161,438 Shares in Rapid7, Inc. (NASDAQ:RPD) Bought by 272 Capital LP

272 Capital LP acquired a new stake in shares of Rapid7, Inc. (NASDAQ:RPD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 161,438 shares of the technology company’s stock, valued at approximately $6,979,000. Rapid7 comprises 3.5% of 272 Capital LP’s investment portfolio, making the stock its 8th biggest holding. 272 Capital LP owned 0.26% of Rapid7 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Rapid7 Stock Performance

Shares of Rapid7 stock opened at $35.78 on Tuesday. Rapid7, Inc. has a one year low of $32.94 and a one year high of $61.88. The company has a market capitalization of $2.23 billion, a PE ratio of -17.45 and a beta of 0.96. The company has a 50-day simple moving average of $36.94 and a two-hundred day simple moving average of $40.93.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.52 by $0.06. The firm had revenue of $207.99 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.33) EPS. On average, equities analysts predict that Rapid7, Inc. will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Rapid7 from $46.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Morgan Stanley reissued an “equal weight” rating and set a $46.00 target price on shares of Rapid7 in a research note on Wednesday, July 10th. Baird R W downgraded shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Robert W. Baird cut shares of Rapid7 from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $56.00 to $45.00 in a research report on Thursday, August 1st. Finally, Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their target price for the stock from $52.00 to $43.00 in a research report on Wednesday, August 7th. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.13.

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.