Harbor Capital Advisors Inc. Trims Stake in Rapid7, Inc. $RPD

Key Points

• Harbor Capital Advisors Inc. reduced its stake in Rapid7, Inc. by 9.1% in the second quarter, now owning 296,614 shares valued at approximately $6.86 million.
• Wall Street analysts have adjusted price targets for Rapid7, with Canaccord Genuity lowering theirs from $39.00 to $32.00, while UBS Group set a new price target of $34.00, indicating a range of buy to hold ratings.
• Rapid7 reported a quarterly EPS of $0.58, exceeding analyst expectations, alongside a revenue of $214.19 million, reflecting a year-over-year growth of 3.0%.

Harbor Capital Advisors Inc. reduced its stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 9.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 296,614 shares of the technology company's stock after selling 29,840 shares during the quarter. Harbor Capital Advisors Inc. owned 0.46% of Rapid7 worth $6,861,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in Rapid7 by 1.1% during the first quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company's stock valued at $1,456,000 after acquiring an additional 609 shares in the last quarter. Y.D. More Investments Ltd raised its position in Rapid7 by 12.0% during the first quarter. Y.D. More Investments Ltd now owns 5,839 shares of the technology company's stock valued at $171,000 after acquiring an additional 625 shares in the last quarter. New York State Teachers Retirement System purchased a new position in Rapid7 during the first quarter valued at approximately $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Rapid7 during the first quarter valued at approximately $38,000. Finally, Versant Capital Management Inc raised its position in Rapid7 by 5,311.1% during the first 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. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RPD has been the subject of several recent research reports. Canaccord Genuity Group reduced their price target on Rapid7 from $39.00 to $32.00 and set a "hold" rating for the company in a research report on Monday, August 11th. Jefferies Financial Group set a $27.00 price target on Rapid7 and gave the company a "buy" rating in a research report on Friday, August 8th. Scotiabank dropped their price objective on Rapid7 from $29.00 to $20.00 and set a "sector perform" rating on the stock in a report on Monday, August 11th. UBS Group dropped their price objective on Rapid7 from $39.00 to $34.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, Mizuho dropped their price objective on Rapid7 from $27.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $26.56.

Rapid7 Stock Performance

Shares of NASDAQ:RPD opened at $19.44 on Tuesday. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.36 and a quick ratio of 1.36. The business's 50 day moving average price is $21.20 and its 200-day moving average price is $23.52. The firm has a market capitalization of $1.26 billion, a PE ratio of 47.42 and a beta of 0.94. Rapid7, Inc. has a 1 year low of $17.83 and a 1 year high of $44.48.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.14. The firm had revenue of $214.19 million for the quarter, compared to analyst estimates of $212.17 million. Rapid7 had a return on equity of 149.12% and a net margin of 3.41%.The business's revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 earnings per share. Rapid7 has set its FY 2025 guidance at 1.900-2.030 EPS. Q3 2025 guidance at 0.440-0.470 EPS. As a group, equities research analysts expect that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Scott M. Murphy sold 1,370 shares of Rapid7 stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $20.25, for a total value of $27,742.50. Following the sale, the chief accounting officer directly owned 27,592 shares of the company's stock, valued at $558,738. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jana Partners Management, Lp purchased 250,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average cost of $21.26 per share, for a total transaction of $5,315,000.00. Following the completion of the purchase, the director directly owned 6,518,604 shares of the company's stock, valued at approximately $138,585,521.04. The trade was a 3.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 772,194 shares of company stock worth $15,135,356 over the last ninety days. Corporate insiders own 2.40% of the company's stock.

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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