Engineers Gate Manager LP Boosts Stake in Rapid7 Inc (RPD)

Engineers Gate Manager LP lifted its stake in shares of Rapid7 Inc (NASDAQ:RPD) by 60.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 88,656 shares of the technology company’s stock after buying an additional 33,554 shares during the quarter. Engineers Gate Manager LP’s holdings in Rapid7 were worth $3,273,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd lifted its stake in shares of Rapid7 by 598.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 8,918 shares of the technology company’s stock worth $329,000 after buying an additional 7,642 shares during the last quarter. Emerald Advisers Inc. PA lifted its stake in shares of Rapid7 by 10.5% during the 3rd quarter. Emerald Advisers Inc. PA now owns 865,896 shares of the technology company’s stock worth $31,969,000 after buying an additional 82,086 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Rapid7 by 50.5% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 817,270 shares of the technology company’s stock worth $30,174,000 after buying an additional 274,105 shares during the last quarter. Columbus Circle Investors lifted its stake in shares of Rapid7 by 46.6% during the 3rd quarter. Columbus Circle Investors now owns 701,831 shares of the technology company’s stock worth $25,912,000 after buying an additional 223,083 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of Rapid7 during the 3rd quarter worth about $688,000. Institutional investors own 78.40% of the company’s stock.

Shares of Rapid7 stock opened at $35.27 on Monday. Rapid7 Inc has a twelve month low of $17.43 and a twelve month high of $39.40. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -33.59 and a beta of 1.02.

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

In other Rapid7 news, COO Andrew F. Burton sold 7,000 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $36.23, for a total value of $253,610.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jeffrey Kalowski sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $32.65, for a total transaction of $653,000.00. The disclosure for this sale can be found here. Insiders sold a total of 255,932 shares of company stock valued at $9,512,242 in the last quarter. Corporate insiders own 25.60% of the company’s stock.

A number of research firms have recently issued reports on RPD. KeyCorp raised their target price on shares of Rapid7 from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 7th. BidaskClub upgraded shares of Rapid7 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 21st. Monness Crespi & Hardt raised their target price on shares of Rapid7 from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Zacks Investment Research upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, October 10th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $40.00 price objective on shares of Rapid7 in a research note on Tuesday, August 7th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $35.21.

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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