Rapid7, Inc. (NASDAQ:RPD) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 46.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,254,323 shares of the technology company’s stock after acquiring an additional 397,968 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 2.01% of Rapid7 worth $61,512,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Rapid7 by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock worth $322,337,000 after buying an additional 148,440 shares during the period. First Trust Advisors LP raised its holdings in Rapid7 by 49.2% during the 4th quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after buying an additional 1,124,429 shares during the period. Wasatch Advisors LP raised its holdings in Rapid7 by 12.8% during the 4th quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company’s stock worth $80,514,000 after buying an additional 160,531 shares during the period. Legal & General Group Plc raised its holdings in Rapid7 by 10.6% during the 3rd quarter. Legal & General Group Plc now owns 699,818 shares of the technology company’s stock worth $32,038,000 after buying an additional 66,935 shares during the period. Finally, Norges Bank purchased a new position in Rapid7 during the 4th quarter valued at about $37,790,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on RPD shares. Mizuho lowered their target price on Rapid7 from $62.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Barclays lowered their target price on Rapid7 from $60.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 8th. Citigroup lowered their target price on Rapid7 from $65.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Stifel Nicolaus lowered their price target on Rapid7 from $63.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada lowered their price target on Rapid7 from $70.00 to $57.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $51.73.

Rapid7 Stock Down 0.0 %

NASDAQ:RPD traded down $0.01 during trading hours on Friday, reaching $41.95. The company had a trading volume of 446,974 shares, compared to its average volume of 1,249,864. The stock has a 50-day moving average of $39.37 and a two-hundred day moving average of $48.65. The firm has a market capitalization of $2.61 billion, a PE ratio of -20.46 and a beta of 0.98. Rapid7, Inc. has a one year low of $35.08 and a one year high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Tuesday, May 7th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $205.10 million for the quarter, compared to analysts’ expectations of $204.10 million. Rapid7 had a negative return on equity of 31.09% and a negative net margin of 15.14%. As a group, sell-side analysts expect that Rapid7, Inc. will post 0.75 earnings per share for the current year.

Insider Buying and Selling at Rapid7

In related news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the sale, the chief operating officer now owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

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.