Nuveen LLC Acquires Shares of 585,077 Rapid7, Inc. $RPD

Key Points

• Nuveen LLC acquired 585,077 shares of Rapid7, Inc. valued at approximately $15.5 million, representing about 0.91% of the company as of the latest reporting period.
• Institutional investors hold 95.66% of Rapid7's stock, indicating significant interest in the technology company among major financial players.
• Analyst ratings for Rapid7 show a mix of expectations; the average target price is $26.89, with one Strong Buy and thirteen Hold ratings reported.

Nuveen LLC acquired a new stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 585,077 shares of the technology company's stock, valued at approximately $15,510,000. Nuveen LLC owned about 0.91% of Rapid7 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System purchased a new position in Rapid7 in the first quarter valued at $29,000. Versant Capital Management Inc raised its position in shares of Rapid7 by 5,311.1% during the 1st quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company's stock worth $39,000 after purchasing an additional 1,434 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Rapid7 during the 1st quarter worth about $74,000. New Age Alpha Advisors LLC acquired a new position in shares of Rapid7 during the 1st quarter worth about $115,000. Finally, GAMMA Investing LLC raised its position in shares of Rapid7 by 2,069.2% during the 1st quarter. GAMMA Investing LLC now owns 5,488 shares of the technology company's stock worth $145,000 after purchasing an additional 5,235 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Rapid7 Trading Down 0.1%

Shares of NASDAQ RPD traded down $0.03 during midday trading on Tuesday, reaching $20.14. 1,044,749 shares of the stock were exchanged, compared to its average volume of 1,013,795. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market capitalization of $1.30 billion, a P/E ratio of 49.12 and a beta of 0.96. The company has a 50 day simple moving average of $22.13 and a 200 day simple moving average of $24.88. Rapid7, Inc. has a twelve month low of $17.83 and a twelve month high of $44.48.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.14. Rapid7 had a net margin of 3.41% and a return on equity of 149.12%. The firm had revenue of $214.19 million during the quarter, compared to analysts' expectations of $212.17 million. During the same quarter last year, the company posted $0.58 EPS. The firm's quarterly revenue was up 3.0% on a year-over-year basis. Rapid7 has set its FY 2025 guidance at 1.900-2.030 EPS. Q3 2025 guidance at 0.440-0.470 EPS. As a group, equities analysts expect that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on RPD shares. Stifel Nicolaus reduced their price target on shares of Rapid7 from $29.00 to $22.00 and set a "hold" rating for the company in a research report on Friday, August 8th. Barclays reduced their price target on shares of Rapid7 from $26.00 to $25.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 13th. Scotiabank reduced their price target on shares of Rapid7 from $29.00 to $20.00 and set a "sector perform" rating for the company in a research report on Monday, August 11th. Citigroup cut their price objective on shares of Rapid7 from $35.00 to $30.00 and set a "buy" rating for the company in a report on Monday, August 18th. Finally, Morgan Stanley boosted their target price on Rapid7 from $26.00 to $28.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $26.89.

Insiders Place Their Bets

In related news, Director Jana Partners Management, Lp purchased 250,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average cost of $21.26 per share, for a total transaction of $5,315,000.00. Following the purchase, the director directly owned 6,518,604 shares of the company's stock, valued at $138,585,521.04. The trade was a 3.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Scott M. Murphy sold 1,370 shares of Rapid7 stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $20.25, for a total transaction of $27,742.50. Following the sale, the chief accounting officer owned 27,592 shares in the company, valued at $558,738. This represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 772,194 shares of company stock worth $15,135,356 over the last 90 days. Company insiders own 2.40% of the company's stock.

About Rapid7

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.