Hsbc Holdings PLC Has $191,000 Position in Rapid7, Inc. $RPD

Key Points

• Hsbc Holdings PLC cut its Rapid7 position by 78.5% in the first quarter, selling 125,365 shares and retaining 34,323 shares worth approximately $191,000. Institutional investors and hedge funds collectively own 95.66% of Rapid7.
• Analyst sentiment remains cautious: Rapid7 has an average rating of “Reduce”, with one Buy, 17 Holds, and four Sells. The average price target is $9.03, below the stock’s reported $10.18 opening price.
• Rapid7 exceeded quarterly earnings expectations, reporting $0.36 in EPS versus a $0.30 consensus estimate and revenue of $209.69 million. However, revenue declined 0.3% year over year, and analysts expect full-year EPS of $0.63.

Hsbc Holdings PLC cut its position in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 78.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,323 shares of the technology company's stock after selling 125,365 shares during the quarter. Hsbc Holdings PLC owned 0.05% of Rapid7 worth $191,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new stake in Rapid7 during the 1st quarter worth approximately $1,048,000. SG Americas Securities LLC increased its position in Rapid7 by 32.4% in the 1st quarter. SG Americas Securities LLC now owns 817,649 shares of the technology company's stock valued at $4,505,000 after acquiring an additional 200,033 shares during the period. Circumference Group LLC bought a new position in shares of Rapid7 during the fourth quarter valued at $3,800,000. Vanguard Group Inc. raised its stake in shares of Rapid7 by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 9,273,763 shares of the technology company's stock valued at $140,961,000 after acquiring an additional 653,498 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Rapid7 by 25.1% during the fourth quarter. LSV Asset Management now owns 982,397 shares of the technology company's stock worth $14,932,000 after purchasing an additional 197,397 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. William Blair cut shares of Rapid7 from an "outperform" rating to a "market perform" rating in a research note on Tuesday, April 28th. Piper Sandler cut their target price on Rapid7 from $10.00 to $8.00 and set a "neutral" rating on the stock in a report on Wednesday, May 6th. Weiss Ratings reiterated a "sell (d)" rating on shares of Rapid7 in a research report on Wednesday, June 24th. JPMorgan Chase & Co. decreased their price target on Rapid7 from $11.00 to $7.00 and set a "neutral" rating for the company in a research note on Monday, May 11th. Finally, Truist Financial raised their price objective on Rapid7 from $6.00 to $10.00 and gave the stock a "hold" rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $9.03.

Rapid7 Price Performance

RPD stock opened at $10.18 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.69. The firm has a market cap of $680.33 million, a price-to-earnings ratio of 29.09 and a beta of 0.97. The company's fifty day simple moving average is $8.91 and its 200 day simple moving average is $8.02. Rapid7, Inc. has a 12-month low of $4.97 and a 12-month high of $21.78.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.06. Rapid7 had a return on equity of 34.35% and a net margin of 2.61%.The firm had revenue of $209.69 million during the quarter, compared to the consensus estimate of $207.94 million. During the same period last year, the business posted $0.49 EPS. The business's revenue was down .3% compared to the same quarter last year. On average, analysts expect that Rapid7, Inc. will post 0.63 earnings per share for the current year.

Rapid7 Profile

Rapid7, Inc is a publicly traded cybersecurity company headquartered in Boston, Massachusetts. Since its founding in 2000, the company has specialized in delivering cloud-based security data and analytics solutions designed to help organizations detect, investigate, and remediate cyber threats. Rapid7 operates under the NASDAQ symbol “RPD” and serves a broad range of industries, including technology, financial services, healthcare, retail, and the public sector.

The core of Rapid7's offering is its Insight platform, a unified, cloud-native security operations and analytics suite.

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