Allianz Asset Management GmbH Takes $400,000 Position in Rapid7, Inc. (NASDAQ:RPD)

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 purchased a new position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 15,100 shares of the technology company's stock, valued at approximately $400,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System acquired a new position in shares of Rapid7 during the 1st quarter worth about $29,000. 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 valued at $39,000 after purchasing an additional 1,434 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Rapid7 during the 1st quarter valued at $74,000. Ostrum Asset Management boosted its holdings in shares of Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after purchasing an additional 772 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Rapid7 by 2,069.2% in the 1st quarter. GAMMA Investing LLC now owns 5,488 shares of the technology company's stock worth $145,000 after buying an additional 5,235 shares during the period. Hedge funds and other institutional investors own 95.66% of the company's stock.

Rapid7 Stock Down 0.9%

Shares of NASDAQ:RPD traded down $0.18 during midday trading on Wednesday, reaching $19.99. The company's stock had a trading volume of 289,075 shares, compared to its average volume of 845,470. The firm has a market capitalization of $1.28 billion, a P/E ratio of 51.27 and a beta of 0.96. The firm has a 50 day moving average of $23.08 and a 200-day moving average of $26.81. Rapid7, Inc. has a 12-month low of $19.97 and a 12-month high of $44.48. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 16.87.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The technology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. The firm had revenue of $210.25 million during the quarter, compared to the consensus estimate of $208.25 million. Rapid7 had a return on equity of 2,043.18% and a net margin of 3.42%. The firm's quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. On average, research analysts anticipate that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler decreased their price target on Rapid7 from $35.00 to $30.00 and set a "neutral" rating for the company 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 for the company in a research note on Tuesday, May 13th. Barclays decreased their target price on Rapid7 from $26.00 to $25.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 13th. Morgan Stanley lifted their target price on Rapid7 from $26.00 to $28.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Finally, Wall Street Zen raised Rapid7 from a "hold" rating to a "buy" rating in a report on Sunday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $32.84.

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.