Harbor Capital Advisors Inc. Boosts Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Harbor Capital Advisors Inc. increased its stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 326,454 shares of the technology company's stock after acquiring an additional 37,489 shares during the period. Harbor Capital Advisors Inc. owned about 0.51% of Rapid7 worth $8,654,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ grew its holdings in Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock valued at $46,000 after purchasing an additional 455 shares during the period. Versant Capital Management Inc grew its holdings in 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 during the period. Ostrum Asset Management grew its holdings in 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 during the period. One68 Global Capital LLC acquired a new stake in Rapid7 in the fourth quarter valued at approximately $201,000. Finally, GAMMA Investing LLC grew its holdings in Rapid7 by 2,069.2% in the first quarter. GAMMA Investing LLC now owns 5,488 shares of the technology company's stock valued at $145,000 after purchasing an additional 5,235 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rapid7

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of Rapid7 stock in a transaction on Monday, April 7th. The stock was sold at an average price of $23.12, for a total value of $290,179.12. Following the sale, the insider now owns 58,165 shares in the company, valued at $1,344,774.80. The trade was a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.60% of the company's stock.

Rapid7 Price Performance

Rapid7 stock traded down $0.33 during trading on Wednesday, reaching $24.01. 720,129 shares of the company were exchanged, compared to its average volume of 836,103. Rapid7, Inc. has a 52-week low of $21.61 and a 52-week high of $44.48. The company has a market capitalization of $1.54 billion, a P/E ratio of 61.56 and a beta of 1.02. The stock's 50 day simple moving average is $23.59 and its two-hundred day simple moving average is $31.66.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The technology company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.12. Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. The firm had revenue of $210.25 million for the quarter, compared to the consensus estimate of $208.25 million. During the same quarter last year, the business posted $0.55 earnings per share. The firm's revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts forecast that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RPD has been the topic of several research analyst reports. Truist Financial dropped their price objective on Rapid7 from $38.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, February 13th. Jefferies Financial Group dropped their price objective on Rapid7 from $45.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Raymond James dropped their price objective on Rapid7 from $45.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Piper Sandler dropped their price objective on Rapid7 from $35.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating on shares of Rapid7 in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $33.32.

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.