Dimensional Fund Advisors LP Purchases Shares of 101,897 Rapid7, Inc. (NASDAQ:RPD)

Dimensional Fund Advisors LP purchased a new stake in Rapid7, Inc. (NASDAQ:RPD) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 101,897 shares of the technology company’s stock, valued at approximately $4,099,000.

A number of other institutional investors have also recently made changes to their positions in the stock. First Trust Advisors LP lifted its stake in shares of Rapid7 by 6.8% in the 4th quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company’s stock valued at $50,518,000 after purchasing an additional 79,836 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Rapid7 by 7.8% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 305,357 shares of the technology company’s stock valued at $12,284,000 after purchasing an additional 22,043 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Rapid7 by 31.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 89,300 shares of the technology company’s stock valued at $3,593,000 after purchasing an additional 21,500 shares during the period. Marshall Wace LLP lifted its stake in shares of Rapid7 by 144.2% in the 4th quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock valued at $19,137,000 after purchasing an additional 280,913 shares during the period. Finally, Quinn Opportunity Partners LLC lifted its stake in shares of Rapid7 by 22.9% in the 4th quarter. Quinn Opportunity Partners LLC now owns 128,797 shares of the technology company’s stock valued at $5,182,000 after purchasing an additional 24,000 shares during the period. Institutional investors own 95.66% of the company’s stock.

Rapid7 Trading Up 6.4%

Shares of NASDAQ:RPD opened at $26.74 on Tuesday. The stock’s 50-day moving average price is $25.59 and its 200-day moving average price is $34.21. Rapid7, Inc. has a 12-month low of $21.61 and a 12-month high of $44.48. The stock has a market capitalization of $1.72 billion, a P/E ratio of 68.56 and a beta of 1.06.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Monday, May 12th. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. The firm had revenue of $210.25 million for the quarter, compared to analysts’ expectations of $208.25 million. During the same period last year, the firm earned $0.55 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, research analysts predict that Rapid7, Inc. will post 0.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RPD. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research note on Thursday, February 13th. Citigroup dropped their price target on Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. DA Davidson dropped their price target on Rapid7 from $35.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 25th. Morgan Stanley dropped their price target on Rapid7 from $33.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus dropped their price target on Rapid7 from $42.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Fourteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Rapid7 currently has an average rating of “Hold” and an average target price of $36.74.

Insider Activity

In related news, insider Christina Luconi sold 12,551 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $23.12, for a total value of $290,179.12. Following the sale, the insider now directly owns 58,165 shares of the company’s stock, valued at $1,344,774.80. This trade represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.60% of the company’s stock.

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.