Rapid7 Inc (RPD) Position Boosted by Gradient Investments LLC

Gradient Investments LLC grew its stake in shares of Rapid7 Inc (NASDAQ:RPD) by 26.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,085 shares of the technology company’s stock after purchasing an additional 4,783 shares during the period. Gradient Investments LLC owned approximately 0.05% of Rapid7 worth $431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in RPD. Schwab Charles Investment Management Inc. raised its holdings in shares of Rapid7 by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 67,670 shares of the technology company’s stock valued at $1,139,000 after purchasing an additional 399 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Rapid7 by 13.7% during the second quarter. Bank of New York Mellon Corp now owns 85,583 shares of the technology company’s stock valued at $1,441,000 after purchasing an additional 10,345 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Rapid7 by 19.4% during the second quarter. JPMorgan Chase & Co. now owns 46,759 shares of the technology company’s stock valued at $787,000 after purchasing an additional 7,588 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Rapid7 by 39.9% during the second quarter. Alliancebernstein L.P. now owns 30,500 shares of the technology company’s stock valued at $513,000 after purchasing an additional 8,700 shares during the period. Finally, Teachers Advisors LLC raised its holdings in shares of Rapid7 by 11.8% during the second quarter. Teachers Advisors LLC now owns 37,678 shares of the technology company’s stock valued at $634,000 after purchasing an additional 3,991 shares during the period. Hedge funds and other institutional investors own 68.49% of the company’s stock.

In other news, insider Corey E. Thomas sold 250,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $21.01, for a total transaction of $5,252,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lee David Weiner sold 20,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $18.41, for a total transaction of $368,200.00. The disclosure for this sale can be found here. Insiders sold a total of 2,345,246 shares of company stock valued at $49,165,672 over the last ninety days. 56.90% of the stock is currently owned by insiders.

A number of equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley upped their target price on shares of Rapid7 from $20.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $30.00 target price (up previously from $23.00) on shares of Rapid7 in a report on Monday. Monness Crespi & Hardt restated a “buy” rating and issued a $27.00 target price (up previously from $23.00) on shares of Rapid7 in a report on Tuesday. Finally, ValuEngine upgraded shares of Rapid7 from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $24.29.

Shares of Rapid7 Inc (RPD) opened at $23.36 on Wednesday. Rapid7 Inc has a 52-week low of $13.42 and a 52-week high of $25.95.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Monday, February 12th. The technology company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.11). Rapid7 had a negative return on equity of 130.89% and a negative net margin of 22.63%. The firm had revenue of $57.73 million during the quarter, compared to the consensus estimate of $57.39 million. During the same period in the previous year, the company posted ($0.13) earnings per share. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. research analysts predict that Rapid7 Inc will post -1.01 earnings per share for the current fiscal year.

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Rapid7 Profile

Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.

Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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