Acorn Financial Advisory Services Inc. ADV Buys New Holdings in Rapid7 Inc (NASDAQ:RPD)

Acorn Financial Advisory Services Inc. ADV bought a new stake in Rapid7 Inc (NASDAQ:RPD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,832 shares of the technology company’s stock, valued at approximately $495,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. boosted its position in Rapid7 by 26.4% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,038 shares of the technology company’s stock worth $61,000 after purchasing an additional 217 shares in the last quarter. Signaturefd LLC boosted its position in Rapid7 by 125.0% in the 3rd quarter. Signaturefd LLC now owns 1,800 shares of the technology company’s stock worth $82,000 after purchasing an additional 1,000 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Rapid7 during the 4th quarter valued at approximately $109,000. Tower Research Capital LLC TRC lifted its position in shares of Rapid7 by 1,438.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,970 shares of the technology company’s stock valued at $135,000 after buying an additional 2,777 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Rapid7 by 36.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,222 shares of the technology company’s stock valued at $180,000 after buying an additional 858 shares in the last quarter. Hedge funds and other institutional investors own 90.27% of the company’s stock.

In related news, CFO Jeffrey Kalowski sold 37,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $55.34, for a total transaction of $2,075,250.00. Also, Director Judy Bruner sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $50.97, for a total value of $127,425.00. Following the transaction, the director now owns 30,942 shares of the company’s stock, valued at $1,577,113.74. The disclosure for this sale can be found here. Insiders have sold a total of 131,088 shares of company stock valued at $7,217,345 over the last three months. Corporate insiders own 4.90% of the company’s stock.

A number of research analysts have recently issued reports on RPD shares. BidaskClub lowered Rapid7 from a “strong-buy” rating to a “buy” rating in a research report on Friday. Piper Jaffray Companies started coverage on Rapid7 in a research report on Monday, December 9th. They set an “overweight” rating and a $67.00 target price on the stock. Raymond James increased their target price on Rapid7 from $69.00 to $75.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 22nd. Zacks Investment Research lowered Rapid7 from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Finally, Robert W. Baird reiterated a “buy” rating and set a $72.00 target price on shares of Rapid7 in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $65.28.

Shares of RPD traded down $1.93 during midday trading on Monday, reaching $60.33. The company had a trading volume of 10,924 shares, compared to its average volume of 377,323. Rapid7 Inc has a 1-year low of $35.31 and a 1-year high of $66.01. The stock has a market cap of $3.07 billion, a PE ratio of -55.84 and a beta of 1.22. The firm has a 50 day simple moving average of $58.51 and a 200-day simple moving average of $54.98. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.97.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Tuesday, November 5th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.20. The business had revenue of $83.20 million during the quarter, compared to the consensus estimate of $80.11 million. Rapid7 had a negative return on equity of 40.74% and a negative net margin of 17.27%. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same period last year, the company earned ($0.04) EPS. As a group, sell-side analysts anticipate that Rapid7 Inc will post -0.67 earnings per share for the current fiscal year.

Rapid7 Company Profile

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

See Also: Why are analyst ratings important in trading stocks?

Want to see what other hedge funds are holding RPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rapid7 Inc (NASDAQ:RPD).

Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

Receive News & Ratings for Rapid7 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rapid7 and related companies with MarketBeat.com's FREE daily email newsletter.