Duality Advisers LP Invests $235,000 in Rapid7, Inc. (NASDAQ:RPD)

Duality Advisers LP acquired a new position in shares of Rapid7, Inc. (NASDAQ:RPD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,109 shares of the technology company’s stock, valued at approximately $235,000.

A number of other large investors also recently modified their holdings of the business. Cetera Trust Company N.A acquired a new stake in Rapid7 in the 4th quarter valued at about $286,000. Handelsbanken Fonder AB lifted its stake in Rapid7 by 12.5% in the 4th quarter. Handelsbanken Fonder AB now owns 9,900 shares of the technology company’s stock valued at $565,000 after purchasing an additional 1,100 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its stake in Rapid7 by 103.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 57,362 shares of the technology company’s stock valued at $3,275,000 after purchasing an additional 29,195 shares during the last quarter. Xponance Inc. acquired a new stake in Rapid7 in the 4th quarter valued at about $210,000. Finally, Federated Hermes Inc. lifted its stake in Rapid7 by 1.9% in the 4th quarter. Federated Hermes Inc. now owns 509,404 shares of the technology company’s stock valued at $29,087,000 after purchasing an additional 9,404 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on RPD shares. JPMorgan Chase & Co. lowered their price target on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, February 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price target on shares of Rapid7 in a report on Thursday, February 8th. Barclays increased their price target on shares of Rapid7 from $58.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. UBS Group raised shares of Rapid7 from a “neutral” rating to a “buy” rating and raised their target price for the stock from $53.00 to $70.00 in a report on Monday, January 29th. Finally, Scotiabank initiated coverage on shares of Rapid7 in a report on Friday. They set a “sector perform” rating and a $46.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $55.56.

Rapid7 Stock Performance

Shares of Rapid7 stock opened at $45.93 on Friday. Rapid7, Inc. has a fifty-two week low of $39.49 and a fifty-two week high of $61.88. The company’s 50 day moving average price is $51.25 and its two-hundred day moving average price is $53.03.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.27. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. The firm had revenue of $205.27 million for the quarter, compared to analyst estimates of $201.52 million. On average, research analysts anticipate that Rapid7, Inc. will post 0.86 EPS for the current year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the sale, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the transaction, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction on Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the transaction, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

About Rapid7

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.