Crow Point Partners LLC Takes Position in Rapid7, Inc. (RPD)

Crow Point Partners LLC bought a new position in Rapid7, Inc. (NASDAQ:RPD) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 6,261 shares of the technology company’s stock, valued at approximately $119,000.

Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Rapid7 by 19.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 46,759 shares of the technology company’s stock worth $787,000 after buying an additional 7,588 shares during the last quarter. Citigroup Inc. grew its holdings in Rapid7 by 1,398.9% during the 2nd quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock valued at $165,000 after purchasing an additional 9,135 shares during the last quarter. Citadel Advisors LLC grew its holdings in Rapid7 by 226.8% during the 3rd quarter. Citadel Advisors LLC now owns 148,657 shares of the technology company’s stock valued at $2,616,000 after purchasing an additional 103,164 shares during the last quarter. Ameriprise Financial Inc. bought a new position in Rapid7 during the 2nd quarter valued at about $957,000. Finally, Northern Trust Corp grew its holdings in Rapid7 by 5.8% during the 2nd quarter. Northern Trust Corp now owns 249,189 shares of the technology company’s stock valued at $4,194,000 after purchasing an additional 13,723 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

In other news, Chairman Alan Matthews sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $20.00, for a total value of $400,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lee David Weiner sold 21,125 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $17.93, for a total transaction of $378,771.25. The disclosure for this sale can be found here. Insiders sold a total of 1,117,353 shares of company stock worth $20,551,788 over the last 90 days. Insiders own 56.90% of the company’s stock.

Several brokerages recently commented on RPD. BidaskClub upgraded shares of Rapid7 from a “sell” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC began coverage on shares of Rapid7 in a report on Monday, October 23rd. They set a “buy” rating and a $23.00 price target on the stock. ValuEngine upgraded shares of Rapid7 from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Rosenblatt Securities reiterated a “buy” rating and set a $23.00 price target on shares of Rapid7 in a report on Thursday, December 14th. Finally, Zacks Investment Research downgraded shares of Rapid7 from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $21.05.

Rapid7, Inc. (NASDAQ RPD) opened at $20.19 on Thursday. The company has a market cap of $885.96 and a PE ratio of -20.39. Rapid7, Inc. has a one year low of $12.20 and a one year high of $20.50.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Tuesday, November 7th. The technology company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.02. The business had revenue of $50.50 million for the quarter, compared to the consensus estimate of $49.87 million. Rapid7 had a negative net margin of 22.44% and a negative return on equity of 115.79%. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) EPS. equities analysts forecast that Rapid7, Inc. will post -1.05 EPS for the current year.

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About Rapid7

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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