Mirae Asset Global Investments Co. Ltd. Increases Stake in Rapid7, Inc. (NASDAQ:RPD)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Rapid7, Inc. (NASDAQ:RPD) by 17.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,900 shares of the technology company’s stock after buying an additional 1,335 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Rapid7 were worth $358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in shares of Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after purchasing an additional 661 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after buying an additional 347 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Rapid7 in the third quarter valued at $69,000. KBC Group NV lifted its holdings in Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after buying an additional 867 shares during the last quarter. Finally, 1620 Investment Advisors Inc. boosted its position in shares of Rapid7 by 14.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after acquiring an additional 352 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on RPD. Truist Financial decreased their target price on Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday. StockNews.com downgraded shares of Rapid7 from a “buy” rating to a “hold” rating in a research report on Thursday. Barclays dropped 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 report on Thursday. Citigroup reduced their price target on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group dropped their price objective on Rapid7 from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday. Sixteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.22.

Rapid7 Price Performance

Rapid7 stock opened at $34.82 on Friday. The stock has a market capitalization of $2.20 billion, a P/E ratio of 55.27 and a beta of 0.96. Rapid7, Inc. has a 12-month low of $32.94 and a 12-month high of $61.79. The firm’s 50-day moving average is $39.39 and its two-hundred day moving average is $38.84.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. As a group, analysts forecast that Rapid7, Inc. will post 0.98 EPS for the current year.

Insider Buying and Selling at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of the firm’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 transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by company insiders.

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.