Rapid7 in a research note on Wednesday, October 16th. They set a “buy” rating and a $50.00 price objective for the company. StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Piper Sandler cut their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.59.

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.