Rapid7, Inc. (NASDAQ:RPD) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its position in Rapid7, Inc. (NASDAQ:RPD) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,462,007 shares of the technology company’s stock after acquiring an additional 15,287 shares during the period. Geode Capital Management LLC’s holdings in Rapid7 were worth $58,330,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Algert Global LLC increased its position in Rapid7 by 158.6% during the 2nd quarter. Algert Global LLC now owns 121,953 shares of the technology company’s stock worth $5,272,000 after purchasing an additional 74,793 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Rapid7 during the third quarter worth about $948,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Rapid7 by 36.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,951 shares of the technology company’s stock valued at $3,429,000 after buying an additional 22,734 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Rapid7 by 252.0% during the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock valued at $164,236,000 after buying an additional 2,719,791 shares during the period. Finally, Maverick Capital Ltd. acquired a new stake in Rapid7 during the third quarter worth approximately $1,679,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the sale, the director now owns 17,460 shares in the company, valued at approximately $698,400. This represents a 17.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RPD has been the subject of a number of recent analyst reports. Royal Bank of Canada downgraded Rapid7 from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $50.00 to $40.00 in a research report on Friday, September 20th. Truist Financial dropped their price objective on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group started coverage on shares of Rapid7 in a research report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 target price on the stock. StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Finally, UBS Group decreased their price target on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Rapid7 currently has a consensus rating of “Hold” and an average target price of $44.59.

Rapid7 Stock Performance

RPD stock opened at $39.36 on Monday. The firm has a market cap of $2.49 billion, a P/E ratio of 62.48 and a beta of 0.95. Rapid7, Inc. has a 1 year low of $32.94 and a 1 year high of $61.88. The stock has a 50-day simple moving average of $40.89 and a 200-day simple moving average of $38.94.

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

Rapid7 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.