Concentric Capital Strategies LP Acquires 16,277 Shares of Rapid7, Inc. (NASDAQ:RPD)

Concentric Capital Strategies LP boosted its holdings in Rapid7, Inc. (NASDAQ:RPD) by 59.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,457 shares of the technology company’s stock after purchasing an additional 16,277 shares during the quarter. Concentric Capital Strategies LP owned about 0.07% of Rapid7 worth $1,734,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in RPD. International Assets Investment Management LLC raised its stake in Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after buying an additional 661 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Rapid7 in the 2nd quarter worth about $35,000. Summit Securities Group LLC bought a new position in Rapid7 in the 2nd quarter worth about $43,000. Financial Connections Group Inc. purchased a new stake in Rapid7 during the 2nd quarter valued at about $72,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Rapid7 during the 3rd quarter valued at about $69,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now directly owns 17,460 shares in the company, valued at $698,400. This trade represents a 17.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Rapid7 Trading Down 0.1 %

RPD opened at $42.55 on Tuesday. The firm’s 50 day simple moving average is $40.01 and its two-hundred day simple moving average is $38.56. The company has a market capitalization of $2.69 billion, a PE ratio of 67.54 and a beta of 0.95. Rapid7, Inc. has a 1-year low of $32.94 and a 1-year high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The company had revenue of $214.65 million for the quarter, compared to analysts’ expectations of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. Rapid7’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $0.11 EPS. Equities analysts forecast that Rapid7, Inc. will post 0.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RPD shares. StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Truist Financial lowered their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. DA Davidson lifted their target price on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a report on Wednesday, August 7th. Finally, Scotiabank dropped their price objective on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.59.

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.