Los Angeles Capital Management LLC Raises Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Los Angeles Capital Management LLC boosted its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 60.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,293 shares of the technology company’s stock after acquiring an additional 16,001 shares during the period. Los Angeles Capital Management LLC owned about 0.07% of Rapid7 worth $2,074,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Rapid7 by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock worth $322,337,000 after acquiring an additional 148,440 shares in the last quarter. First Trust Advisors LP grew its holdings in Rapid7 by 49.2% during the 4th quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after acquiring an additional 1,124,429 shares in the last quarter. Hawk Ridge Capital Management LP grew its holdings in Rapid7 by 757.7% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock worth $72,894,000 after acquiring an additional 1,406,619 shares in the last quarter. Wasatch Advisors LP grew its holdings in Rapid7 by 12.8% during the 4th quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company’s stock worth $80,514,000 after acquiring an additional 160,531 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Rapid7 by 11.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 856,355 shares of the technology company’s stock worth $49,143,000 after acquiring an additional 86,633 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Price Performance

Shares of RPD opened at $38.12 on Friday. The company’s fifty day moving average is $40.10 and its two-hundred day moving average is $49.75. Rapid7, Inc. has a 1 year low of $35.08 and a 1 year high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $205.10 million for the quarter, compared to analysts’ expectations of $204.10 million. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. On average, sell-side analysts predict that Rapid7, Inc. will post 0.74 earnings per share for the current year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RPD has been the subject of several analyst reports. Susquehanna lowered their price target on shares of Rapid7 from $55.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, May 13th. Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a research report on Friday, May 10th. Stifel Nicolaus reduced their price objective on shares of Rapid7 from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Mizuho reduced their price objective on shares of Rapid7 from $62.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Finally, Citigroup reduced their price objective on shares of Rapid7 from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rapid7 currently has a consensus rating of “Hold” and an average target price of $51.73.

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.