Point72 DIFC Ltd Buys 13,296 Shares of Rapid7, Inc. (NASDAQ:RPD)

Point72 DIFC Ltd boosted its position in Rapid7, Inc. (NASDAQ:RPD) by 337.5% in the second quarter, Holdings Channel.com reports. The firm owned 17,235 shares of the technology company’s stock after buying an additional 13,296 shares during the quarter. Point72 DIFC Ltd’s holdings in Rapid7 were worth $745,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RPD. Price T Rowe Associates Inc. MD increased its holdings in shares of Rapid7 by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock worth $24,691,000 after purchasing an additional 18,907 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Rapid7 by 7,688.6% in the second quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock worth $7,141,000 after acquiring an additional 163,075 shares during the period. First Trust Advisors LP increased its position in Rapid7 by 49.2% during the fourth quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock valued at $194,668,000 after acquiring an additional 1,124,429 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Rapid7 by 453.9% in the first quarter. Principal Financial Group Inc. now owns 38,764 shares of the technology company’s stock valued at $1,901,000 after acquiring an additional 31,766 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new position in Rapid7 in the first quarter worth about $3,808,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on RPD. UBS Group reduced their target price on shares of Rapid7 from $65.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. KeyCorp raised shares of Rapid7 to a “hold” rating in a report on Monday, June 17th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and cut their target price for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Finally, Royal Bank of Canada lowered shares of Rapid7 from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $50.00 to $40.00 in a research note on Friday, September 20th. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Rapid7 currently has an average rating of “Hold” and a consensus target price of $46.13.

Rapid7 Stock Performance

RPD opened at $35.50 on Thursday. Rapid7, Inc. has a one year low of $32.94 and a one year high of $61.88. The business’s fifty day moving average is $36.73 and its two-hundred day moving average is $40.76. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -17.32 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.52 by $0.06. The company had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.33) earnings per share. On average, analysts predict that Rapid7, Inc. will post 0.8 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.