Voya Investment Management LLC Lowers Position in Rapid7, Inc. $RPD

Voya Investment Management LLC cut its holdings in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 96.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,782 shares of the technology company's stock after selling 436,444 shares during the quarter. Voya Investment Management LLC's holdings in Rapid7 were worth $445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Principal Financial Group Inc. grew its holdings in shares of Rapid7 by 1.1% during the 1st quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company's stock worth $1,456,000 after purchasing an additional 609 shares during the period. Y.D. More Investments Ltd lifted its stake in Rapid7 by 12.0% during the 1st quarter. Y.D. More Investments Ltd now owns 5,839 shares of the technology company's stock worth $171,000 after acquiring an additional 625 shares in the last quarter. New York State Teachers Retirement System acquired a new position in Rapid7 during the 1st quarter worth about $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Rapid7 during the 1st quarter worth about $38,000. Finally, Versant Capital Management Inc lifted 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 worth $39,000 after acquiring an additional 1,434 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Rapid7 Price Performance

RPD stock opened at $19.39 on Friday. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a 50-day simple moving average of $20.57 and a 200-day simple moving average of $23.02. Rapid7, Inc. has a 1 year low of $17.83 and a 1 year high of $44.48. The firm has a market cap of $1.26 billion, a P/E ratio of 47.29 and a beta of 0.94.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted 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. The firm had revenue of $214.19 million for the quarter, compared to analysts' expectations of $212.17 million. Rapid7 had a return on equity of 149.12% and a net margin of 3.41%.The firm's revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.58 EPS. Rapid7 has set its FY 2025 guidance at 1.900-2.030 EPS. Q3 2025 guidance at 0.440-0.470 EPS. On average, equities analysts predict that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jana Partners Management, Lp purchased 358,738 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average cost of $18.23 per share, for a total transaction of $6,539,793.74. Following the completion of the purchase, the director directly owned 6,105,148 shares of the company's stock, valued at approximately $111,296,848.04. The trade was a 6.24% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Scott M. Murphy sold 1,370 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was 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 in the company, valued at $558,738. The trade was a 4.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 772,194 shares of company stock worth $15,135,356 over the last 90 days. Corporate insiders own 2.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RPD shares. Raymond James Financial reduced their price target on Rapid7 from $40.00 to $30.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Susquehanna cut their target price on Rapid7 from $30.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, August 11th. Scotiabank cut their target price on Rapid7 from $29.00 to $20.00 and set a "sector perform" rating on the stock in a research report on Monday, August 11th. Morgan Stanley dropped their price target on Rapid7 from $28.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Tuesday, September 2nd. Finally, Royal Bank Of Canada dropped their price target on Rapid7 from $27.00 to $23.00 and set a "sector perform" rating on the stock in a research note on Friday, August 8th. 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 given a Sell rating to the stock. According to MarketBeat, Rapid7 has a consensus rating of "Hold" and a consensus target price of $26.56.

About Rapid7

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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