Migdal Insurance & Financial Holdings Ltd. Increases Stake in Rapid7, Inc. (RPD)
Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 25.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,352 shares of the technology company’s stock after buying an additional 2,124 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Rapid7 were worth $173,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in RPD. ETF Managers Group LLC purchased a new stake in shares of Rapid7 during the 2nd quarter valued at $19,395,000. Laurion Capital Management LP purchased a new stake in shares of Rapid7 during the 2nd quarter valued at $11,614,000. Frontier Capital Management Co. LLC purchased a new stake in shares of Rapid7 during the 2nd quarter valued at $7,473,000. Marshall Wace North America L.P. purchased a new stake in shares of Rapid7 during the 2nd quarter valued at $4,925,000. Finally, UBS Oconnor LLC purchased a new stake in shares of Rapid7 during the 2nd quarter valued at $3,575,000. 71.01% of the stock is owned by institutional investors.
A number of analysts recently weighed in on the stock. BidaskClub raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Saturday. KeyCorp reaffirmed a “buy” rating and set a $25.00 price target on shares of Rapid7 in a research report on Friday, October 6th. Zacks Investment Research cut shares of Rapid7 from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Susquehanna Bancshares Inc raised shares of Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 price target for the company in a research report on Tuesday, August 8th. Finally, UBS AG raised shares of Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 price target for the company in a research report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Rapid7 presently has a consensus rating of “Buy” and a consensus price target of $20.19.
Shares of Rapid7, Inc. (NASDAQ RPD) traded down 0.22% during mid-day trading on Wednesday, reaching $18.05. 3,095 shares of the company were exchanged. Rapid7, Inc. has a 12 month low of $10.63 and a 12 month high of $18.67. The firm’s 50-day moving average is $17.56 and its 200-day moving average is $17.56. The company’s market capitalization is $778.15 million.
Rapid7 (NASDAQ:RPD) last posted its earnings results on Monday, August 7th. The technology company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. Rapid7 had a negative net margin of 23.67% and a negative return on equity of 98.26%. The business had revenue of $47.44 million for the quarter, compared to analyst estimates of $46.31 million. During the same period last year, the business posted ($0.22) EPS. Rapid7’s revenue was up 27.3% compared to the same quarter last year. On average, equities analysts forecast that Rapid7, Inc. will post ($0.62) earnings per share for the current fiscal year.
In related news, insider Lee David Weiner sold 20,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $17.15, for a total value of $343,000.00. Following the transaction, the insider now directly owns 76,212 shares in the company, valued at approximately $1,307,035.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alan Matthews sold 52,770 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $17.22, for a total transaction of $908,699.40. Following the completion of the transaction, the chairman now owns 3,152,177 shares in the company, valued at $54,280,487.94. The disclosure for this sale can be found here. Insiders sold a total of 93,770 shares of company stock worth $1,601,139 over the last quarter. 56.90% of the stock is currently owned by company insiders.
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Rapid7 Company Profile
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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