Bank of America Corp DE Makes New $6.86 Million Investment in Rapid7, Inc. $RPD

Key Points

• Bank of America purchased 846,980 Rapid7 shares worth approximately $6.86 million, giving it a 1.26% stake. Institutional investors collectively own 95.66% of the company.
• Analysts remain cautious despite raised price targets: Rapid7 has an average “Reduce” rating, with 17 Hold, five Sell, and one Buy rating and an average target price of $11.98.
• Rapid7 exceeded quarterly earnings and revenue estimates, reporting $0.44 EPS and $210.88 million in revenue, although revenue declined 1.5% year over year.

Bank of America Corp DE bought a new stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 846,980 shares of the technology company's stock, valued at approximately $6,861,000. Bank of America Corp DE owned about 1.26% of Rapid7 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Rapid7 by 20.6% during the second quarter. GAMMA Investing LLC now owns 5,866 shares of the technology company's stock worth $48,000 after buying an additional 1,000 shares during the last quarter. Versant Capital Management Inc boosted its stake in Rapid7 by 13.4% in the second quarter. Versant Capital Management Inc now owns 10,469 shares of the technology company's stock valued at $85,000 after acquiring an additional 1,238 shares during the last quarter. State of Wyoming grew its position in shares of Rapid7 by 14.1% during the 4th quarter. State of Wyoming now owns 25,805 shares of the technology company's stock valued at $392,000 after acquiring an additional 3,196 shares during the period. Parallel Advisors LLC grew its position in shares of Rapid7 by 108.8% during the 1st quarter. Parallel Advisors LLC now owns 6,340 shares of the technology company's stock valued at $35,000 after acquiring an additional 3,304 shares during the period. Finally, Diversified Trust Co increased its stake in shares of Rapid7 by 19.1% during the 1st quarter. Diversified Trust Co now owns 27,463 shares of the technology company's stock worth $151,000 after purchasing an additional 4,398 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RPD. Canaccord Genuity Group upped their price objective on Rapid7 from $7.00 to $14.00 and gave the company a "hold" rating in a research note on Tuesday, August 11th. Robert W. Baird raised their target price on Rapid7 from $8.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Royal Bank Of Canada boosted their target price on Rapid7 from $11.00 to $12.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 11th. UBS Group upped their price target on Rapid7 from $7.00 to $12.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Finally, Susquehanna increased their price target on Rapid7 from $7.00 to $15.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Rapid7 has an average rating of "Reduce" and an average price target of $11.98.

Rapid7 Price Performance

RPD opened at $11.62 on Monday. Rapid7, Inc. has a 12 month low of $4.97 and a 12 month high of $20.17. The company has a market cap of $783.19 million, a PE ratio of 37.48 and a beta of 1.01. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.50. The company has a 50 day moving average of $11.55 and a 200 day moving average of $8.72.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its earnings results on Monday, August 10th. The technology company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.09. Rapid7 had a return on equity of 27.89% and a net margin of 2.35%.The firm had revenue of $210.88 million for the quarter, compared to the consensus estimate of $208.23 million. During the same quarter in the prior year, the business posted $0.58 earnings per share. The business's quarterly revenue was down 1.5% on a year-over-year basis. Rapid7 has set its Q3 2026 guidance at 0.440-0.470 EPS. On average, sell-side analysts expect that Rapid7, Inc. will post 0.76 EPS for the current year.

Rapid7 Company Profile

Rapid7, Inc NASDAQ: RPD is a cybersecurity company that helps organizations identify, assess and manage security risks across their IT environments. Its offerings are designed to provide visibility into vulnerabilities, endpoints, users, applications, cloud infrastructure and other technology assets, enabling customers to prioritize threats and respond to security incidents.

The company delivers many of its products through the Rapid7 Insight platform. Key offerings include InsightVM for vulnerability risk management, InsightIDR for security information and event detection and response, InsightCloudSec for cloud security and risk management, and InsightConnect for security orchestration and automation.

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