Skandinaviska Enskilda Banken AB publ Buys 455 Shares of Rapid7, Inc. (NASDAQ:RPD)

Skandinaviska Enskilda Banken AB publ grew its stake in Rapid7, Inc. (NASDAQ:RPD) by 68.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,116 shares of the technology company’s stock after acquiring an additional 455 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Rapid7 were worth $46,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Rapid7 by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock worth $58,330,000 after purchasing an additional 15,287 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Rapid7 by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,006 shares of the technology company’s stock worth $20,920,000 after purchasing an additional 8,918 shares during the period. Thematics Asset Management grew its holdings in Rapid7 by 33.0% during the third quarter. Thematics Asset Management now owns 399,000 shares of the technology company’s stock worth $15,916,000 after purchasing an additional 99,000 shares during the period. Raymond James Financial Inc. bought a new position in Rapid7 during the fourth quarter worth about $12,050,000. Finally, Harbor Capital Advisors Inc. grew its holdings in Rapid7 by 259.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock worth $11,625,000 after purchasing an additional 208,501 shares during the period. Institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

RPD has been the subject of a number of research analyst reports. Jefferies Financial Group reduced their price target on Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 13th. UBS Group reduced their price target on Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. cut their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Raymond James cut their price objective on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Finally, Robert W. Baird cut their price objective on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.50.

Insider Activity at Rapid7

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by insiders.

Rapid7 Price Performance

Shares of NASDAQ:RPD opened at $29.05 on Wednesday. The company’s 50 day simple moving average is $34.75 and its 200 day simple moving average is $37.75. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 74.49 and a beta of 0.92. Rapid7, Inc. has a 1 year low of $26.77 and a 1 year high of $51.99.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. As a group, analysts anticipate that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Rapid7 Company 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.