MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 133,967 Shares of Rapid7, Inc. (NASDAQ:RPD)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Rapid7, Inc. (NASDAQ:RPD) by 17.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 919,434 shares of the technology company’s stock after buying an additional 133,967 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.45% of Rapid7 worth $36,993,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Rapid7 by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock worth $346,721,000 after purchasing an additional 60,095 shares during the last quarter. JANA Partners Management LP grew its holdings in shares of Rapid7 by 0.9% in the 4th quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company’s stock worth $148,454,000 after purchasing an additional 34,589 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Rapid7 by 6.8% in the 4th quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company’s stock worth $50,518,000 after purchasing an additional 79,836 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Rapid7 by 0.9% in the 4th quarter. Legal & General Group Plc now owns 707,556 shares of the technology company’s stock worth $28,465,000 after purchasing an additional 6,269 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Rapid7 by 8.0% in the 4th quarter. Northern Trust Corp now owns 624,936 shares of the technology company’s stock worth $25,141,000 after purchasing an additional 46,351 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Insider Activity

In related news, insider Christina Luconi sold 12,551 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $23.12, for a total transaction of $290,179.12. Following the completion of the sale, the insider now directly owns 58,165 shares of the company’s stock, valued at approximately $1,344,774.80. This represents a 17.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is currently owned by company insiders.

Rapid7 Price Performance

Shares of RPD stock opened at $24.56 on Wednesday. The stock has a market cap of $1.58 billion, a PE ratio of 62.97 and a beta of 1.06. The stock has a 50-day moving average of $25.52 and a 200-day moving average of $34.15. Rapid7, Inc. has a one year low of $21.61 and a one year high of $44.48.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Monday, May 12th. The technology company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. The company had revenue of $210.25 million during the quarter, compared to analysts’ expectations of $208.25 million. Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. Rapid7’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS. As a group, research analysts anticipate that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Citigroup lowered their target price on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus lowered their target price on shares of Rapid7 from $38.00 to $29.00 and set a “hold” rating on the stock in a report on Tuesday. Truist Financial lowered their target price on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price target on shares of Rapid7 from $36.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Morgan Stanley upped their price target on shares of Rapid7 from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $33.53.

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.