Los Angeles Capital Management LLC Grows Position in Rapid7, Inc. (NASDAQ:RPD)

Los Angeles Capital Management LLC boosted its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 17.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 26,292 shares of the technology company’s stock after acquiring an additional 3,811 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Rapid7 were worth $1,501,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors L.P. boosted its holdings in Rapid7 by 2.0% in the fourth quarter. Natixis Advisors L.P. now owns 17,446 shares of the technology company’s stock valued at $996,000 after acquiring an additional 344 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Rapid7 by 25.7% during the 4th quarter. Victory Capital Management Inc. now owns 8,169 shares of the technology company’s stock valued at $466,000 after purchasing an additional 1,670 shares in the last quarter. Duality Advisers LP purchased a new position in shares of Rapid7 during the fourth quarter valued at about $235,000. Cetera Trust Company N.A bought a new position in Rapid7 in the fourth quarter worth about $286,000. Finally, Handelsbanken Fonder AB lifted its holdings in Rapid7 by 12.5% in the fourth quarter. Handelsbanken Fonder AB now owns 9,900 shares of the technology company’s stock worth $565,000 after buying an additional 1,100 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RPD shares. UBS Group upgraded Rapid7 from a “neutral” rating to a “buy” rating and upped their target price for the stock from $53.00 to $70.00 in a report on Monday, January 29th. Scotiabank initiated coverage on Rapid7 in a report on Friday, April 26th. They issued a “sector perform” rating and a $46.00 price objective for the company. JPMorgan Chase & Co. dropped their target price 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 reiterated an “outperform” rating and issued a $70.00 price target on shares of Rapid7 in a research note on Thursday, February 8th. Finally, Barclays boosted their price objective on shares of Rapid7 from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Rapid7 has a consensus rating of “Hold” and a consensus price target of $55.56.

Rapid7 Price Performance

Shares of NASDAQ:RPD opened at $45.80 on Wednesday. Rapid7, Inc. has a 1 year low of $39.49 and a 1 year high of $61.88. The company has a market cap of $2.85 billion, a P/E ratio of -18.25 and a beta of 1.01. The stock’s fifty day moving average price is $49.41 and its 200-day moving average price is $52.81.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $205.27 million for the quarter, compared to analysts’ expectations of $201.52 million. On average, sell-side analysts anticipate that Rapid7, Inc. will post 0.86 earnings per share for the current year.

Rapid7 Company Profile

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.