Standard Life Aberdeen plc Grows Stake in Rapid7 Inc (NASDAQ:RPD)

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Standard Life Aberdeen plc raised its stake in Rapid7 Inc (NASDAQ:RPD) by 36.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 589,216 shares of the technology company’s stock after purchasing an additional 157,141 shares during the quarter. Standard Life Aberdeen plc owned about 1.19% of Rapid7 worth $33,008,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new stake in shares of Rapid7 during the third quarter valued at about $1,029,000. State Street Corp grew its stake in Rapid7 by 1.9% in the third quarter. State Street Corp now owns 1,007,269 shares of the technology company’s stock worth $45,720,000 after purchasing an additional 18,849 shares in the last quarter. Axiom International Investors LLC DE grew its stake in Rapid7 by 22.7% in the fourth quarter. Axiom International Investors LLC DE now owns 49,270 shares of the technology company’s stock worth $2,760,000 after purchasing an additional 9,105 shares in the last quarter. Barclays PLC grew its stake in Rapid7 by 22.1% in the third quarter. Barclays PLC now owns 391,289 shares of the technology company’s stock worth $17,761,000 after purchasing an additional 70,725 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY grew its stake in Rapid7 by 31.1% in the third quarter. Metropolitan Life Insurance Co NY now owns 15,465 shares of the technology company’s stock worth $702,000 after purchasing an additional 3,669 shares in the last quarter. 90.76% of the stock is currently owned by institutional investors.

In related news, COO Andrew F. Burton sold 23,922 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $56.12, for a total transaction of $1,342,502.64. Following the sale, the chief operating officer now owns 231,659 shares of the company’s stock, valued at $13,000,703.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jeffrey Kalowski sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $47.04, for a total value of $2,116,800.00. Following the sale, the chief financial officer now directly owns 225,564 shares in the company, valued at approximately $10,610,530.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,290 shares of company stock worth $3,979,726. 4.90% of the stock is owned by corporate insiders.

A number of research firms recently commented on RPD. Goldman Sachs Group began coverage on Rapid7 in a research note on Tuesday. They issued a “buy” rating and a $49.00 price target for the company. Royal Bank of Canada reiterated a “buy” rating and issued a $65.00 price target on shares of Rapid7 in a research note on Wednesday, March 18th. Mizuho reiterated a “buy” rating and issued a $68.00 price target on shares of Rapid7 in a research note on Tuesday, February 11th. BidaskClub upgraded Rapid7 from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Zacks Investment Research upgraded Rapid7 from a “sell” rating to a “hold” rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Rapid7 currently has an average rating of “Buy” and a consensus price target of $63.53.

Shares of RPD traded up $3.90 during mid-day trading on Thursday, reaching $46.27. 826,797 shares of the company’s stock traded hands, compared to its average volume of 659,315. The business’s 50-day moving average price is $47.84 and its 200-day moving average price is $52.48. The stock has a market capitalization of $2.09 billion, a P/E ratio of -42.06 and a beta of 1.38. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.27 and a current ratio of 1.27. Rapid7 Inc has a 12 month low of $31.34 and a 12 month high of $66.01.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Monday, February 10th. The technology company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.04. The company had revenue of $91.65 million for the quarter, compared to analysts’ expectations of $88.21 million. Rapid7 had a negative return on equity of 42.07% and a negative net margin of 16.47%. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Equities research analysts anticipate that Rapid7 Inc will post -0.87 EPS for the current year.

About Rapid7

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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Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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