Acadian Asset Management LLC Has $1.90 Million Stake 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 trimmed its position in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 51.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,794 shares of the technology company's stock after selling 76,876 shares during the period. Acadian Asset Management LLC owned approximately 0.11% of Rapid7 worth $1,899,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System bought a new stake in shares of Rapid7 during the first quarter worth about $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Rapid7 during the 1st quarter valued at about $38,000. Versant Capital Management Inc increased its stake in Rapid7 by 5,311.1% in 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 period. DekaBank Deutsche Girozentrale bought a new stake in shares of Rapid7 in the 1st quarter worth approximately $74,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Rapid7 during the first quarter valued at approximately $115,000. 95.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RPD. Royal Bank Of Canada dropped their price objective on Rapid7 from $27.00 to $23.00 and set a "sector perform" rating for the company in a research note on Friday, August 8th. Citigroup cut their price objective on Rapid7 from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Zacks Research cut Rapid7 from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. dropped their target price on Rapid7 from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Finally, Scotiabank dropped their target price 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. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $26.56.

Insider Buying and Selling at Rapid7

In other news, 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 directly owned 27,592 shares in the company, valued at $558,738. The trade was a 4.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jana Partners Management, Lp purchased 358,738 shares of the company's stock in a transaction dated Monday, August 11th. The shares were acquired at an average price of $18.23 per share, with a total value of $6,539,793.74. Following the transaction, the director owned 6,105,148 shares in the company, valued at approximately $111,296,848.04. The trade was a 6.24% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 772,194 shares of company stock worth $15,135,356. Company insiders own 2.40% of the company's stock.

Rapid7 Trading Up 0.5%

Rapid7 stock traded up $0.11 during midday trading on Friday, hitting $20.29. 3,507,329 shares of the stock were exchanged, compared to its average volume of 718,770. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 9.84. Rapid7, Inc. has a 52 week low of $17.83 and a 52 week high of $44.48. The company has a fifty day simple moving average of $20.85 and a two-hundred day simple moving average of $23.36. The stock has a market capitalization of $1.31 billion, a PE ratio of 49.49 and a beta of 0.94.

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