Raymond James Financial Inc. Takes Position in Rapid7, Inc. (NASDAQ:RPD)

Raymond James Financial Inc. purchased a new stake in shares of Rapid7, Inc. (NASDAQ:RPD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 299,524 shares of the technology company’s stock, valued at approximately $12,050,000. Raymond James Financial Inc. owned approximately 0.47% of Rapid7 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Rapid7 by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock valued at $58,330,000 after buying an additional 15,287 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Rapid7 by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,006 shares of the technology company’s stock valued at $20,920,000 after buying an additional 8,918 shares in the last quarter. Thematics Asset Management grew its holdings in shares of Rapid7 by 33.0% during the third quarter. Thematics Asset Management now owns 399,000 shares of the technology company’s stock valued at $15,916,000 after buying an additional 99,000 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Rapid7 by 259.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock valued at $11,625,000 after buying an additional 208,501 shares in the last quarter. Finally, 272 Capital LP grew its holdings in shares of Rapid7 by 33.4% during the third quarter. 272 Capital LP now owns 215,287 shares of the technology company’s stock valued at $8,588,000 after buying an additional 53,849 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling

In related news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was 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 directly owns 431,469 shares in the company, valued at $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is owned by insiders.

Rapid7 Stock Performance

NASDAQ RPD opened at $29.34 on Thursday. Rapid7, Inc. has a twelve month low of $26.77 and a twelve month high of $51.99. The stock has a market capitalization of $1.88 billion, a PE ratio of 75.23 and a beta of 0.92. The stock has a 50-day simple moving average of $34.56 and a 200 day simple moving average of $37.70.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Citigroup reduced their price objective on Rapid7 from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Barclays reduced their price objective on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Finally, Truist Financial reduced their price objective on Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $40.50.

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.