Rapid7, Inc. $RPD Shares Sold by Harbor Capital Advisors Inc.

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. lessened its holdings in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 9.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in RPD. Teacher Retirement System of Texas lifted its position in shares of Rapid7 by 24.1% during the 1st quarter. Teacher Retirement System of Texas now owns 54,091 shares of the technology company's stock valued at $1,434,000 after buying an additional 10,487 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Rapid7 by 18.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,548 shares of the technology company's stock worth $291,000 after acquiring an additional 1,648 shares during the period. New York State Teachers Retirement System bought a new stake in shares of Rapid7 during the 1st quarter valued at $29,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Rapid7 by 112.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,286,300 shares of the technology company's stock valued at $60,610,000 after buying an additional 1,209,856 shares during the period. Finally, Principal Financial Group Inc. grew its stake 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. 95.66% of the stock is currently owned by institutional investors.

Rapid7 Trading Up 0.5%

Shares of Rapid7 stock traded up $0.11 on Friday, reaching $20.29. The company had a trading volume of 3,507,329 shares, compared to its average volume of 718,770. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 49.49 and a beta of 0.94. 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 firm's 50-day moving average price is $20.85 and its two-hundred day moving average price is $23.36. 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 announced its earnings results on Thursday, August 7th. The technology company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.14. The business had revenue of $214.19 million for the quarter, compared to the consensus estimate of $212.17 million. Rapid7 had a net margin of 3.41% and a return on equity of 149.12%. The business's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm 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, research analysts predict that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Insider Activity at Rapid7

In other Rapid7 news, CAO Scott M. Murphy sold 1,370 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $20.25, for a total transaction of $27,742.50. Following the sale, the chief accounting officer owned 27,592 shares of the company's stock, valued at approximately $558,738. This trade represents a 4.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jana Partners Management, Lp bought 250,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average price of $21.26 per share, for a total transaction of $5,315,000.00. Following the completion of the purchase, the director owned 6,518,604 shares in the company, valued at $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 have bought 772,194 shares of company stock valued at $15,135,356 in the last ninety days. Insiders own 2.40% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RPD. Zacks Research lowered shares of Rapid7 from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. decreased their target price on shares of Rapid7 from $28.00 to $23.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. UBS Group decreased their target price on shares of Rapid7 from $39.00 to $34.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Mizuho reduced their price target on shares of Rapid7 from $27.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Finally, Stifel Nicolaus lowered their price target on Rapid7 from $29.00 to $22.00 and set a "hold" 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 issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Rapid7 currently has an average rating of "Hold" and a consensus target price of $26.56.

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.