Pier Capital LLC Grows Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Pier Capital LLC increased its holdings in Rapid7, Inc. (NASDAQ:RPD) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 186,347 shares of the technology company’s stock after buying an additional 6,179 shares during the quarter. Pier Capital LLC’s holdings in Rapid7 were worth $7,497,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ grew its holdings in Rapid7 by 68.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after purchasing an additional 455 shares during the period. Pacer Advisors Inc. lifted its position in shares of Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after buying an additional 347 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of Rapid7 during the 3rd quarter valued at about $69,000. KBC Group NV grew its stake in shares of Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after acquiring an additional 867 shares during the period. Finally, FORA Capital LLC purchased a new stake in Rapid7 in the 3rd quarter worth approximately $209,000. 95.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the sale, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RPD has been the topic of several analyst reports. StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Robert W. Baird lowered their target price on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus dropped their target price on shares of Rapid7 from $42.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, February 13th. UBS Group decreased their price target on Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Citigroup lowered their price objective on Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.50.

Rapid7 Stock Performance

Shares of RPD opened at $29.70 on Tuesday. The stock has a market capitalization of $1.90 billion, a PE ratio of 76.15 and a beta of 0.92. The company’s fifty day moving average is $33.96 and its 200 day moving average is $37.53. Rapid7, Inc. has a fifty-two week low of $26.77 and a fifty-two week high of $50.55.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. As a group, research analysts forecast that Rapid7, Inc. will post 0.35 earnings per share for the current 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.