Bank of New York Mellon Corp Acquires Shares of 474,602 Rapid7, Inc. $RPD

Key Points

• Bank of New York Mellon acquired 474,602 Rapid7 shares worth approximately $3.84 million, giving it a 0.71% stake. Institutional investors and hedge funds collectively own 95.66% of the company.
• Rapid7 exceeded quarterly expectations, reporting $0.44 in adjusted EPS versus the $0.35 consensus and $210.88 million in revenue, although revenue declined 1.5% year over year.
• Analyst sentiment remains mixed: the stock has an average “Reduce” rating and an average price target of $11.98, while shares recently traded near $11.00.

Bank of New York Mellon Corp bought a new position in Rapid7, Inc. (NASDAQ:RPD - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 474,602 shares of the technology company's stock, valued at approximately $3,844,000. Bank of New York Mellon Corp owned 0.71% of Rapid7 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in RPD. Parallel Advisors LLC grew its position in Rapid7 by 108.8% during the 1st quarter. Parallel Advisors LLC now owns 6,340 shares of the technology company's stock worth $35,000 after purchasing an additional 3,304 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Rapid7 in the second quarter valued at $44,000. GAMMA Investing LLC lifted its holdings in shares of Rapid7 by 20.6% in the second quarter. GAMMA Investing LLC now owns 5,866 shares of the technology company's stock valued at $48,000 after purchasing an additional 1,000 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Rapid7 in the fourth quarter worth $71,000. Finally, Capula Management Ltd acquired a new stake in shares of Rapid7 in the first quarter worth $73,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Rapid7 Price Performance

Shares of NASDAQ:RPD opened at $11.00 on Friday. The firm has a market cap of $741.40 million, a price-to-earnings ratio of 35.48 and a beta of 1.01. Rapid7, Inc. has a 1 year low of $4.97 and a 1 year high of $20.95. 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 business has a fifty day simple moving average of $11.21 and a 200 day simple moving average of $8.16.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its earnings results on Monday, August 10th. The technology company reported $0.44 EPS for the quarter, beating analysts' consensus estimates 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 previous year, the company posted $0.58 earnings per share. The business's quarterly revenue was down 1.5% compared to the same quarter last year. Rapid7 has set its Q3 2026 guidance at 0.440-0.470 EPS. As a group, sell-side analysts predict that Rapid7, Inc. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RPD shares. Stephens reiterated a "positive" rating on shares of Rapid7 in a report on Tuesday, August 11th. Royal Bank Of Canada raised their price objective on Rapid7 from $11.00 to $12.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 11th. Piper Sandler raised their price objective on Rapid7 from $8.00 to $12.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Raymond James Financial reaffirmed an "outperform" rating and set a $15.00 target price on shares of Rapid7 in a research note on Tuesday, August 11th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Rapid7 in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $11.98.

Rapid7 Company Profile

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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