Amundi Has $863,000 Position in Rapid7, Inc. $RPD

Key Points

• Amundi cut its Rapid7 stake by 95.3% in the first quarter, selling 3.2 million shares and retaining 156,708 shares worth approximately $863,000.
• Other institutional investors, including Quantinno Capital Management and Renaissance Technologies, significantly increased their positions, while institutions and hedge funds collectively own 95.66% of Rapid7.
• Rapid7 shares opened at $11.57, above the analyst consensus price target of $9.03. Analysts maintain a cautious outlook, with a consensus “Reduce” rating based on 17 Holds and four Sells.

Amundi lessened its holdings in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 95.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 156,708 shares of the technology company's stock after selling 3,203,468 shares during the quarter. Amundi owned approximately 0.23% of Rapid7 worth $863,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RPD. Quantinno Capital Management LP lifted its stake in shares of Rapid7 by 776.1% in the 1st quarter. Quantinno Capital Management LP now owns 260,359 shares of the technology company's stock valued at $1,435,000 after purchasing an additional 230,641 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Rapid7 by 535.0% in the first quarter. Renaissance Technologies LLC now owns 149,196 shares of the technology company's stock worth $822,000 after buying an additional 125,700 shares during the last quarter. Gabelli Funds LLC acquired a new stake in shares of Rapid7 in the first quarter worth about $73,000. Pale Fire Capital SE bought a new stake in shares of Rapid7 during the 1st quarter worth about $437,000. Finally, Capula Management Ltd bought a new stake in shares of Rapid7 during the 1st quarter worth about $73,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Stock Performance

Shares of RPD stock opened at $11.57 on Monday. Rapid7, Inc. has a 1 year low of $4.97 and a 1 year high of $21.78. The firm's fifty day simple moving average is $9.18 and its 200 day simple moving average is $7.96. The firm has a market capitalization of $773.22 million, a P/E ratio of 33.06 and a beta of 0.97. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.69.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RPD. Robert W. Baird set a $8.00 price objective on Rapid7 in a research note on Wednesday, May 6th. Barclays lowered their price target on Rapid7 from $8.00 to $6.50 and set an "underweight" rating on the stock in a report on Thursday, May 7th. Weiss Ratings reissued a "sell (d)" rating on shares of Rapid7 in a research report on Wednesday, June 24th. DA Davidson boosted their price objective on shares of Rapid7 from $5.25 to $6.50 and gave the stock an "underperform" rating in a research note on Tuesday, June 2nd. Finally, Truist Financial upped their price objective on shares of Rapid7 from $6.00 to $10.00 and gave the stock a "hold" rating in a report on Tuesday, July 21st. Seventeen research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $9.03.

About Rapid7

Rapid7, Inc is a publicly traded cybersecurity company headquartered in Boston, Massachusetts. Since its founding in 2000, the company has specialized in delivering cloud-based security data and analytics solutions designed to help organizations detect, investigate, and remediate cyber threats. Rapid7 operates under the NASDAQ symbol “RPD” and serves a broad range of industries, including technology, financial services, healthcare, retail, and the public sector.

The core of Rapid7's offering is its Insight platform, a unified, cloud-native security operations and analytics suite.

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