Penserra Capital Management LLC Boosts Holdings in Rapid7, Inc. (NASDAQ:RPD)

Penserra Capital Management LLC grew its stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 95.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,880,084 shares of the technology company's stock after buying an additional 919,955 shares during the quarter. Rapid7 makes up 0.9% of Penserra Capital Management LLC's holdings, making the stock its 21st biggest holding. Penserra Capital Management LLC owned approximately 2.94% of Rapid7 worth $49,841,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Rapid7 by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company's stock valued at $346,721,000 after purchasing an additional 60,095 shares during the period. JANA Partners Management LP raised its holdings in shares of Rapid7 by 0.9% during the fourth quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company's stock valued at $148,454,000 after purchasing an additional 34,589 shares during the period. Shapiro Capital Management LLC raised its holdings in shares of Rapid7 by 295.9% during the fourth quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company's stock valued at $51,935,000 after purchasing an additional 964,899 shares during the period. First Trust Advisors LP raised its holdings in shares of Rapid7 by 6.8% during the fourth quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company's stock valued at $50,518,000 after purchasing an additional 79,836 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Rapid7 by 17.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 919,434 shares of the technology company's stock valued at $36,993,000 after purchasing an additional 133,967 shares during the period. Institutional investors own 95.66% of the company's stock.

Rapid7 Trading Up 1.9%

Shares of RPD stock traded up $0.45 on Tuesday, hitting $24.34. 291,047 shares of the company's stock traded hands, compared to its average volume of 800,530. The company has a debt-to-equity ratio of 16.87, a quick ratio of 1.24 and a current ratio of 1.24. Rapid7, Inc. has a one year low of $21.61 and a one year high of $44.48. The company's fifty day simple moving average is $23.68 and its 200 day simple moving average is $29.24. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 62.41 and a beta of 1.01.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its earnings results on Monday, May 12th. The technology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.37 by $0.12. The company had revenue of $210.25 million for the quarter, compared to analyst estimates of $208.25 million. Rapid7 had a net margin of 3.42% and a return on equity of 2,043.18%. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 EPS. Equities analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Rapid7 from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Stifel Nicolaus dropped their price target on shares of Rapid7 from $38.00 to $29.00 and set a "hold" rating on the stock in a research note on Tuesday, May 13th. Royal Bank Of Canada restated a "sector perform" rating on shares of Rapid7 in a research note on Tuesday, May 13th. Susquehanna dropped their price target on shares of Rapid7 from $40.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Piper Sandler lowered their target price on shares of Rapid7 from $35.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $33.32.

Rapid7 Profile

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.