E. Ohman J or Asset Management AB Buys New Position in Rapid7, Inc. (NASDAQ:RPD)

E. Ohman J or Asset Management AB purchased a new position in Rapid7, Inc. (NASDAQ:RPD) during the 4th quarter, Holdings Channel reports. The fund purchased 35,000 shares of the technology company’s stock, valued at approximately $1,408,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. raised its holdings in Rapid7 by 259.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock worth $11,625,000 after purchasing an additional 208,501 shares during the period. Invenomic Capital Management LP bought a new position in shares of Rapid7 in the third quarter worth about $6,647,000. Thematics Asset Management lifted its position in shares of Rapid7 by 33.0% during the 3rd quarter. Thematics Asset Management now owns 399,000 shares of the technology company’s stock valued at $15,916,000 after buying an additional 99,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Rapid7 by 102.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 187,500 shares of the technology company’s stock valued at $7,479,000 after acquiring an additional 94,800 shares during the period. Finally, 272 Capital LP increased its holdings in Rapid7 by 33.4% in the 3rd quarter. 272 Capital LP now owns 215,287 shares of the technology company’s stock worth $8,588,000 after acquiring an additional 53,849 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. 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 owned by corporate insiders.

Rapid7 Trading Up 0.7 %

Shares of NASDAQ RPD opened at $38.79 on Wednesday. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 61.57 and a beta of 0.96. Rapid7, Inc. has a 12-month low of $32.94 and a 12-month high of $61.88. The firm’s 50-day moving average price is $40.13 and its 200-day moving average price is $38.93.

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 firm had revenue of $214.65 million during 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%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. On average, equities analysts predict that Rapid7, Inc. will post 0.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RPD. StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Scotiabank raised their price target on Rapid7 from $39.00 to $42.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $42.00 price objective (down previously from $48.00) on shares of Rapid7 in a research note on Friday, January 17th. Piper Sandler decreased their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, UBS Group dropped their price target on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Fifteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $43.76.

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.