5,120 Shares in Rapid7, Inc. (NASDAQ:RPD) Bought by Continental Investors Services Inc.

Continental Investors Services Inc. acquired a new position in shares of Rapid7, Inc. (NASDAQ:RPD – Get Rating) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 5,120 shares of the technology company’s stock, valued at approximately $316,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. MQS Management LLC raised its holdings in Rapid7 by 23.6% during the third quarter. MQS Management LLC now owns 5,057 shares of the technology company’s stock worth $217,000 after purchasing an additional 967 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Rapid7 in the third quarter worth $1,035,000. Capital Impact Advisors LLC raised its holdings in shares of Rapid7 by 21.0% in the third quarter. Capital Impact Advisors LLC now owns 10,891 shares of the technology company’s stock worth $314,000 after acquiring an additional 1,888 shares during the last quarter. Alamar Capital Management LLC raised its holdings in shares of Rapid7 by 15.2% in the third quarter. Alamar Capital Management LLC now owns 32,031 shares of the technology company’s stock worth $1,374,000 after acquiring an additional 4,219 shares during the last quarter. Finally, Dana Investment Advisors Inc. raised its holdings in shares of Rapid7 by 7.9% in the third quarter. Dana Investment Advisors Inc. now owns 20,388 shares of the technology company’s stock worth $875,000 after acquiring an additional 1,492 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RPD. JPMorgan Chase & Co. began coverage on Rapid7 in a report on Tuesday, January 24th. They issued a “neutral” rating and a $38.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 price target on shares of Rapid7 in a report on Thursday, February 9th. Mizuho boosted their price target on Rapid7 from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 9th. Piper Sandler downgraded Rapid7 from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $45.00 to $52.00 in a research report on Thursday, February 9th. Finally, StockNews.com assumed coverage on Rapid7 in a research note on Thursday. They issued a “hold” rating on the stock. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.89.

Rapid7 Price Performance

Rapid7 stock opened at $38.78 on Friday. The firm has a fifty day moving average of $43.52 and a 200-day moving average of $40.90. Rapid7, Inc. has a 52-week low of $26.49 and a 52-week high of $118.25.

Rapid7 (NASDAQ:RPD – Get Rating) last announced its quarterly earnings results on Wednesday, February 8th. The technology company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.19. The business had revenue of $184.48 million for the quarter, compared to analysts’ expectations of $179.33 million. On average, sell-side analysts predict that Rapid7, Inc. will post -1.17 EPS for the current fiscal year.

About Rapid7

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Rapid7, Inc engages in the provision of cyber security analytics and automation services. Its products include Metasploit, Nexpose, AppSpider, tCell by Rapid7, as well as insight platforms such as InsightDR, InsightIVM, InsightAppSec, InsightConnect, and InsightOps. The firm also offers security and product consulting services.