Pacer Advisors Inc. Increases Holdings in Rapid7, Inc. $RPD

Key Points

• Pacer Advisors increased its Rapid7 stake by 24.3% in the first quarter, adding 91,905 shares to hold 469,912 shares worth approximately $2.59 million. Institutional investors collectively owned 95.66% of Rapid7.
• Wall Street sentiment remained cautious: analysts assigned Rapid7 an average “Reduce” rating, with 17 Holds and four Sells and an average price target of $9.03.
• Rapid7 beat quarterly earnings expectations, reporting $0.36 in EPS versus a $0.30 consensus and revenue of $209.69 million, though revenue declined slightly year over year. Shares opened at $11.57, well below the 52-week high of $21.78.

Pacer Advisors Inc. increased its position in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 24.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 469,912 shares of the technology company's stock after purchasing an additional 91,905 shares during the quarter. Pacer Advisors Inc. owned approximately 0.70% of Rapid7 worth $2,589,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of Rapid7 in the 2nd quarter worth $44,000. Sound Income Strategies LLC purchased a new position in shares of Rapid7 during the fourth quarter valued at $40,000. Parallel Advisors LLC increased its stake in shares of Rapid7 by 81.6% during the fourth quarter. Parallel Advisors LLC now owns 3,036 shares of the technology company's stock valued at $46,000 after buying an additional 1,364 shares during the period. KBC Group NV raised its holdings in shares of Rapid7 by 124.0% in the fourth quarter. KBC Group NV now owns 3,310 shares of the technology company's stock valued at $50,000 after acquiring an additional 1,832 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Rapid7 in the fourth quarter valued at about $71,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RPD has been the topic of several recent research reports. Morgan Stanley cut shares of Rapid7 from an "equal weight" rating to an "underweight" rating and set a $9.00 target price on the stock. in a report on Tuesday, July 21st. Piper Sandler lowered their price target on shares of Rapid7 from $10.00 to $8.00 and set a "neutral" rating for the company in a research report on Wednesday, May 6th. Scotiabank lowered their price target on shares of Rapid7 from $9.00 to $7.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 6th. Canaccord Genuity Group dropped their price objective on shares of Rapid7 from $10.00 to $7.00 and set a "hold" rating on the stock in a research note on Wednesday, May 6th. Finally, William Blair lowered shares of Rapid7 from an "outperform" rating to a "market perform" rating in a report on Tuesday, April 28th. Seventeen analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $9.03.

Rapid7 Price Performance

RPD opened at $11.57 on Friday. The firm has a market capitalization of $773.22 million, a PE ratio of 33.06 and a beta of 0.97. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.78 and a quick ratio of 0.78. The business's 50-day moving average is $9.18 and its two-hundred day moving average is $7.99. Rapid7, Inc. has a 1 year low of $4.97 and a 1 year high of $21.78.

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