Penserra Capital Management LLC Buys 851,108 Shares of Rapid7, Inc. $RPD

Penserra Capital Management LLC increased its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 45.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,731,192 shares of the technology company’s stock after acquiring an additional 851,108 shares during the quarter. Rapid7 makes up about 0.9% of Penserra Capital Management LLC’s portfolio, making the stock its 25th largest position. Penserra Capital Management LLC owned approximately 4.25% of Rapid7 worth $63,172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of RPD. New York State Teachers Retirement System bought a new position in shares of Rapid7 during the 1st quarter worth about $29,000. Teacher Retirement System of Texas raised its stake in Rapid7 by 24.1% during the 1st quarter. Teacher Retirement System of Texas now owns 54,091 shares of the technology company’s stock worth $1,434,000 after buying an additional 10,487 shares during the period. Principal Financial Group Inc. boosted its holdings in Rapid7 by 1.1% in the first quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company’s stock worth $1,456,000 after acquiring an additional 609 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Rapid7 in the first quarter valued at approximately $74,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Rapid7 by 20.3% during the first quarter. Victory Capital Management Inc. now owns 21,040 shares of the technology company’s stock valued at $558,000 after acquiring an additional 3,554 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Stock Performance

Shares of RPD opened at $14.20 on Friday. The stock has a 50 day moving average of $18.90 and a 200 day moving average of $21.43. The company has a market capitalization of $919.39 million, a price-to-earnings ratio of 34.63 and a beta of 0.94. Rapid7, Inc. has a 12 month low of $13.97 and a 12 month high of $44.48. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 9.84.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. Rapid7 had a return on equity of 149.12% and a net margin of 3.41%.The firm had revenue of $217.96 million during the quarter, compared to the consensus estimate of $216.14 million. During the same quarter in the prior year, the company earned $0.66 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Rapid7 has set its FY 2025 guidance at 2.020-2.090 EPS. Q4 2025 guidance at 0.370-0.44 EPS. As a group, sell-side analysts forecast that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RPD. Piper Sandler cut their target price on Rapid7 from $30.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of Rapid7 from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday. Royal Bank Of Canada decreased their target price on shares of Rapid7 from $27.00 to $23.00 and set a “sector perform” rating for the company in a research report on Friday, August 8th. Truist Financial dropped their price target on shares of Rapid7 from $22.00 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Scotiabank decreased their price objective on Rapid7 from $20.00 to $18.00 and set a “sector perform” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.78.

Insider Transactions at Rapid7

In other Rapid7 news, CAO Scott M. Murphy sold 1,370 shares of Rapid7 stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $20.25, for a total value of $27,742.50. Following the sale, the chief accounting officer owned 27,592 shares of the company’s stock, valued at approximately $558,738. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jana Partners Management, Lp purchased 250,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average cost of $21.26 per share, for a total transaction of $5,315,000.00. Following the acquisition, the director directly owned 6,518,604 shares in the company, valued at $138,585,521.04. This trade represents a 3.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 772,194 shares of company stock valued at $15,135,356 in the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

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.