Xponance Inc. Makes New $210,000 Investment in Rapid7, Inc. (NASDAQ:RPD)

Xponance Inc. bought a new position in Rapid7, Inc. (NASDAQ:RPD) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,683 shares of the technology company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in shares of Rapid7 by 3,367.9% in the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after purchasing an additional 943 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in shares of Rapid7 in the fourth quarter worth approximately $95,000. Strs Ohio lifted its position in shares of Rapid7 by 100.0% in the third quarter. Strs Ohio now owns 2,600 shares of the technology company’s stock worth $119,000 after purchasing an additional 1,300 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Rapid7 by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock worth $134,000 after purchasing an additional 336 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Rapid7 in the third quarter worth approximately $162,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on RPD. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Rapid7 in a research report on Thursday, February 8th. Barclays raised their price objective on shares of Rapid7 from $58.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. UBS Group raised shares of Rapid7 from a “neutral” rating to a “buy” rating and raised their price objective for the company from $53.00 to $70.00 in a research report on Monday, January 29th. Scotiabank began coverage on shares of Rapid7 in a research report on Friday. They set a “sector perform” rating and a $46.00 price objective on the stock. Finally, Citigroup raised shares of Rapid7 from a “neutral” rating to a “buy” rating and raised their price objective for the company from $54.00 to $65.00 in a research report on Tuesday, January 9th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Rapid7 currently has an average rating of “Hold” and an average price target of $55.56.

Rapid7 Price Performance

Shares of Rapid7 stock opened at $45.93 on Monday. The firm has a market capitalization of $2.86 billion, a PE ratio of -18.30 and a beta of 1.01. The company’s fifty day moving average price is $50.97 and its two-hundred day moving average price is $53.05. Rapid7, Inc. has a 52-week low of $39.49 and a 52-week high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its quarterly 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. The firm had revenue of $205.27 million for the quarter, compared to analyst estimates of $201.52 million. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. Analysts predict that Rapid7, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Activity

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

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.