ETF Managers Group LLC acquired a new stake in shares of Rapid7, Inc. (NASDAQ:RPD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,152,378 shares of the technology company’s stock, valued at approximately $19,395,000. Rapid7 comprises about 1.6% of ETF Managers Group LLC’s investment portfolio, making the stock its 20th largest position. ETF Managers Group LLC owned 2.67% of Rapid7 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. boosted its position in Rapid7 by 1.4% during the first quarter. Alliancebernstein L.P. now owns 21,800 shares of the technology company’s stock valued at $327,000 after purchasing an additional 300 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Rapid7 by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 67,670 shares of the technology company’s stock valued at $1,139,000 after purchasing an additional 399 shares during the last quarter. American International Group Inc. boosted its position in Rapid7 by 7.1% during the first quarter. American International Group Inc. now owns 12,257 shares of the technology company’s stock valued at $184,000 after purchasing an additional 815 shares during the last quarter. Rhumbline Advisers boosted its position in Rapid7 by 12.8% during the second quarter. Rhumbline Advisers now owns 23,331 shares of the technology company’s stock valued at $393,000 after purchasing an additional 2,640 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Rapid7 by 23.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,620 shares of the technology company’s stock valued at $234,000 after purchasing an additional 2,980 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Shares of Rapid7, Inc. (NASDAQ:RPD) traded up 0.83% during mid-day trading on Thursday, hitting $18.30. The company’s stock had a trading volume of 33,680 shares. The company has a 50-day moving average price of $17.37 and a 200-day moving average price of $17.37. The stock’s market cap is $788.93 million. Rapid7, Inc. has a 1-year low of $10.63 and a 1-year high of $18.33.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Monday, August 7th. The technology company reported ($0.26) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.04. Rapid7 had a negative net margin of 23.67% and a negative return on equity of 98.26%. The company had revenue of $47.44 million during the quarter, compared to the consensus estimate of $46.31 million. During the same period in the prior year, the business posted ($0.22) EPS. The company’s quarterly revenue was up 27.3% on a year-over-year basis. Analysts predict that Rapid7, Inc. will post ($0.62) EPS for the current fiscal year.

A number of research firms recently issued reports on RPD. Zacks Investment Research cut Rapid7 from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub raised Rapid7 from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Susquehanna Bancshares Inc raised Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 price target for the company in a research report on Tuesday, August 8th. UBS AG raised Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 price target for the company in a research report on Tuesday, August 8th. Finally, ValuEngine cut Rapid7 from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $19.50.

In other news, Chairman Alan Matthews sold 52,770 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $17.22, for a total transaction of $908,699.40. Following the completion of the transaction, the chairman now directly owns 3,152,177 shares in the company, valued at approximately $54,280,487.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Lee David Weiner sold 21,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $16.64, for a total transaction of $349,440.00. Following the transaction, the insider now owns 77,212 shares of the company’s stock, valued at $1,284,807.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,770 shares of company stock valued at $1,601,139. Company insiders own 56.90% of the company’s stock.

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Rapid7 Profile

Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.

Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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