Rapid7 Inc (RPD) Holdings Increased by Granahan Investment Management Inc. MA

Granahan Investment Management Inc. MA raised its holdings in shares of Rapid7 Inc (NASDAQ:RPD) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 317,811 shares of the technology company’s stock after purchasing an additional 8,141 shares during the period. Granahan Investment Management Inc. MA owned approximately 0.68% of Rapid7 worth $8,969,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of RPD. BlackRock Inc. boosted its stake in shares of Rapid7 by 64.5% in the 2nd quarter. BlackRock Inc. now owns 2,557,393 shares of the technology company’s stock worth $72,171,000 after buying an additional 1,002,292 shares during the last quarter. Federated Investors Inc. PA boosted its stake in shares of Rapid7 by 8.2% in the 2nd quarter. Federated Investors Inc. PA now owns 1,193,800 shares of the technology company’s stock worth $33,689,000 after buying an additional 90,800 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Rapid7 by 27.5% in the 2nd quarter. Renaissance Technologies LLC now owns 999,200 shares of the technology company’s stock worth $28,197,000 after buying an additional 215,700 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Rapid7 by 1.6% in the 2nd quarter. Voya Investment Management LLC now owns 896,598 shares of the technology company’s stock worth $25,302,000 after buying an additional 14,478 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Rapid7 by 8.3% in the 2nd quarter. Legal & General Group Plc now owns 863,029 shares of the technology company’s stock worth $24,355,000 after purchasing an additional 66,044 shares during the period. Institutional investors and hedge funds own 77.92% of the company’s stock.

In other news, COO Andrew F. Burton sold 9,492 shares of Rapid7 stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $32.53, for a total value of $308,774.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Andrew F. Burton sold 10,000 shares of Rapid7 stock in a transaction dated Thursday, July 19th. The stock was sold at an average price of $32.79, for a total value of $327,900.00. The disclosure for this sale can be found here. Insiders sold 258,532 shares of company stock worth $9,571,570 over the last ninety days. Insiders own 25.60% of the company’s stock.

NASDAQ:RPD opened at $37.80 on Monday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -36.00 and a beta of 1.12. Rapid7 Inc has a 52 week low of $16.59 and a 52 week high of $39.40.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Monday, August 6th. The technology company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.05. The business had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $55.14 million. Rapid7 had a negative return on equity of 105.43% and a negative net margin of 24.40%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period last year, the firm earned ($0.14) earnings per share. equities research analysts predict that Rapid7 Inc will post -1.01 EPS for the current year.

RPD has been the topic of a number of recent research reports. BidaskClub cut Rapid7 from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Stifel Nicolaus raised their target price on Rapid7 from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. BTIG Research cut Rapid7 from a “buy” rating to a “neutral” rating in a report on Monday, June 18th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $40.00 target price on shares of Rapid7 in a report on Tuesday, August 7th. Finally, KeyCorp raised their target price on Rapid7 from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Rapid7 currently has a consensus rating of “Buy” and an average target price of $33.57.

About Rapid7

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

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Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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