California State Teachers Retirement System increased its stake in Rapid7 Inc. (NASDAQ:RPD) by 142.0% during the second quarter, Holdings Channel reports. The firm owned 41,726 shares of the company’s stock after buying an additional 24,482 shares during the period. California State Teachers Retirement System owned 0.10% of Rapid7 worth $525,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in Rapid7 by 3.0% in the first quarter. State Street Corp now owns 101,644 shares of the company’s stock valued at $1,328,000 after buying an additional 2,962 shares during the period. Geode Capital Management LLC boosted its position in Rapid7 by 18.5% in the first quarter. Geode Capital Management LLC now owns 63,951 shares of the company’s stock valued at $835,000 after buying an additional 9,989 shares during the period. JPMorgan Chase & Co. boosted its position in Rapid7 by 11.5% in the first quarter. JPMorgan Chase & Co. now owns 168,487 shares of the company’s stock valued at $2,202,000 after buying an additional 17,387 shares during the period. Bank of New York Mellon Corp boosted its position in Rapid7 by 75.7% in the second quarter. Bank of New York Mellon Corp now owns 58,783 shares of the company’s stock valued at $739,000 after buying an additional 25,331 shares during the period. Finally, Harvest Capital Strategies LLC bought a new position in Rapid7 during the first quarter valued at $654,000. Institutional investors own 67.37% of the company’s stock.
Rapid7 Inc. (NASDAQ:RPD) traded down 2.58% during mid-day trading on Friday, hitting $16.62. The stock had a trading volume of 99,909 shares. Rapid7 Inc. has a 12 month low of $9.05 and a 12 month high of $23.62. The stock’s 50-day moving average price is $17.59 and its 200-day moving average price is $14.22. The stock’s market cap is $675.32 million.
Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.22) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.02. Rapid7 had a negative return on equity of 100.88% and a negative net margin of 46.51%. The firm had revenue of $37.30 million for the quarter, compared to analysts’ expectations of $36.29 million. During the same period in the previous year, the firm earned ($0.61) EPS. The business’s quarterly revenue was up 44.6% on a year-over-year basis. On average, analysts predict that Rapid7 Inc. will post ($0.90) earnings per share for the current year.
Several research firms recently weighed in on RPD. Cowen and Company restated a “buy” rating on shares of Rapid7 in a research report on Sunday, June 26th. Zacks Investment Research upgraded shares of Rapid7 from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Macquarie initiated coverage on shares of Rapid7 in a research report on Friday, July 8th. They set a “neutral” rating and a $16.00 price target on the stock. Finally, Barclays PLC set a $17.00 price target on shares of Rapid7 and gave the company a “buy” rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Rapid7 currently has an average rating of “Buy” and a consensus price target of $20.67.
In related news, insider Corey E. Thomas sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $18.05, for a total value of $451,250.00. Following the transaction, the insider now directly owns 194,757 shares of the company’s stock, valued at approximately $3,515,363.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Corey E. Thomas sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $18.42, for a total value of $184,200.00. Following the completion of the transaction, the insider now directly owns 219,757 shares in the company, valued at $4,047,923.94. The disclosure for this sale can be found here. Insiders own 55.30% of the company’s stock.
Rapid7 Company Profile
Rapid7, Inc is a provider of security data and analytics solutions that enable organizations to implement an active approach to cyber security. The Company’s Rapid7 Insight Platform is a security data and analytics platform that provides solutions to cyber security that enables organizations to find and eliminate critical weaknesses and detect attacks in their information technology (IT) environments.
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