Rapid7, Inc. $RPD Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC reduced its position in Rapid7, Inc. (NASDAQ:RPD) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,681,246 shares of the technology company’s stock after selling 49,946 shares during the quarter. Penserra Capital Management LLC’s holdings in Rapid7 were worth $50,273,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Rapid7 by 114.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,136,438 shares of the technology company’s stock valued at $49,409,000 after purchasing an additional 1,142,148 shares during the period. First Trust Advisors LP lifted its holdings in Rapid7 by 4.6% during the 2nd quarter. First Trust Advisors LP now owns 1,543,770 shares of the technology company’s stock worth $35,707,000 after buying an additional 67,801 shares in the last quarter. Geode Capital Management LLC boosted its position in Rapid7 by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,538,756 shares of the technology company’s stock valued at $35,596,000 after buying an additional 25,546 shares during the period. Legal & General Group Plc grew its stake in shares of Rapid7 by 103.0% in the second quarter. Legal & General Group Plc now owns 1,187,803 shares of the technology company’s stock worth $27,474,000 after acquiring an additional 602,684 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its position in shares of Rapid7 by 37.0% during the second quarter. Qube Research & Technologies Ltd now owns 535,121 shares of the technology company’s stock worth $12,377,000 after acquiring an additional 144,627 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Stock Performance

Shares of RPD stock opened at $10.66 on Wednesday. The stock’s 50-day moving average is $14.49 and its two-hundred day moving average is $17.37. The company has a debt-to-equity ratio of 7.01, a quick ratio of 1.19 and a current ratio of 1.19. Rapid7, Inc. has a 1 year low of $10.48 and a 1 year high of $39.39. The firm has a market cap of $698.02 million, a price-to-earnings ratio of 31.35 and a beta of 0.79.

Rapid7 (NASDAQ:RPD) last announced its earnings results 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. The firm had revenue of $217.96 million during the quarter, compared to analysts’ expectations of $216.14 million. Rapid7 had a return on equity of 67.30% and a net margin of 2.61%.The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. Analysts predict that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on RPD. Mizuho lowered their target price on Rapid7 from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, January 21st. Canaccord Genuity Group lowered their price objective on Rapid7 from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Zacks Research cut shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 27th. Barclays downgraded shares of Rapid7 from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $18.00 to $15.00 in a research note on Monday, January 5th. Finally, Royal Bank Of Canada dropped their price objective on shares of Rapid7 from $19.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Rapid7 presently has an average rating of “Hold” and a consensus target price of $19.53.

Insider Buying and Selling

In other Rapid7 news, Director Thomas E. Schodorf bought 6,300 shares of the stock in a transaction dated Wednesday, November 26th. The shares were acquired at an average cost of $15.70 per share, for a total transaction of $98,910.00. Following the completion of the transaction, the director owned 34,440 shares in the company, valued at approximately $540,708. The trade was a 22.39% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mike Burns purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were acquired at an average price of $13.80 per share, with a total value of $27,600.00. Following the purchase, the director owned 5,000 shares in the company, valued at $69,000. This trade represents a 66.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 67,345 shares of company stock valued at $1,025,202 in the last 90 days. Company insiders own 2.40% of the company’s stock.

About Rapid7

Rapid7, Inc is a publicly traded cybersecurity company headquartered in Boston, Massachusetts. Since its founding in 2000, the company has specialized in delivering cloud-based security data and analytics solutions designed to help organizations detect, investigate, and remediate cyber threats. Rapid7 operates under the NASDAQ symbol “RPD” and serves a broad range of industries, including technology, financial services, healthcare, retail, and the public sector.

The core of Rapid7’s offering is its Insight platform, a unified, cloud-native security operations and analytics suite.