Schwab Charles Investment Management Inc. Grows Holdings in Rapid7 Inc (RPD)

Schwab Charles Investment Management Inc. raised its stake in Rapid7 Inc (NASDAQ:RPD) by 19.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 85,554 shares of the technology company’s stock after purchasing an additional 14,211 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Rapid7 were worth $1,597,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Wasatch Advisors Inc. increased its stake in Rapid7 by 5.2% in the 4th quarter. Wasatch Advisors Inc. now owns 2,088,008 shares of the technology company’s stock valued at $38,962,000 after buying an additional 103,934 shares during the period. Bank of Montreal Can increased its stake in Rapid7 by 62.3% in the 4th quarter. Bank of Montreal Can now owns 86,841 shares of the technology company’s stock valued at $1,621,000 after buying an additional 33,340 shares during the period. Crow Point Partners LLC acquired a new position in shares of Rapid7 during the 4th quarter worth $119,000. Granahan Investment Management Inc. MA increased its stake in shares of Rapid7 by 6.6% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 255,541 shares of the technology company’s stock worth $4,498,000 after purchasing an additional 15,763 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Rapid7 during the 3rd quarter worth $237,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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Shares of Rapid7 Inc (NASDAQ:RPD) opened at $26.08 on Monday. The stock has a market cap of $1,200.05, a price-to-earnings ratio of -24.60 and a beta of 0.87. Rapid7 Inc has a 1-year low of $13.42 and a 1-year high of $28.18.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Monday, February 12th. The technology company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.11). The firm had revenue of $57.73 million for the quarter, compared to the consensus estimate of $57.39 million. Rapid7 had a negative return on equity of 141.69% and a negative net margin of 22.63%. Rapid7’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.13) earnings per share. equities analysts predict that Rapid7 Inc will post -0.97 EPS for the current year.

Several brokerages have recently commented on RPD. Rosenblatt Securities restated a “buy” rating and set a $23.00 price target on shares of Rapid7 in a research note on Thursday, December 14th. Monness Crespi & Hardt restated a “buy” rating and set a $27.00 price target (up previously from $23.00) on shares of Rapid7 in a research note on Tuesday, February 13th. Northland Securities set a $28.00 price target on shares of Rapid7 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Zacks Investment Research lowered shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. Finally, Royal Bank of Canada restated a “buy” rating and set a $30.00 price target on shares of Rapid7 in a research note on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $25.54.

In related news, Chairman Alan Matthews sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $22.06, for a total transaction of $441,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bain Capital Venture Investors sold 2,000,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $21.01, for a total transaction of $42,020,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,384,381 shares of company stock valued at $76,344,550. 56.90% of the stock is owned by insiders.

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About Rapid7

Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.

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Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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