Connor Clark & Lunn Investment Management Ltd. Boosts Position in Rapid7, Inc. (NASDAQ:RPD)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 36.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,951 shares of the technology company’s stock after acquiring an additional 22,734 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Rapid7 were worth $3,429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RPD. International Assets Investment Management LLC raised its position in shares of Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after acquiring an additional 661 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Rapid7 in the 2nd quarter worth approximately $35,000. Summit Securities Group LLC purchased a new stake in shares of Rapid7 in the 2nd quarter worth approximately $43,000. Financial Connections Group Inc. bought a new position in Rapid7 during the 2nd quarter valued at approximately $72,000. Finally, Point72 Hong Kong Ltd raised its stake in Rapid7 by 315.0% during the second quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock valued at $90,000 after buying an additional 1,575 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling

In other news, Director Reeny Sondhi sold 3,663 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the transaction, the director now owns 17,460 shares in the company, valued at approximately $698,400. The trade was a 17.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Scotiabank decreased their price target on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and lowered their price target for the company from $52.00 to $43.00 in a report on Wednesday, August 7th. StockNews.com lowered Rapid7 from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Baird R W cut shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and cut their price target for the company from $52.00 to $43.00 in a report on Wednesday, August 7th. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.59.

Rapid7 Stock Up 1.0 %

Shares of NASDAQ:RPD opened at $42.86 on Monday. The firm’s 50-day simple moving average is $39.18 and its 200-day simple moving average is $38.39. Rapid7, Inc. has a fifty-two week low of $32.94 and a fifty-two week high of $61.88. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 68.03 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The firm had revenue of $214.65 million for the quarter, compared to analysts’ expectations of $210.04 million. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 EPS. On average, research analysts forecast that Rapid7, Inc. will post 0.98 EPS for the current 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.