1620 Investment Advisors Inc. Has $111,000 Stock Holdings in Rapid7, Inc. (NASDAQ:RPD)

1620 Investment Advisors Inc. lifted its position in Rapid7, Inc. (NASDAQ:RPD) by 14.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,783 shares of the technology company’s stock after acquiring an additional 352 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Rapid7 were worth $111,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Comerica Bank grew its stake in Rapid7 by 1.1% in the first quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock valued at $1,243,000 after purchasing an additional 281 shares in the last quarter. Virtu Financial LLC boosted its position in shares of Rapid7 by 7.1% during the 1st quarter. Virtu Financial LLC now owns 5,198 shares of the technology company’s stock valued at $255,000 after acquiring an additional 346 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Rapid7 by 10.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock valued at $185,000 after purchasing an additional 400 shares during the period. Arizona State Retirement System grew its position in Rapid7 by 2.8% in the second quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock valued at $750,000 after acquiring an additional 465 shares during the period. Finally, nVerses Capital LLC increased its position in shares of Rapid7 by 26.1% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the technology company’s stock worth $125,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Stock Performance

Shares of RPD stock opened at $41.30 on Thursday. Rapid7, Inc. has a 52 week low of $32.94 and a 52 week high of $61.88. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -20.15 and a beta of 0.97. The company has a 50-day simple moving average of $37.56 and a 200 day simple moving average of $38.90.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.06. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The business had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. During the same period last year, the firm posted ($0.33) EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. Sell-side analysts forecast that Rapid7, Inc. will post 0.8 EPS for the current year.

Insider Activity at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the sale, the director now owns 17,460 shares in the company, valued at $698,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. UBS Group cut their price target on Rapid7 from $65.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and cut their target price for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Jefferies Financial Group assumed coverage on Rapid7 in a report on Wednesday, October 16th. They set a “buy” rating and a $50.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th. Finally, Robert W. Baird cut shares of Rapid7 from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $56.00 to $45.00 in a research note on Thursday, August 1st. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.06.

About Rapid7

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.