Rapid7 Inc (NASDAQ:RPD) Shares Bought by Wells Fargo & Company MN
Wells Fargo & Company MN raised its position in shares of Rapid7 Inc (NASDAQ:RPD) by 10.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 820,929 shares of the technology company’s stock after acquiring an additional 75,883 shares during the period. Wells Fargo & Company MN’s holdings in Rapid7 were worth $41,547,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of RPD. SQN Investors LP raised its position in shares of Rapid7 by 260.8% in the fourth quarter. SQN Investors LP now owns 1,567,865 shares of the technology company’s stock valued at $48,855,000 after buying an additional 1,133,289 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Rapid7 in the fourth quarter valued at approximately $27,223,000. Pictet Asset Management Ltd. acquired a new stake in shares of Rapid7 in the first quarter valued at approximately $21,259,000. First Trust Advisors LP raised its position in shares of Rapid7 by 305.0% in the first quarter. First Trust Advisors LP now owns 423,415 shares of the technology company’s stock valued at $21,429,000 after buying an additional 318,869 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in shares of Rapid7 in the fourth quarter valued at approximately $9,237,000. Institutional investors own 88.93% of the company’s stock.
Several brokerages have commented on RPD. Zacks Investment Research downgraded shares of Rapid7 from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Stifel Nicolaus boosted their price objective on shares of Rapid7 from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Robert W. Baird started coverage on shares of Rapid7 in a research report on Wednesday, April 3rd. They set an “outperform” rating and a $58.00 price objective for the company. Northland Securities reiterated a “buy” rating and set a $64.00 price target on shares of Rapid7 in a report on Friday, May 3rd. Finally, BTIG Research upped their price target on shares of Rapid7 to $62.00 and gave the stock a “positive” rating in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $55.19.
Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.24. The business had revenue of $73.20 million for the quarter, compared to analysts’ expectations of $69.86 million. Rapid7 had a negative net margin of 19.35% and a negative return on equity of 46.34%. The business’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. As a group, research analysts predict that Rapid7 Inc will post -0.61 EPS for the current fiscal year.
In other news, COO Andrew F. Burton sold 22,500 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $51.71, for a total transaction of $1,163,475.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Corey E. Thomas sold 5,000 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $52.58, for a total transaction of $262,900.00. The disclosure for this sale can be found here. Insiders have sold 130,737 shares of company stock worth $6,735,792 in the last ninety days. Insiders own 4.90% of the company’s stock.
Rapid7 Company Profile
Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.
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