Cibc World Markets Corp Purchases Shares of 5,793 Rapid7, Inc. (NASDAQ:RPD)

Cibc World Markets Corp acquired a new position in Rapid7, Inc. (NASDAQ:RPD) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 5,793 shares of the technology company’s stock, valued at approximately $233,000.

Several other hedge funds have also recently made changes to their positions in RPD. Nordea Investment Management AB raised its stake in Rapid7 by 100.8% in the fourth quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company’s stock worth $3,030,000 after buying an additional 37,708 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Rapid7 in the 4th quarter worth approximately $12,050,000. Stifel Financial Corp purchased a new position in shares of Rapid7 in the 3rd quarter valued at approximately $1,006,000. Maverick Capital Ltd. bought a new stake in shares of Rapid7 during the third quarter valued at approximately $1,679,000. Finally, Harbor Capital Advisors Inc. grew its stake in Rapid7 by 259.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock worth $11,625,000 after purchasing an additional 208,501 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the transaction, the chief executive officer now owns 431,469 shares in the company, valued at $16,991,249.22. This trade 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. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. DA Davidson dropped their target price on shares of Rapid7 from $35.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday. Robert W. Baird dropped their price objective 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. Scotiabank decreased their target price on shares of Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus dropped their price target on Rapid7 from $42.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Finally, Morgan Stanley began coverage on Rapid7 in a research report on Tuesday, March 18th. They set an “equal weight” rating and a $33.00 price objective for the company. Fifteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Rapid7 currently has an average rating of “Hold” and an average price target of $39.94.

Rapid7 Trading Down 0.7 %

NASDAQ:RPD opened at $29.48 on Wednesday. The company has a market cap of $1.89 billion, a PE ratio of 75.59 and a beta of 0.92. The company has a 50 day simple moving average of $33.76 and a two-hundred day simple moving average of $37.49. Rapid7, Inc. has a 12 month low of $26.77 and a 12 month high of $50.55.

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

About Rapid7

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.