42,093 Shares in Rapid7, Inc. (NASDAQ:RPD) Acquired by Maverick Capital Ltd.

Maverick Capital Ltd. bought a new stake in shares of Rapid7, Inc. (NASDAQ:RPD) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 42,093 shares of the technology company’s stock, valued at approximately $1,679,000.

A number of other hedge funds also recently modified their holdings of the business. International Assets Investment Management LLC raised its position in Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after buying an additional 661 shares during the period. Quest Partners LLC acquired a new position in shares of Rapid7 in the 2nd quarter valued at about $35,000. Summit Securities Group LLC purchased a new stake in shares of Rapid7 in the second quarter worth approximately $43,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Rapid7 during the third quarter worth approximately $69,000. Finally, Financial Connections Group Inc. purchased a new position in Rapid7 during the second quarter valued at approximately $72,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Rapid7 Price Performance

Rapid7 stock opened at $42.60 on Friday. Rapid7, Inc. has a fifty-two week low of $32.94 and a fifty-two week high of $61.88. The firm has a fifty day moving average price of $40.01 and a two-hundred day moving average price of $38.56. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 67.62 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. The firm had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 EPS. As a group, sell-side analysts expect that Rapid7, Inc. will post 0.98 earnings per share for the current year.

Insider Transactions at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now directly owns 17,460 shares of the company’s stock, valued at $698,400. This trade represents a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RPD shares. Truist Financial cut their target price on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a report on Wednesday, August 7th. Royal Bank of Canada downgraded Rapid7 from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $50.00 to $40.00 in a research note on Friday, September 20th. Jefferies Financial Group assumed coverage on Rapid7 in a research note on Wednesday, October 16th. They set a “buy” rating and a $50.00 price target for the company. Finally, Scotiabank lowered their price target on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $44.59.

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.