EFG Asset Management North America Corp. Increases Position in Rapid7, Inc. (NASDAQ:RPD)

EFG Asset Management North America Corp. lifted its holdings in Rapid7, Inc. (NASDAQ:RPD) by 112.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,383 shares of the technology company’s stock after buying an additional 30,897 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Rapid7 were worth $2,350,000 at the end of the most recent quarter.

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

Insider Activity

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RPD. Truist Financial lowered their target price on Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. lowered their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Morgan Stanley initiated coverage on shares of Rapid7 in a report on Tuesday, March 18th. They set an “equal weight” rating and a $33.00 target price on the stock. Scotiabank reduced their price target on shares of Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Finally, UBS Group dropped their price objective on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Rapid7 currently has a consensus rating of “Hold” and a consensus target price of $39.94.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $29.48 on Wednesday. Rapid7, Inc. has a fifty-two week low of $26.77 and a fifty-two week high of $50.55. The company has a market cap of $1.89 billion, a PE ratio of 75.59 and a beta of 0.92. The business has a 50-day simple moving average of $33.76 and a two-hundred day simple moving average of $37.49.

Rapid7 (NASDAQ:RPD) last released its earnings results 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%. On average, sell-side analysts predict that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

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.