Hsbc Holdings PLC Acquires 30,217 Shares of Rapid7, Inc. $RPD

Key Points

• Hsbc Holdings PLC increased its stake in Rapid7, Inc. by 221.8% during the first quarter, owning 43,840 shares worth approximately $1,146,000 as reported in SEC filings.
• Rapid7 reported earnings of $0.58 per share, surpassing analyst estimates and showing a 3.0% increase in quarterly revenue compared to the previous year.
• Insider trading activity included Director Jana Partners Management purchasing 250,000 shares for approximately $5.3 million, indicating strong insider confidence in the company's prospects.

Hsbc Holdings PLC boosted its position in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 221.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,840 shares of the technology company's stock after purchasing an additional 30,217 shares during the period. Hsbc Holdings PLC owned 0.07% of Rapid7 worth $1,146,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RPD. Principal Financial Group Inc. raised its stake in shares of Rapid7 by 1.1% during the 1st quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company's stock worth $1,456,000 after purchasing 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 bought a new position in Rapid7 during the first quarter valued at approximately $29,000. Versant Capital Management Inc lifted its stake 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 acquiring an additional 1,434 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in 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 in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Rapid7 Stock Performance

Shares of Rapid7 stock traded down $0.58 during trading on Thursday, reaching $19.84. The company's stock had a trading volume of 509,573 shares, compared to its average volume of 940,443. Rapid7, Inc. has a one year low of $17.83 and a one year high of $44.48. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 48.39 and a beta of 0.94. The business's fifty day moving average price is $21.73 and its 200-day moving average price is $24.19.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its 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. 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 company's revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 EPS. 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 predict that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

RPD has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of Rapid7 from $28.00 to $22.00 and set an "equal weight" rating on the stock in a report on Tuesday. Scotiabank lowered their target price on shares of Rapid7 from $29.00 to $20.00 and set a "sector perform" rating on the stock in a research report on Monday, August 11th. Susquehanna reduced their price target on Rapid7 from $30.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Citigroup decreased their price target on Rapid7 from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Finally, JPMorgan Chase & Co. lowered their price objective on Rapid7 from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $26.56.

Insider Buying and Selling at Rapid7

In other Rapid7 news, CAO Scott M. Murphy sold 1,370 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were 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 in the company, valued at $558,738. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jana Partners Management, Lp acquired 250,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were bought at an average price of $21.26 per share, for a total transaction of $5,315,000.00. Following the acquisition, the director owned 6,518,604 shares in the company, valued at approximately $138,585,521.04. This trade represents a 3.99% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 772,194 shares of company stock worth $15,135,356. 2.40% of the stock is currently owned by corporate insiders.

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.