Proficio Capital Partners LLC Makes New Investment in Rapid7, Inc. (NASDAQ:RPD)

Proficio Capital Partners LLC purchased a new position in shares of Rapid7, Inc. (NASDAQ:RPD) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 35,523 shares of the technology company’s stock, valued at approximately $1,429,000.

Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after buying an additional 347 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Rapid7 in the 3rd quarter valued at $69,000. KBC Group NV boosted its stake in shares of Rapid7 by 47.7% in the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after purchasing an additional 867 shares in the last quarter. FORA Capital LLC acquired a new stake in shares of Rapid7 in the 3rd quarter valued at $209,000. Finally, Versor Investments LP acquired a new stake in shares of Rapid7 in the 4th quarter valued at $266,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Trading Down 3.4 %

Shares of NASDAQ:RPD opened at $28.35 on Friday. The stock has a market capitalization of $1.81 billion, a P/E ratio of 72.69 and a beta of 0.92. Rapid7, Inc. has a 1-year low of $26.77 and a 1-year high of $51.89. The business has a 50-day moving average price of $34.34 and a two-hundred day moving average price of $37.63.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. As a group, equities analysts predict that Rapid7, Inc. will post 0.35 EPS for the current year.

Insider Activity

In other news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the sale, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This represents a 18.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RPD has been the topic of several recent analyst reports. Barclays reduced their target price on shares of Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group reduced their target price on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. UBS Group reduced their target price on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Robert W. Baird reduced their target price on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Stifel Nicolaus reduced their target price on shares of Rapid7 from $42.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Fifteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rapid7 presently has an average rating of “Hold” and an average target price of $40.50.

Rapid7 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.