Penserra Capital Management LLC Has $49.84 Million Stake in Rapid7, Inc. (NASDAQ:RPD)

Penserra Capital Management LLC grew its position in Rapid7, Inc. (NASDAQ:RPD) by 95.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,880,084 shares of the technology company’s stock after purchasing an additional 919,955 shares during the quarter. Rapid7 comprises approximately 0.9% of Penserra Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Penserra Capital Management LLC’s holdings in Rapid7 were worth $49,841,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in Rapid7 by 1.1% during the first quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company’s stock worth $1,456,000 after buying an additional 609 shares in the last quarter. Teacher Retirement System of Texas grew its position in Rapid7 by 24.1% during the first 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 in the last quarter. New York State Teachers Retirement System acquired a new stake in Rapid7 during the first quarter worth approximately $29,000. Mirae Asset Global Investments Co. Ltd. grew its position in Rapid7 by 18.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,548 shares of the technology company’s stock worth $291,000 after buying an additional 1,648 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its position in Rapid7 by 4.2% during the first quarter. Asset Management One Co. Ltd. now owns 125,093 shares of the technology company’s stock worth $3,316,000 after buying an additional 5,057 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Susquehanna reduced their price target on Rapid7 from $40.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Piper Sandler reduced their target price on Rapid7 from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Stifel Nicolaus reduced their target price on Rapid7 from $38.00 to $29.00 and set a “hold” rating on the stock in a report on Tuesday, May 13th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Rapid7 in a report on Tuesday, May 13th. Finally, DA Davidson reaffirmed an “underperform” rating and issued a $21.00 target price (down previously from $29.00) on shares of Rapid7 in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $33.32.

Rapid7 Trading Up 1.2%

NASDAQ RPD opened at $24.30 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 16.87. Rapid7, Inc. has a twelve month low of $21.61 and a twelve month high of $44.48. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 62.30 and a beta of 1.01. The business’s fifty day moving average is $23.68 and its 200 day moving average is $29.42.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Monday, May 12th. The technology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. Rapid7 had a return on equity of 2,043.18% and a net margin of 3.42%. The company had revenue of $210.25 million for the quarter, compared to the consensus estimate of $208.25 million. During the same quarter last year, the business posted $0.55 EPS. Rapid7’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, sell-side analysts expect that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Insider Buying and Selling at Rapid7

In related news, insider Christina Luconi sold 12,551 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $23.12, for a total transaction of $290,179.12. Following the completion of the transaction, the insider directly owned 58,165 shares of the company’s stock, valued at $1,344,774.80. This trade represents a 17.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by company insiders.

Rapid7 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.