State Board of Administration of Florida Retirement System Purchases 1,425 Shares of Rapid7, Inc. (NASDAQ:RPD)

State Board of Administration of Florida Retirement System boosted its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 7.5% in the second quarter, Holdings Channel.com reports. The firm owned 20,355 shares of the technology company’s stock after acquiring an additional 1,425 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Rapid7 were worth $1,926,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brinker Capital Investments LLC bought a new position in Rapid7 during the 2nd quarter worth about $2,511,000. Davy Global Fund Management Ltd lifted its stake in Rapid7 by 58.0% in the 1st quarter. Davy Global Fund Management Ltd now owns 28,870 shares of the technology company’s stock valued at $2,154,000 after purchasing an additional 10,603 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Rapid7 in the 1st quarter valued at about $220,000. Quadrature Capital Ltd acquired a new stake in Rapid7 during the first quarter worth approximately $595,000. Finally, GW&K Investment Management LLC lifted its position in Rapid7 by 9.2% during the first quarter. GW&K Investment Management LLC now owns 1,403,726 shares of the technology company’s stock worth $104,732,000 after acquiring an additional 117,877 shares during the last quarter.

In other news, Director Benjamin Holzman sold 5,000 shares of Rapid7 stock in a transaction that occurred on Monday, September 20th. The shares were sold at an average price of $118.40, for a total value of $592,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christina Luconi sold 4,927 shares of Rapid7 stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $109.00, for a total transaction of $537,043.00. Following the completion of the sale, the insider now owns 89,169 shares of the company’s stock, valued at $9,719,421. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,197 shares of company stock valued at $1,162,388. Corporate insiders own 3.60% of the company’s stock.

RPD has been the topic of a number of recent analyst reports. Truist lifted their price objective on shares of Rapid7 from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, August 5th. FBN Securities started coverage on shares of Rapid7 in a research report on Thursday. They issued an “outperform” rating and a $140.00 target price on the stock. The Goldman Sachs Group lifted their price target on shares of Rapid7 from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 13th. KeyCorp assumed coverage on shares of Rapid7 in a report on Monday, August 2nd. They issued an “overweight” rating and a $135.00 target price on the stock. Finally, Robert W. Baird boosted their target price on shares of Rapid7 from $95.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, August 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $122.60.

Shares of RPD opened at $121.64 on Friday. The stock has a market capitalization of $6.79 billion, a P/E ratio of -54.30 and a beta of 1.34. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 5.29. The firm has a fifty day simple moving average of $116.20 and a two-hundred day simple moving average of $95.73. Rapid7, Inc. has a twelve month low of $59.20 and a twelve month high of $125.32.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Wednesday, August 4th. The technology company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. Rapid7 had a negative net margin of 25.64% and a negative return on equity of 177.30%. The business had revenue of $126.42 million during the quarter, compared to analysts’ expectations of $123.09 million. During the same quarter in the prior year, the company posted $0.06 EPS. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. Sell-side analysts expect that Rapid7, Inc. will post -1.92 EPS for the current fiscal year.

About Rapid7

Rapid7, Inc engages in the provision of cyber security analytics and automation services. Its products include Metasploit, Nexpose, AppSpider, tCell by Rapid7, as well as insight platforms such as InsightDR, InsightIVM, InsightAppSec, InsightConnect, and InsightOps. It also offers security and product consulting services.

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Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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