Rapid7 Inc (RPD) Shares Bought by Emerald Advisers Inc. PA

Emerald Advisers Inc. PA lifted its stake in Rapid7 Inc (NASDAQ:RPD) by 10.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 865,896 shares of the technology company’s stock after purchasing an additional 82,086 shares during the quarter. Rapid7 comprises about 1.2% of Emerald Advisers Inc. PA’s portfolio, making the stock its 21st largest holding. Emerald Advisers Inc. PA owned about 1.85% of Rapid7 worth $31,969,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in Rapid7 by 64.5% during the 2nd quarter. BlackRock Inc. now owns 2,557,393 shares of the technology company’s stock worth $72,171,000 after buying an additional 1,002,292 shares during the last quarter. Federated Investors Inc. PA raised its position in Rapid7 by 8.2% during the 2nd quarter. Federated Investors Inc. PA now owns 1,193,800 shares of the technology company’s stock worth $33,689,000 after buying an additional 90,800 shares during the last quarter. Renaissance Technologies LLC raised its position in Rapid7 by 27.5% during the 2nd quarter. Renaissance Technologies LLC now owns 999,200 shares of the technology company’s stock worth $28,197,000 after buying an additional 215,700 shares during the last quarter. Voya Investment Management LLC raised its position in Rapid7 by 1.6% during the 2nd quarter. Voya Investment Management LLC now owns 896,598 shares of the technology company’s stock worth $25,302,000 after buying an additional 14,478 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Rapid7 by 8.3% during the 2nd quarter. Legal & General Group Plc now owns 863,029 shares of the technology company’s stock worth $24,355,000 after buying an additional 66,044 shares during the last quarter. 78.40% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Vii Lp Tcv sold 182,600 shares of Rapid7 stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $37.96, for a total value of $6,931,496.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Andrew F. Burton sold 7,000 shares of Rapid7 stock in a transaction on Monday, September 17th. The shares were sold at an average price of $36.23, for a total transaction of $253,610.00. The disclosure for this sale can be found here. Insiders sold a total of 255,732 shares of company stock worth $9,505,242 in the last three months. 25.60% of the stock is owned by corporate insiders.

A number of equities analysts have issued reports on the stock. KeyCorp raised their price target on shares of Rapid7 from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 7th. Monness Crespi & Hardt raised their price target on shares of Rapid7 from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Royal Bank of Canada reaffirmed a “buy” rating and set a $40.00 price objective on shares of Rapid7 in a research note on Tuesday, August 7th. Zacks Investment Research raised shares of Rapid7 from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, October 10th. Finally, BidaskClub raised shares of Rapid7 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $35.21.

Shares of NASDAQ RPD opened at $34.09 on Wednesday. The company has a market cap of $1.58 billion, a PE ratio of -32.47 and a beta of 1.13. Rapid7 Inc has a 12 month low of $17.43 and a 12 month high of $39.40.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Monday, August 6th. The technology company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.05. The business had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $55.14 million. Rapid7 had a negative net margin of 24.40% and a negative return on equity of 105.43%. The business’s revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.14) EPS. Research analysts forecast that Rapid7 Inc will post -1.01 earnings per share for the current fiscal year.

About Rapid7

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

Read More: Analyst Ratings

Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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