Todays Report: Today, Mutual of America Capital Management LLC Increases Stake in Rapid7 Inc. (RPD)

Today, Mutual of America Capital Management LLC Increases Stake in Rapid7 Inc. (RPD)

Mutual of America Capital Management LLC boosted its stake in shares of Rapid7 Inc. (NASDAQ:RPD) by 129.3% during the third quarter, Holdings Channel reports. The institutional investor owned 127,718 shares of the company’s stock after buying an additional 72,018 shares during the period. Mutual of America Capital Management LLC’s holdings in Rapid7 were worth $2,254,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in RPD. Cutler Group LP purchased a new stake in shares of Rapid7 during the third quarter valued at $104,000. Commonwealth Equity Services Inc purchased a new stake in shares of Rapid7 during the second quarter valued at $135,000. American International Group Inc. raised its stake in shares of Rapid7 by 143.8% in the second quarter. American International Group Inc. now owns 11,455 shares of the company’s stock valued at $144,000 after buying an additional 6,756 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Rapid7 by 160.1% in the second quarter. Nationwide Fund Advisors now owns 12,737 shares of the company’s stock valued at $160,000 after buying an additional 7,840 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Rapid7 by 1,990.4% in the second quarter. Barclays PLC now owns 13,316 shares of the company’s stock valued at $167,000 after buying an additional 12,679 shares in the last quarter. 69.24% of the stock is owned by hedge funds and other institutional investors.

Shares of Rapid7 Inc. (NASDAQ:RPD) traded down 0.33% during trading on Monday, hitting $11.98. The stock had a trading volume of 234,203 shares. Rapid7 Inc. has a one year low of $9.05 and a one year high of $19.29. The stock’s 50-day moving average price is $13.91 and its 200 day moving average price is $14.51. The stock’s market cap is $492.69 million.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Wednesday, November 9th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.07. Rapid7 had a negative net margin of 41.53% and a negative return on equity of 101.12%. The company earned $40.30 million during the quarter, compared to analysts’ expectations of $39.42 million. During the same period in the prior year, the company earned ($0.27) earnings per share. The business’s quarterly revenue was up 42.4% compared to the same quarter last year. On average, equities analysts forecast that Rapid7 Inc. will post ($0.85) EPS for the current year.

Several brokerages recently weighed in on RPD. Zacks Investment Research lowered Rapid7 from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Royal Bank Of Canada started coverage on Rapid7 in a report on Friday, October 14th. They issued an “outperform” rating and a $19.00 price objective for the company. Barclays PLC set a $17.00 target price on Rapid7 and gave the company a “buy” rating in a report on Tuesday, August 9th. RBC Capital Markets started coverage on Rapid7 in a report on Friday, October 14th. They set an “outperform” rating and a $19.00 target price for the company. Finally, Rosenblatt Securities started coverage on Rapid7 in a report on Friday, August 26th. They set a “buy” rating and a $23.00 target price for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $19.43.

In related news, insider Corey E. Thomas sold 10,000 shares of the stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $18.42, for a total value of $184,200.00. Following the completion of the sale, the insider now owns 219,757 shares in the company, valued at $4,047,923.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lee David Weiner sold 15,000 shares of the stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $12.00, for a total transaction of $180,000.00. Following the completion of the sale, the insider now owns 44,235 shares of the company’s stock, valued at approximately $530,820. The disclosure for this sale can be found here. 55.30% of the stock is currently owned by corporate insiders.

Rapid7 Company Profile

Rapid7, Inc is a provider of security data and analytics solutions that enable organizations to implement an active approach to cyber security. The Company’s Rapid7 Insight Platform is a security data and analytics platform that provides solutions to cyber security that enables organizations to find and eliminate critical weaknesses and detect attacks in their information technology (IT) environments.

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