Deutsche Bank AG Decreases Stake in Rapid7, Inc. (NASDAQ:RPD)

Key Points

• Deutsche Bank AG reduced its stake in Rapid7, Inc. by 79.5% in Q1, now owning approximately 303,567 shares worth $8,048,000.
• Rapid7's recent earnings showed $0.58 EPS, exceeding analysts' estimates of $0.44, and experiencing a 3.0% revenue increase year-over-year.
• Several large investors, including New York State Teachers Retirement System and Versant Capital Management, have recently altered their holdings in Rapid7, indicating significant interest from institutional investors who own 95.66% of the company's stock.

Deutsche Bank AG lowered its position in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 79.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 303,567 shares of the technology company's stock after selling 1,173,900 shares during the quarter. Deutsche Bank AG owned about 0.47% of Rapid7 worth $8,048,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. New York State Teachers Retirement System purchased a new stake in Rapid7 in the 1st quarter worth about $29,000. Versant Capital Management Inc grew its position in shares of Rapid7 by 5,311.1% in the first 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 purchased a new position in shares of Rapid7 in the first quarter valued at $74,000. Ostrum Asset Management grew its position in shares of Rapid7 by 45.3% in the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock valued at $100,000 after purchasing an additional 772 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Rapid7 in the first quarter valued at $115,000. Hedge funds and other institutional investors own 95.66% of the company's stock.

Rapid7 Trading Up 1.6%

NASDAQ RPD opened at $21.27 on Friday. Rapid7, Inc. has a 1-year low of $17.83 and a 1-year high of $44.48. The company has a current ratio of 1.36, a quick ratio of 1.24 and a debt-to-equity ratio of 9.84. The stock has a 50-day moving average of $22.57 and a 200-day moving average of $25.85. The firm has a market cap of $1.38 billion, a PE ratio of 51.88 and a beta of 0.96.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.14. Rapid7 had a return on equity of 149.12% and a net margin of 3.41%. The company had revenue of $214.19 million for the quarter, compared to the consensus estimate of $212.17 million. During the same quarter in the previous year, the business earned $0.58 EPS. Rapid7's revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current year.

Insider Activity

In other Rapid7 news, Director Jana Partners Management, Lp bought 358,738 shares of Rapid7 stock in a transaction dated Monday, August 11th. The shares were purchased at an average cost of $18.23 per share, with a total value of $6,539,793.74. Following the completion of the purchase, the director owned 6,105,148 shares of the company's stock, valued at approximately $111,296,848.04. This represents a 6.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 772,194 shares of company stock worth $15,135,356 over the last 90 days. 2.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

RPD has been the subject of several recent research reports. Wall Street Zen upgraded Rapid7 from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. Barclays dropped their price objective 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. Canaccord Genuity Group dropped their price objective on Rapid7 from $39.00 to $32.00 and set a "hold" rating for the company in a research note on Monday, August 11th. Mizuho dropped their price objective on Rapid7 from $27.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. Finally, DA Davidson reissued an "underperform" rating and set a $21.00 price objective (down previously from $29.00) on shares of Rapid7 in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Rapid7 presently has an average rating of "Hold" and a consensus target price of $27.67.

About Rapid7

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.

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