CenterBook Partners LP Purchases 131,761 Shares of Rapid7, Inc. (NASDAQ:RPD)

Key Points

• CenterBook Partners LP increased its holdings in Rapid7, Inc. by 717.5% in the first quarter, acquiring an additional 131,761 shares to hold a total of 150,125 shares valued at approximately $3.98 million.
• Rapid7 reported a quarterly EPS of $0.49, exceeding expectations, with revenue reaching $210.25 million, marking a 2.5% year-over-year increase.
• Analyst ratings for Rapid7 show a mix of outlooks: with one sell rating, thirteen hold ratings, six buy ratings, and a consensus target price of $32.84.

CenterBook Partners LP raised its position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 717.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,125 shares of the technology company's stock after purchasing an additional 131,761 shares during the period. CenterBook Partners LP owned 0.23% of Rapid7 worth $3,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RPD. New York State Teachers Retirement System purchased a new stake in shares of Rapid7 during the 1st quarter worth about $29,000. Versant Capital Management Inc raised its stake in shares of 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 acquiring an additional 1,434 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Rapid7 in the 1st quarter valued at approximately $74,000. Ostrum Asset Management raised its stake in shares of Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock valued at $100,000 after acquiring an additional 772 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of Rapid7 in the 1st quarter valued at approximately $115,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on RPD shares. Wall Street Zen raised Rapid7 from a "hold" rating to a "buy" rating in a research note on Sunday, August 3rd. Raymond James Financial decreased their price objective on Rapid7 from $40.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday. Susquehanna decreased their price objective on Rapid7 from $40.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Jefferies Financial Group set a $27.00 price objective on Rapid7 and gave the stock a "buy" rating in a report on Friday. Finally, Stifel Nicolaus decreased their price objective on Rapid7 from $29.00 to $22.00 and set a "hold" rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $29.22.

Rapid7 Price Performance

Shares of Rapid7 stock traded down $1.94 during midday trading on Friday, hitting $17.88. 2,167,037 shares of the company were exchanged, compared to its average volume of 750,106. The firm has a 50 day simple moving average of $22.87 and a 200-day simple moving average of $26.49. 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 52 week low of $17.83 and a 52 week high of $44.48. The firm has a market cap of $1.15 billion, a P/E ratio of 43.61 and a beta of 0.96.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.14. Rapid7 had a return on equity of 269.59% and a net margin of 3.41%. The firm had revenue of $214.19 million during the quarter, compared to the consensus estimate of $212.17 million. During the same quarter in the previous year, the company posted $0.58 EPS. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts forecast 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.