Pitcairn Co. lifted its position in shares of Rapid7 Inc (NASDAQ:RPD) by 4.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,550 shares of the technology company’s stock after purchasing an additional 256 shares during the quarter. Pitcairn Co.’s holdings in Rapid7 were worth $284,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Raymond James & Associates grew its holdings in Rapid7 by 11.6% during the second quarter. Raymond James & Associates now owns 357,956 shares of the technology company’s stock worth $18,263,000 after buying an additional 37,088 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Rapid7 by 73.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,589 shares of the technology company’s stock worth $285,000 after buying an additional 2,367 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in Rapid7 by 3.6% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 682,922 shares of the technology company’s stock worth $34,843,000 after buying an additional 23,500 shares in the last quarter. Juncture Wealth Strategies LLC bought a new stake in Rapid7 during the second quarter worth $248,000. Finally, Heritage Investors Management Corp bought a new stake in Rapid7 during the second quarter worth $1,793,000. Institutional investors and hedge funds own 91.69% of the company’s stock.
A number of research analysts have issued reports on the company. Monness Crespi & Hardt reduced their price objective on Rapid7 from $72.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Barclays upped their price objective on Rapid7 from $58.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Robert W. Baird restated a “buy” rating on shares of Rapid7 in a research note on Friday, May 8th. Zacks Investment Research upgraded Rapid7 from a “sell” rating to a “hold” rating in a research note on Wednesday, July 8th. Finally, Morgan Stanley upped their price objective on Rapid7 from $43.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 13th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $60.77.
RPD stock opened at $59.57 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 3.40. Rapid7 Inc has a fifty-two week low of $31.34 and a fifty-two week high of $64.48. The stock has a fifty day moving average of $52.71 and a 200-day moving average of $49.92.
Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). The company had revenue of $94.34 million during the quarter, compared to the consensus estimate of $93.82 million. Rapid7 had a negative return on equity of 55.85% and a negative net margin of 18.70%. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.02 EPS. Analysts anticipate that Rapid7 Inc will post -1.29 earnings per share for the current fiscal year.
In related news, insider Lee David Weiner sold 11,205 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $46.32, for a total transaction of $519,015.60. Following the sale, the insider now owns 160,369 shares of the company’s stock, valued at approximately $7,428,292.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 11,580 shares of company stock worth $537,499 in the last three months. 4.60% of the stock is currently owned by insiders.
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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