Rapid7, Inc. (NASDAQ:RPD) Shares Bought by Cwm LLC

Cwm LLC grew its position in Rapid7, Inc. (NASDAQ:RPD – Get Rating) by 96.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,119 shares of the technology company’s stock after purchasing an additional 550 shares during the quarter. Cwm LLC’s holdings in Rapid7 were worth $48,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RPD. Frontier Capital Management Co. LLC lifted its holdings in Rapid7 by 606.9% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 79,665 shares of the technology company’s stock worth $5,322,000 after buying an additional 68,396 shares during the last quarter. Aigen Investment Management LP purchased a new stake in Rapid7 during the second quarter worth approximately $325,000. Assenagon Asset Management S.A. boosted its holdings in Rapid7 by 1,235.3% in the third quarter. Assenagon Asset Management S.A. now owns 294,777 shares of the technology company’s stock valued at $12,646,000 after purchasing an additional 272,701 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Rapid7 by 1.7% in the second quarter. Envestnet Asset Management Inc. now owns 101,893 shares of the technology company’s stock valued at $6,806,000 after purchasing an additional 1,732 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Rapid7 by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 982,931 shares of the technology company’s stock worth $65,659,000 after purchasing an additional 33,067 shares in the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rapid7

In other news, CEO Corey E. Thomas sold 41,619 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $28.40, for a total transaction of $1,181,979.60. Following the sale, the chief executive officer now owns 428,074 shares of the company’s stock, valued at approximately $12,157,301.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Rapid7 news, CEO Corey E. Thomas sold 41,619 shares of the business’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $28.40, for a total transaction of $1,181,979.60. Following the sale, the chief executive officer now directly owns 428,074 shares in the company, valued at $12,157,301.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Timothy M. Adams bought 2,500 shares of the stock in a transaction on Monday, December 5th. The stock was purchased at an average cost of $30.00 per share, for a total transaction of $75,000.00. Following the acquisition, the chief financial officer now directly owns 109,294 shares of the company’s stock, valued at approximately $3,278,820. The disclosure for this purchase can be found here. Over the last three months, insiders sold 124,857 shares of company stock valued at $3,923,423. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Royal Bank of Canada dropped their target price on shares of Rapid7 from $57.00 to $47.00 and set an “outperform” rating on the stock in a research report on Thursday, November 3rd. Morgan Stanley reduced their price target on shares of Rapid7 from $55.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, December 19th. BTIG Research assumed coverage on shares of Rapid7 in a research report on Friday, September 23rd. They set a “neutral” rating on the stock. Barclays cut shares of Rapid7 from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $40.00 to $37.00 in a report on Wednesday, January 4th. Finally, KeyCorp lowered their price target on Rapid7 from $86.00 to $57.00 and set an “overweight” rating on the stock in a report on Monday, October 24th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $62.53.

Rapid7 Stock Performance

NASDAQ:RPD opened at $33.69 on Friday. Rapid7, Inc. has a 1 year low of $26.49 and a 1 year high of $118.25. The stock has a fifty day moving average price of $32.38 and a two-hundred day moving average price of $47.17. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -12.30 and a beta of 1.16.

Rapid7 (NASDAQ:RPD – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The technology company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.06. The company had revenue of $175.77 million during the quarter, compared to analysts’ expectations of $176.13 million. On average, analysts predict that Rapid7, Inc. will post -1.86 EPS for the current year.

Rapid7 Profile

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Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a solution that integrates posture management, workload protection, infrastructure entitlements management, infrastructure-as-code security, and Kubernetes protection; InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.