The Manufacturers Life Insurance Company Has $1.57 Million Position in Rapid7, Inc. (NASDAQ:RPD)

The Manufacturers Life Insurance Company lifted its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 7.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 36,410 shares of the technology company’s stock after acquiring an additional 2,402 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Rapid7 worth $1,574,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. raised its holdings in Rapid7 by 275.4% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,408 shares of the technology company’s stock worth $580,000 after buying an additional 9,836 shares during the last quarter. Point72 Hong Kong Ltd raised its holdings in Rapid7 by 315.0% during the second quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock worth $90,000 after buying an additional 1,575 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Rapid7 by 68.4% during the second quarter. Squarepoint Ops LLC now owns 71,558 shares of the technology company’s stock worth $3,093,000 after buying an additional 29,058 shares during the last quarter. Fred Alger Management LLC raised its holdings in Rapid7 by 0.3% during the second quarter. Fred Alger Management LLC now owns 494,509 shares of the technology company’s stock worth $21,378,000 after buying an additional 1,297 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Rapid7 by 252.0% during 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 buying an additional 2,719,791 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insiders Place Their Bets

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the transaction, the director now owns 17,460 shares in the company, valued at $698,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on RPD. Baird R W downgraded shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. KeyCorp upgraded shares of Rapid7 to a “hold” rating in a research note on Monday, June 17th. Scotiabank reduced their target price on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $46.00 target price on shares of Rapid7 in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada lowered shares of Rapid7 from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $50.00 to $40.00 in a research note on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.13.

Rapid7 Stock Up 0.6 %

Shares of NASDAQ:RPD opened at $40.51 on Friday. The firm has a market capitalization of $2.54 billion, a PE ratio of -19.76 and a beta of 0.97. Rapid7, Inc. has a twelve month low of $32.94 and a twelve month high of $61.88. The company has a 50-day moving average price of $36.63 and a two-hundred day moving average price of $39.86.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.33) earnings per share. Analysts anticipate that Rapid7, Inc. will post 0.8 earnings per share for the current fiscal year.

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.