Birnam Oak Advisors LP Takes $4.43 Million Position in Rapid7, Inc. (NASDAQ:RPD)

Birnam Oak Advisors LP purchased a new stake in shares of Rapid7, Inc. (NASDAQ:RPD) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 110,000 shares of the technology company’s stock, valued at approximately $4,425,000. Rapid7 makes up about 2.1% of Birnam Oak Advisors LP’s portfolio, making the stock its 13th largest position. Birnam Oak Advisors LP owned about 0.17% of Rapid7 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Rapid7 by 68.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after acquiring an additional 455 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after buying an additional 347 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in Rapid7 during the third quarter valued at approximately $69,000. KBC Group NV increased its holdings in Rapid7 by 47.7% during the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after buying an additional 867 shares during the period. Finally, FORA Capital LLC purchased a new position in Rapid7 during the third quarter valued at approximately $209,000. Institutional investors own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RPD shares. StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Barclays cut their price objective on shares of Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a report on Thursday, February 13th. Citigroup cut their price target on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Raymond James cut their price target on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rapid7 presently has an average rating of “Hold” and a consensus target price of $41.22.

Insiders Place Their Bets

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the transaction, the chief executive officer now owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Rapid7 Price Performance

NASDAQ RPD opened at $29.10 on Tuesday. The company has a market capitalization of $1.86 billion, a PE ratio of 74.62 and a beta of 0.92. The company has a fifty day moving average of $34.96 and a 200 day moving average of $37.82. Rapid7, Inc. has a 1 year low of $26.77 and a 1 year high of $51.99.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. Research analysts expect that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Rapid7 Company Profile

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.