Y Intercept Hong Kong Ltd Takes $858,000 Position in Rapid7, Inc. (NASDAQ:RPD)

Y Intercept Hong Kong Ltd purchased a new stake in Rapid7, Inc. (NASDAQ:RPD) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 32,355 shares of the technology company’s stock, valued at approximately $858,000. Y Intercept Hong Kong Ltd owned about 0.05% of Rapid7 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New York State Teachers Retirement System acquired a new stake in Rapid7 during the first quarter worth about $29,000. Versant Capital Management Inc grew its position in Rapid7 by 5,311.1% during the first quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company’s stock worth $39,000 after buying an additional 1,434 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Rapid7 during the first quarter worth about $74,000. Ostrum Asset Management grew its position in Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after buying an additional 772 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Rapid7 by 2,069.2% during the first quarter. GAMMA Investing LLC now owns 5,488 shares of the technology company’s stock worth $145,000 after buying an additional 5,235 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RPD shares. Canaccord Genuity Group decreased their target price on Rapid7 from $43.00 to $39.00 and set a “hold” rating on the stock in a research report on Wednesday, May 14th. Raymond James Financial cut their price target on shares of Rapid7 from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Robert W. Baird raised their price target on shares of Rapid7 from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Scotiabank cut their price target on shares of Rapid7 from $38.00 to $29.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 13th. Finally, Piper Sandler cut their price target on shares of Rapid7 from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.16.

Rapid7 Stock Performance

NASDAQ:RPD opened at $22.71 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 16.87. The firm has a 50 day moving average of $23.33 and a 200-day moving average of $27.76. Rapid7, Inc. has a 1 year low of $21.61 and a 1 year high of $44.48. The stock has a market capitalization of $1.46 billion, a P/E ratio of 58.23 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last released its earnings results on Monday, May 12th. The technology company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. Rapid7 had a net margin of 3.42% and a return on equity of 2,043.18%. The firm had revenue of $210.25 million during the quarter, compared to analyst estimates of $208.25 million. During the same quarter in the previous year, the business earned $0.55 EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rapid7, Inc. will post 0.35 EPS for the current fiscal 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.