Redwood Investment Management LLC Has $634,000 Stake in Rapid7, Inc. $RPD

Key Points

• Redwood Investment Management LLC has reduced its stake in Rapid7, Inc. by 59.4%, now holding 23,934 shares valued at $634,000.
• Several other institutional investors have increased their positions in Rapid7, with 95.66% of the stock currently owned by institutional investors overall.
• Analysts have mixed ratings on Rapid7, with a consensus price target of $26.89 and multiple firms adjusting their price targets recently.

Redwood Investment Management LLC lessened its position in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 59.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,934 shares of the technology company's stock after selling 35,077 shares during the period. Redwood Investment Management LLC's holdings in Rapid7 were worth $634,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Penserra Capital Management LLC grew its holdings in shares of Rapid7 by 95.8% during the first quarter. Penserra Capital Management LLC now owns 1,880,084 shares of the technology company's stock worth $49,841,000 after purchasing an additional 919,955 shares during the last quarter. Shapiro Capital Management LLC raised its holdings in Rapid7 by 295.9% in the 4th quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company's stock valued at $51,935,000 after buying an additional 964,899 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Rapid7 by 17.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 919,434 shares of the technology company's stock worth $36,993,000 after buying an additional 133,967 shares during the period. Northern Trust Corp boosted its position in Rapid7 by 8.0% during the 4th quarter. Northern Trust Corp now owns 624,936 shares of the technology company's stock worth $25,141,000 after buying an additional 46,351 shares during the period. Finally, Nuveen LLC bought a new stake in Rapid7 during the 1st quarter worth approximately $15,510,000. 95.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 transaction, the chief accounting officer directly owned 27,592 shares of the company's stock, valued at $558,738. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jana Partners Management, Lp purchased 358,738 shares of Rapid7 stock in a transaction on Monday, August 11th. The stock was bought at an average price of $18.23 per share, with a total value of $6,539,793.74. Following the completion of the acquisition, the director directly owned 6,105,148 shares of the company's stock, valued at approximately $111,296,848.04. This trade represents a 6.24% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 772,194 shares of company stock worth $15,135,356 over the last 90 days. Company insiders own 2.40% of the company's stock.

Analyst Upgrades and Downgrades

RPD has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Rapid7 from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Jefferies Financial Group set a $27.00 price objective on shares of Rapid7 and gave the stock a "buy" rating in a research note on Friday, August 8th. Stifel Nicolaus lowered their target price on Rapid7 from $29.00 to $22.00 and set a "hold" rating for the company in a research report on Friday, August 8th. Robert W. Baird lifted their target price on Rapid7 from $26.00 to $28.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Finally, Barclays reduced their price target on Rapid7 from $26.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $26.89.

Rapid7 Stock Performance

RPD stock opened at $20.67 on Thursday. The firm has a market cap of $1.34 billion, a PE ratio of 50.42 and a beta of 0.96. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 9.84. The stock has a 50-day moving average price of $22.07 and a 200-day moving average price of $24.85. Rapid7, Inc. has a 1-year low of $17.83 and a 1-year high of $44.48.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.44 by $0.14. Rapid7 had a return on equity of 149.12% and a net margin of 3.41%.The company had revenue of $214.19 million for the quarter, compared to analyst estimates of $212.17 million. During the same quarter in the prior year, the company earned $0.58 EPS. The firm's revenue for the quarter 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. As a group, equities research analysts expect that Rapid7, Inc. will post 0.35 earnings per share for the current year.

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.

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