Rapid7, Inc. $RPD Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. reduced its stake in Rapid7, Inc. by 34.9%, selling 16,626 shares and holding 31,043 shares valued at $718,000.
• In contrast, Two Sigma Advisers LP increased its stake by 87.7%, while other firms like Versant Capital Management Inc. and GAMMA Investing LLC also saw significant increases in their holdings.
• Rapid7 reported $0.58 earnings per share for the last quarter, exceeding analysts' estimates, with a 3.0% year-over-year revenue growth to $214.19 million.

Assenagon Asset Management S.A. decreased its stake in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 34.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,043 shares of the technology company's stock after selling 16,626 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Rapid7 were worth $718,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RPD. Two Sigma Advisers LP increased its stake in Rapid7 by 87.7% during the 4th quarter. Two Sigma Advisers LP now owns 10,700 shares of the technology company's stock valued at $430,000 after purchasing an additional 5,000 shares in the last quarter. Versant Capital Management Inc increased its stake in Rapid7 by 5,311.1% during the 1st quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company's stock valued at $39,000 after purchasing an additional 1,434 shares in the last quarter. GAMMA Investing LLC increased its stake in Rapid7 by 2,069.2% during the 1st quarter. GAMMA Investing LLC now owns 5,488 shares of the technology company's stock valued at $145,000 after purchasing an additional 5,235 shares in the last quarter. Rhumbline Advisers increased its stake in Rapid7 by 2.5% during the 1st quarter. Rhumbline Advisers now owns 91,191 shares of the technology company's stock valued at $2,417,000 after purchasing an additional 2,262 shares in the last quarter. Finally, Green Alpha Advisors LLC increased its stake in Rapid7 by 88.2% during the 1st quarter. Green Alpha Advisors LLC now owns 26,249 shares of the technology company's stock valued at $696,000 after purchasing an additional 12,300 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $19.39 on Friday. The company's fifty day moving average price is $20.57 and its 200 day moving average price is $23.02. Rapid7, Inc. has a 1 year low of $17.83 and a 1 year high of $44.48. The company has a market capitalization of $1.26 billion, a PE ratio of 47.29 and a beta of 0.94. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.36 and a current ratio of 1.36.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.14. Rapid7 had a net margin of 3.41% and a return on equity of 149.12%. The firm had revenue of $214.19 million for the quarter, compared to the consensus estimate of $212.17 million. During the same period in the prior year, the firm posted $0.58 earnings per share. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. Rapid7 has set its FY 2025 guidance at 1.900-2.030 EPS. Q3 2025 guidance at 0.440-0.470 EPS. On average, research analysts predict that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Jefferies Financial Group set a $27.00 price objective on shares of Rapid7 and gave the company a "buy" rating in a report on Friday, August 8th. UBS Group dropped their price objective on shares of Rapid7 from $39.00 to $34.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Scotiabank dropped their price objective on shares of Rapid7 from $29.00 to $20.00 and set a "sector perform" rating on the stock in a report on Monday, August 11th. Stifel Nicolaus dropped their price objective on shares of Rapid7 from $29.00 to $22.00 and set a "hold" rating on the stock in a report on Friday, August 8th. Finally, Royal Bank Of Canada dropped their price objective on shares of Rapid7 from $27.00 to $23.00 and set a "sector perform" 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 given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $26.56.

Insiders Place Their Bets

In related news, CAO Scott M. Murphy sold 1,370 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $20.25, for a total transaction of $27,742.50. Following the sale, the chief accounting officer directly owned 27,592 shares of the company's stock, valued at approximately $558,738. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jana Partners Management, Lp acquired 250,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were bought at an average cost of $21.26 per share, for a total transaction of $5,315,000.00. Following the completion of the acquisition, the director owned 6,518,604 shares of the company's stock, valued at approximately $138,585,521.04. This represents a 3.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 772,194 shares of company stock worth $15,135,356 over the last three months. 2.40% of the stock is currently owned by insiders.

Rapid7 Company 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.

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