Gradient Investments LLC increased its holdings in Rapid7 Inc (NASDAQ:RPD) by 26.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,085 shares of the technology company’s stock after purchasing an additional 4,783 shares during the period. Gradient Investments LLC’s holdings in Rapid7 were worth $431,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Crow Point Partners LLC bought a new position in Rapid7 in the 4th quarter worth approximately $119,000. Fortaleza Asset Management Inc. purchased a new stake in Rapid7 in the 4th quarter worth approximately $160,000. Citigroup Inc. lifted its stake in Rapid7 by 1,398.9% in the 2nd quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock worth $165,000 after purchasing an additional 9,135 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Rapid7 in the 3rd quarter worth approximately $187,000. Finally, Hamilton Lane Advisors LLC purchased a new stake in Rapid7 in the 4th quarter worth approximately $207,000. 68.49% of the stock is owned by institutional investors.

Shares of Rapid7 Inc (NASDAQ:RPD) opened at $23.36 on Wednesday. Rapid7 Inc has a 52-week low of $13.42 and a 52-week high of $25.95.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Monday, February 12th. The technology company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.11). The company had revenue of $57.73 million for the quarter, compared to analysts’ expectations of $57.39 million. Rapid7 had a negative net margin of 22.63% and a negative return on equity of 130.89%. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.13) EPS. analysts forecast that Rapid7 Inc will post -1.01 earnings per share for the current year.

In related news, insider Lee David Weiner sold 20,000 shares of the stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $18.41, for a total transaction of $368,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Bain Capital Venture Investors sold 2,000,000 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $21.01, for a total transaction of $42,020,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,345,246 shares of company stock worth $49,165,672. Corporate insiders own 56.90% of the company’s stock.

Several analysts have issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $23.00 target price on shares of Rapid7 in a research note on Thursday, December 14th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $27.00 target price (up from $23.00) on shares of Rapid7 in a research note on Tuesday. Northland Securities set a $28.00 target price on shares of Rapid7 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Zacks Investment Research cut shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $30.00 target price on shares of Rapid7 in a research note on Friday, January 26th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Rapid7 has a consensus rating of “Buy” and a consensus price target of $24.29.

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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.

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Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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