Principal Financial Group Inc. Purchases 4,214 Shares of Rapid7, Inc. (NASDAQ:RPD)

Principal Financial Group Inc. lifted its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 9.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 47,661 shares of the technology company’s stock after acquiring an additional 4,214 shares during the period. Principal Financial Group Inc.’s holdings in Rapid7 were worth $1,901,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RPD. Point72 Asset Management L.P. grew its holdings in Rapid7 by 252.0% in the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock worth $164,236,000 after purchasing an additional 2,719,791 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Rapid7 by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock worth $24,691,000 after buying an additional 18,907 shares during the last quarter. Fred Alger Management LLC increased its position in Rapid7 by 0.3% during the 2nd quarter. Fred Alger Management LLC now owns 494,509 shares of the technology company’s stock valued at $21,378,000 after buying an additional 1,297 shares in the last quarter. Cannae Holdings Inc. purchased a new position in Rapid7 during the second quarter valued at $15,130,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Rapid7 by 37.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 185,781 shares of the technology company’s stock worth $9,102,000 after acquiring an additional 50,603 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Rapid7 Price Performance

NASDAQ RPD opened at $42.86 on Friday. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 67.95 and a beta of 0.96. Rapid7, Inc. has a 1-year low of $32.94 and a 1-year high of $61.88. The business’s fifty day moving average price is $39.01 and its 200-day moving average price is $38.46.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The company had revenue of $214.65 million for the quarter, compared to the consensus estimate of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. Rapid7’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. Equities research analysts anticipate that Rapid7, Inc. will post 0.98 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on RPD. StockNews.com downgraded Rapid7 from a “buy” rating to a “hold” rating in a report on Tuesday. Scotiabank reduced their price objective on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Baird R W cut shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird cut shares of Rapid7 from an “outperform” rating to a “neutral” rating and cut their price target for the company from $56.00 to $45.00 in a report on Thursday, August 1st. Finally, UBS Group reduced their price target on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Rapid7 currently has an average rating of “Hold” and a consensus price target of $44.59.

Insider Transactions at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the transaction, the director now directly owns 17,460 shares in the company, valued at approximately $698,400. The trade was a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.