15,100 Shares in Rapid7, Inc. (NASDAQ:RPD) Acquired by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH has invested approximately $400,000 in Rapid7, Inc., purchasing 15,100 shares of the company during the first quarter.
• Rapid7 reported earnings of $0.49 EPS, exceeding analysts' expectations, with a revenue of $210.25 million, marking a 2.5% year-over-year increase.
• Multiple analysts have downgraded their target prices for Rapid7, with the consensus rating now at "Hold" and a target price of $33.16.

Allianz Asset Management GmbH acquired a new stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 15,100 shares of the technology company's stock, valued at approximately $400,000.

Other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas increased its stake in Rapid7 by 24.1% in 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 acquiring an additional 10,487 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Rapid7 by 18.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,548 shares of the technology company's stock worth $291,000 after acquiring an additional 1,648 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of Rapid7 in the first quarter valued at about $29,000. Invesco Ltd. increased its holdings in shares of Rapid7 by 5.4% during the fourth quarter. Invesco Ltd. now owns 36,487 shares of the technology company's stock worth $1,468,000 after purchasing an additional 1,860 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Rapid7 by 1.1% in the first quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company's stock worth $1,456,000 after purchasing an additional 609 shares during the period. 95.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RPD. Robert W. Baird lifted their price target on Rapid7 from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Stifel Nicolaus decreased their target price on Rapid7 from $38.00 to $29.00 and set a "hold" rating on the stock in a research report on Tuesday, May 13th. DA Davidson reiterated an "underperform" rating and issued a $21.00 target price (down previously from $29.00) on shares of Rapid7 in a research report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price target on shares of Rapid7 from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Mizuho decreased their target price on shares of Rapid7 from $30.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $32.84.

Rapid7 Stock Up 1.9%

Shares of RPD stock traded up $0.38 on Monday, reaching $20.74. 573,682 shares of the company were exchanged, compared to its average volume of 848,420. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 53.18 and a beta of 0.96. The company has a 50-day moving average of $23.19 and a 200-day moving average of $26.99. The company has a debt-to-equity ratio of 16.87, a current ratio of 1.24 and a quick ratio of 1.24. Rapid7, Inc. has a one year low of $20.22 and a one year high of $44.48.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.12. Rapid7 had a return on equity of 2,043.18% and a net margin of 3.42%. The company had revenue of $210.25 million for the quarter, compared to analysts' expectations of $208.25 million. During the same period last year, the business earned $0.55 EPS. Rapid7's quarterly revenue was up 2.5% compared to the same quarter last year. Analysts anticipate that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Rapid7 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.