Acadian Asset Management LLC Trims Stock Holdings in Rapid7, Inc. $RPD

Key Points

• Acadian Asset Management LLC significantly reduced its position in Rapid7, Inc. by 51.7%, selling over 76,000 shares to end the quarter with approximately 71,794 shares valued at about $1.9 million.
• Despite the sell-off by Acadian, other institutional investors such as Teacher Retirement System of Texas and Mirae Asset Global Investments increased their holdings in Rapid7 by 24.1% and 18.5%, respectively.
• Analyst ratings for Rapid7 show a mixed outlook, with a consensus rating of "Hold" and an average price target of $26.56, while several firms recently downgraded their price targets.

Acadian Asset Management LLC lowered its position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 51.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,794 shares of the technology company's stock after selling 76,876 shares during the quarter. Acadian Asset Management LLC owned about 0.11% of Rapid7 worth $1,899,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RPD. Teacher Retirement System of Texas lifted its holdings in shares of Rapid7 by 24.1% during the first quarter. Teacher Retirement System of Texas now owns 54,091 shares of the technology company's stock valued at $1,434,000 after purchasing an additional 10,487 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Rapid7 by 18.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,548 shares of the technology company's stock valued at $291,000 after buying an additional 1,648 shares in the last quarter. New York State Teachers Retirement System bought a new stake in Rapid7 in the first quarter worth $29,000. Principal Financial Group Inc. increased its holdings in shares of Rapid7 by 1.1% during the first quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company's stock valued at $1,456,000 after acquiring an additional 609 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Rapid7 by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 17,434 shares of the technology company's stock worth $701,000 after purchasing an additional 5,736 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on RPD shares. Wall Street Zen raised shares of Rapid7 from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd. Scotiabank decreased their price objective on shares of Rapid7 from $29.00 to $20.00 and set a "sector perform" rating for the company in a report on Monday, August 11th. Stifel Nicolaus cut their target price on Rapid7 from $29.00 to $22.00 and set a "hold" rating on the stock in a research note on Friday, August 8th. Mizuho reduced their target price on Rapid7 from $27.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, August 8th. Finally, Canaccord Genuity Group lowered their price target on Rapid7 from $39.00 to $32.00 and set a "hold" rating on the stock in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Rapid7 has a consensus rating of "Hold" and an average price target of $26.56.

Insider Activity at Rapid7

In other Rapid7 news, Director Jana Partners Management, Lp purchased 358,738 shares of Rapid7 stock in a transaction that occurred on Monday, August 11th. The shares were bought at an average price of $18.23 per share, for a total transaction of $6,539,793.74. Following the completion of the transaction, the director owned 6,105,148 shares of the company's stock, valued at approximately $111,296,848.04. This trade represents a 6.24% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Scott M. Murphy sold 1,370 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $20.25, for a total transaction of $27,742.50. Following the completion of the sale, the chief accounting officer owned 27,592 shares in the company, valued at approximately $558,738. This trade represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired a total of 772,194 shares of company stock valued at $15,135,356 in the last 90 days. 2.40% of the stock is currently owned by company insiders.

Rapid7 Trading Up 1.0%

Shares of RPD opened at $19.63 on Wednesday. The firm has a market cap of $1.27 billion, a P/E ratio of 47.88 and a beta of 0.94. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.36 and a quick ratio of 1.36. Rapid7, Inc. has a 1 year low of $17.83 and a 1 year high of $44.48. The company has a 50 day simple moving average of $21.10 and a two-hundred day simple moving average of $23.50.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.14. Rapid7 had a net margin of 3.41% and a return on equity of 149.12%. The company had revenue of $214.19 million during the quarter, compared to analysts' expectations of $212.17 million. During the same period last year, the company posted $0.58 earnings per share. Rapid7'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. On average, equities analysts expect that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

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.

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