Lisanti Capital Growth LLC Makes New $3.52 Million Investment in Rapid7, Inc. (NASDAQ:RPD)

Lisanti Capital Growth LLC bought a new position in Rapid7, Inc. (NASDAQ:RPD) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 61,685 shares of the technology company’s stock, valued at approximately $3,522,000.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in shares of Rapid7 by 3,367.9% in the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after buying an additional 943 shares during the period. Financial Connections Group Inc. bought a new position in shares of Rapid7 in the 4th quarter worth $95,000. Strs Ohio raised its position in shares of Rapid7 by 100.0% in the 3rd quarter. Strs Ohio now owns 2,600 shares of the technology company’s stock worth $119,000 after acquiring an additional 1,300 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Rapid7 by 13.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock worth $134,000 after acquiring an additional 336 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Rapid7 in the 3rd quarter worth $162,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on RPD shares. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price target on shares of Rapid7 in a research report on Thursday, February 8th. JPMorgan Chase & Co. reduced their price target on Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Citigroup raised Rapid7 from a “neutral” rating to a “buy” rating and upped their target price for the company from $54.00 to $65.00 in a research report on Tuesday, January 9th. StockNews.com lowered Rapid7 from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, UBS Group raised Rapid7 from a “neutral” rating to a “buy” rating and upped their target price for the company from $53.00 to $70.00 in a research report on Monday, January 29th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.56.

Insiders Place Their Bets

In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the transaction, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the transaction, the chief operating officer now owns 236,841 shares in the company, valued at $11,541,261.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Andrew F. Burton sold 31,727 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the completion of the transaction, the chief operating officer now owns 257,494 shares in the company, valued at approximately $13,665,206.58. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Rapid7 Stock Up 2.2 %

Shares of RPD traded up $1.00 during mid-day trading on Monday, reaching $46.21. The company had a trading volume of 725,714 shares, compared to its average volume of 714,222. Rapid7, Inc. has a 52-week low of $39.49 and a 52-week high of $61.88. The stock has a market capitalization of $2.88 billion, a P/E ratio of -18.41 and a beta of 1.01. The stock has a 50 day moving average of $49.62 and a two-hundred day moving average of $52.84.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.27. The firm had revenue of $205.27 million for the quarter, compared to the consensus estimate of $201.52 million. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. On average, sell-side analysts expect that Rapid7, Inc. will post 0.86 earnings per share for the current year.

Rapid7 Profile

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.