Nordea Investment Management AB Has $2.26 Million Stake in Rapid7, Inc. (NASDAQ:RPD)

Nordea Investment Management AB lowered its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,513 shares of the technology company’s stock after selling 342 shares during the quarter. Nordea Investment Management AB owned about 0.07% of Rapid7 worth $2,256,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RPD. Diversified Trust Co raised its position in shares of Rapid7 by 30.9% in the 3rd quarter. Diversified Trust Co now owns 19,554 shares of the technology company’s stock valued at $895,000 after buying an additional 4,617 shares in the last quarter. Graham Capital Management L.P. bought a new position in Rapid7 in the third quarter valued at approximately $400,000. Vanguard Group Inc. raised its position in Rapid7 by 2.2% during the third quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock valued at $322,337,000 after purchasing an additional 148,440 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Rapid7 by 34.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 42,448 shares of the technology company’s stock valued at $2,424,000 after purchasing an additional 10,798 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in Rapid7 by 22.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 11,531 shares of the technology company’s stock worth $658,000 after purchasing an additional 2,110 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on RPD. Truist Financial lowered their price target on Rapid7 from $50.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. UBS Group dropped their target price on shares of Rapid7 from $70.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $46.00 price target on shares of Rapid7 in a report on Wednesday. Canaccord Genuity Group lowered their price objective on shares of Rapid7 from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus decreased their target price on shares of Rapid7 from $63.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $51.13.

Rapid7 Price Performance

Shares of Rapid7 stock opened at $39.18 on Thursday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -19.11 and a beta of 0.98. The stock’s 50-day moving average is $39.06 and its 200 day moving average is $48.18. Rapid7, Inc. has a one year low of $35.08 and a one year high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. The company had revenue of $205.10 million during the quarter, compared to the consensus estimate of $204.10 million. On average, sell-side analysts expect that Rapid7, Inc. will post 0.75 EPS for the current fiscal year.

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.