Point72 Hong Kong Ltd Increases Stock Holdings in Rapid7, Inc. (NASDAQ:RPD)

Point72 Hong Kong Ltd increased its stake in Rapid7, Inc. (NASDAQ:RPD) by 315.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,075 shares of the technology company’s stock after acquiring an additional 1,575 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Rapid7 were worth $90,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in RPD. Quest Partners LLC purchased a new stake in shares of Rapid7 during the second quarter worth about $35,000. Fidelis Capital Partners LLC acquired a new stake in Rapid7 in the 1st quarter worth about $36,000. Mather Group LLC. purchased a new stake in Rapid7 during the 1st quarter worth approximately $42,000. Summit Securities Group LLC acquired a new position in shares of Rapid7 during the second quarter valued at approximately $43,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Rapid7 in the second quarter valued at approximately $72,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Stock Up 1.0 %

Shares of Rapid7 stock opened at $37.36 on Friday. The firm has a market cap of $2.34 billion, a PE ratio of -18.22 and a beta of 0.96. Rapid7, Inc. has a 52 week low of $32.94 and a 52 week high of $61.88. The business’s fifty day simple moving average is $36.61 and its 200-day simple moving average is $40.62.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The company had revenue of $207.99 million for the quarter, compared to analysts’ expectations of $204.04 million. During the same quarter in the prior year, the company posted ($0.33) earnings per share. Rapid7’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities analysts expect that Rapid7, Inc. will post 0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RPD shares. Morgan Stanley reiterated an “equal weight” rating and set a $46.00 price target on shares of Rapid7 in a research report on Wednesday, July 10th. KeyCorp upgraded shares of Rapid7 to a “hold” rating in a research report on Monday, June 17th. UBS Group decreased their price target on shares of Rapid7 from $65.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and dropped their price objective for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. Finally, Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and decreased their target price for the stock from $52.00 to $43.00 in a research note on Wednesday, August 7th. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.13.

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.