Red Spruce Capital LLC Takes Position in Rapid7 Inc (NASDAQ:RPD)

Red Spruce Capital LLC purchased a new stake in Rapid7 Inc (NASDAQ:RPD) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 19,734 shares of the technology company’s stock, valued at approximately $1,105,000.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Rapid7 by 10.8% in the 2nd quarter. Vanguard Group Inc. now owns 4,101,944 shares of the technology company’s stock valued at $237,256,000 after buying an additional 400,958 shares during the period. BlackRock Inc. boosted its position in shares of Rapid7 by 26.2% during the 2nd quarter. BlackRock Inc. now owns 3,421,810 shares of the technology company’s stock worth $197,918,000 after purchasing an additional 710,437 shares during the period. Invesco Ltd. boosted its position in shares of Rapid7 by 39.8% during the 2nd quarter. Invesco Ltd. now owns 1,089,199 shares of the technology company’s stock worth $62,999,000 after purchasing an additional 310,330 shares during the period. Macquarie Group Ltd. boosted its position in shares of Rapid7 by 8.1% during the 2nd quarter. Macquarie Group Ltd. now owns 1,041,507 shares of the technology company’s stock worth $60,241,000 after purchasing an additional 77,771 shares during the period. Finally, State Street Corp boosted its position in shares of Rapid7 by 1.9% during the 3rd quarter. State Street Corp now owns 1,007,269 shares of the technology company’s stock worth $45,720,000 after purchasing an additional 18,849 shares during the period. 90.22% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Corey E. Thomas sold 65,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $55.00, for a total value of $3,575,000.00. Following the sale, the chief executive officer now directly owns 507,462 shares in the company, valued at approximately $27,910,410. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Judy Bruner sold 2,500 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $50.97, for a total transaction of $127,425.00. Following the completion of the sale, the director now owns 30,942 shares in the company, valued at $1,577,113.74. The disclosure for this sale can be found here. Insiders sold a total of 131,088 shares of company stock worth $7,217,345 over the last 90 days. Company insiders own 4.90% of the company’s stock.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of Rapid7 from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Rapid7 in a research report on Tuesday, November 5th. Piper Jaffray Companies assumed coverage on shares of Rapid7 in a research report on Monday, December 9th. They set an “overweight” rating and a $67.00 price objective for the company. Robert W. Baird reaffirmed a “buy” rating and set a $72.00 price objective on shares of Rapid7 in a research report on Tuesday, November 5th. Finally, SunTrust Banks assumed coverage on shares of Rapid7 in a research report on Wednesday, October 2nd. They set a “buy” rating and a $66.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.61.

Shares of RPD stock opened at $62.29 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.97. Rapid7 Inc has a 52 week low of $34.94 and a 52 week high of $66.01. The stock has a market capitalization of $3.12 billion, a PE ratio of -61.67 and a beta of 1.22. The firm has a 50 day moving average of $57.18 and a two-hundred day moving average of $54.80.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.20. Rapid7 had a negative net margin of 17.27% and a negative return on equity of 40.74%. The company had revenue of $83.20 million during the quarter, compared to analysts’ expectations of $80.11 million. During the same quarter last year, the company posted ($0.04) EPS. The firm’s revenue was up 33.3% compared to the same quarter last year. Analysts expect that Rapid7 Inc will post -0.67 EPS for the current fiscal year.

Rapid7 Profile

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable 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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