Goldman Sachs Group Inc. Buys 3,398 Shares of Rapid7, Inc. (RPD)
Goldman Sachs Group Inc. raised its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 23.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 17,955 shares of the technology company’s stock after purchasing an additional 3,398 shares during the period. Goldman Sachs Group Inc.’s holdings in Rapid7 were worth $302,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in RPD. Citigroup Inc. lifted its position in shares of Rapid7 by 1,398.9% in the second quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock valued at $165,000 after acquiring an additional 9,135 shares in the last quarter. BT Investment Management Ltd purchased a new position in shares of Rapid7 in the second quarter valued at about $169,000. American International Group Inc. lifted its position in shares of Rapid7 by 7.1% in the first quarter. American International Group Inc. now owns 12,257 shares of the technology company’s stock valued at $184,000 after acquiring an additional 815 shares in the last quarter. Menta Capital LLC purchased a new position in shares of Rapid7 in the second quarter valued at about $227,000. Finally, Gradient Investments LLC purchased a new position in shares of Rapid7 in the second quarter valued at about $293,000. Institutional investors and hedge funds own 71.80% of the company’s stock.
Shares of Rapid7, Inc. (NASDAQ:RPD) opened at $18.45 on Friday. Rapid7, Inc. has a 52-week low of $11.26 and a 52-week high of $20.25.
Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, November 7th. The technology company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.02. The company had revenue of $50.50 million for the quarter, compared to the consensus estimate of $49.87 million. Rapid7 had a negative return on equity of 115.79% and a negative net margin of 22.44%. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.13) earnings per share. equities research analysts predict that Rapid7, Inc. will post -1.03 EPS for the current fiscal year.
In other Rapid7 news, insider Vii Lp Tcv sold 102,465 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $18.33, for a total transaction of $1,878,183.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bain Capital Venture Investors sold 898,517 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $18.30, for a total value of $16,442,861.10. The disclosure for this sale can be found here. Insiders sold 1,114,877 shares of company stock worth $20,351,515 over the last quarter. 56.90% of the stock is owned by company insiders.
Several equities analysts have recently commented on the company. BidaskClub upgraded Rapid7 from a “hold” rating to a “buy” rating in a research report on Saturday, October 7th. KeyCorp restated a “buy” rating and issued a $25.00 price objective on shares of Rapid7 in a research report on Friday, October 6th. Zacks Investment Research downgraded Rapid7 from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Royal Bank Of Canada boosted their price objective on Rapid7 from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. Finally, Needham & Company LLC assumed coverage on Rapid7 in a research report on Monday, October 23rd. They issued a “buy” rating and a $23.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $20.83.
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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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