Centiva Capital LP Purchases New Position in Rapid7, Inc. (NASDAQ:RPD)

Centiva Capital LP acquired a new position in shares of Rapid7, Inc. (NASDAQ:RPD) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,181 shares of the technology company’s stock, valued at approximately $566,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after buying an additional 661 shares during the period. Quest Partners LLC purchased a new stake in shares of Rapid7 during the second quarter worth about $35,000. Summit Securities Group LLC purchased a new stake in shares of Rapid7 during the second quarter worth about $43,000. Financial Connections Group Inc. acquired a new position in shares of Rapid7 in the second quarter worth about $72,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Rapid7 in the third quarter valued at about $69,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

RPD has been the topic of a number of recent analyst reports. Jefferies Financial Group started coverage on 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 report on Friday. DA Davidson boosted their target price on shares of Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler decreased their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their price target on Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Rapid7 has an average rating of “Hold” and an average price target of $44.59.

Rapid7 Stock Up 0.1 %

Shares of NASDAQ:RPD opened at $43.48 on Friday. The company’s 50-day moving average price is $40.69 and its 200 day moving average price is $38.71. The company has a market cap of $2.75 billion, a PE ratio of 69.02 and a beta of 0.95. Rapid7, Inc. has a fifty-two week low of $32.94 and a fifty-two week high of $61.88.

Rapid7 (NASDAQ:RPD) last released its quarterly 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 analysts’ expectations of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 earnings per share. As a group, equities analysts anticipate that Rapid7, Inc. will post 0.98 EPS for the current year.

Insider Activity

In other news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the sale, the director now directly owns 17,460 shares of the company’s stock, valued at approximately $698,400. This represents a 17.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

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.