Vident Advisory LLC Has $2.31 Million Holdings in Rapid7, Inc. $RPD

Key Points

• Vident Advisory LLC increased its stake in Rapid7, Inc. by 157.6%, acquiring an additional 53,309 shares to hold 87,127 shares worth approximately $2.31 million.
• Insiders bought a total of 772,194 shares worth $15.14 million in the last 90 days, indicating strong internal support for the company.
• Analysts have cut price targets for Rapid7, with a consensus rating of "Hold" and a target price of $26.89, reflecting cautious outlook amid recent stock performance.

Vident Advisory LLC increased its stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 157.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,127 shares of the technology company's stock after purchasing an additional 53,309 shares during the period. Vident Advisory LLC owned 0.14% of Rapid7 worth $2,310,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Penserra Capital Management LLC raised its position in Rapid7 by 95.8% in the 1st 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 position 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 worth $51,935,000 after purchasing an additional 964,899 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Rapid7 by 17.1% in 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 purchasing an additional 133,967 shares during the last quarter. Northern Trust Corp raised its position in Rapid7 by 8.0% in the 4th quarter. Northern Trust Corp now owns 624,936 shares of the technology company's stock worth $25,141,000 after purchasing an additional 46,351 shares during the last quarter. Finally, Nuveen LLC bought a new position in Rapid7 in the 1st quarter worth approximately $15,510,000. Institutional investors own 95.66% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RPD shares. DA Davidson restated an "underperform" rating and issued a $21.00 price objective (down previously from $29.00) on shares of Rapid7 in a research report on Tuesday, May 13th. Wall Street Zen upgraded shares of Rapid7 from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. Mizuho dropped their target price on shares of Rapid7 from $27.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Canaccord Genuity Group dropped their target price on shares of Rapid7 from $39.00 to $32.00 and set a "hold" rating for the company in a research report on Monday, August 11th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Rapid7 from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $26.56.

Rapid7 Trading Up 2.4%

Shares of RPD traded up $0.48 during trading hours on Friday, reaching $20.32. The stock had a trading volume of 832,486 shares, compared to its average volume of 909,137. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 9.84. Rapid7, Inc. has a 52 week low of $17.83 and a 52 week high of $44.48. The firm has a 50-day moving average of $21.68 and a 200 day moving average of $24.09. The company has a market cap of $1.32 billion, a P/E ratio of 49.56 and a beta of 0.94.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.58 EPS for the quarter, beating 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 business had revenue of $214.19 million during the quarter, compared to analysts' expectations of $212.17 million. During the same quarter in the prior year, the company earned $0.58 EPS. The firm's quarterly revenue was up 3.0% on a year-over-year basis. Rapid7 has set its FY 2025 guidance at 1.900-2.030 EPS. Q3 2025 guidance at 0.440-0.470 EPS. On average, sell-side analysts expect that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Scott M. Murphy sold 1,370 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $20.25, for a total value of $27,742.50. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jana Partners Management, Lp bought 250,000 shares of Rapid7 stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average cost of $21.26 per share, with a total value of $5,315,000.00. Following the completion of the purchase, the director owned 6,518,604 shares in the company, valued at approximately $138,585,521.04. This trade represents a 3.99% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 772,194 shares of company stock valued at $15,135,356. 2.40% of the stock is owned by corporate insiders.

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.