Jana Partners Management, Lp Purchases 163,456 Shares of Rapid7, Inc. (NASDAQ:RPD) Stock

Key Points

• Jana Partners Management, Lp acquired 163,456 shares of Rapid7 at an average price of $20.07, increasing their total ownership to over 6.26 million shares.
• Rapid7's stock saw a trading increase of 5.9%, reaching $21.32, with a market capitalization of $1.37 billion.
• The company reported earnings of $0.58 per share for the last quarter, exceeding analysts' expectations and marking a revenue increase of 3.0% year-over-year.

Rapid7, Inc. (NASDAQ:RPD - Get Free Report) Director Jana Partners Management, Lp acquired 163,456 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were bought at an average cost of $20.07 per share, with a total value of $3,280,561.92. Following the completion of the acquisition, the director directly owned 6,268,604 shares in the company, valued at approximately $125,810,882.28. This represents a 2.68% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Jana Partners Management, Lp also recently made the following trade(s):

• On Wednesday, August 13th, Jana Partners Management, Lp bought 250,000 shares of Rapid7 stock. The stock was acquired at an average cost of $21.26 per share, with a total value of $5,315,000.00.
• On Monday, August 11th, Jana Partners Management, Lp bought 358,738 shares of Rapid7 stock. The stock was acquired at an average cost of $18.23 per share, with a total value of $6,539,793.74.

Rapid7 Trading Up 5.9%

Shares of NASDAQ RPD traded up $1.18 during trading hours on Wednesday, hitting $21.32. The company's stock had a trading volume of 1,399,841 shares, compared to its average volume of 874,890. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.24 and a current ratio of 1.36. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 52.00 and a beta of 0.96. Rapid7, Inc. has a 12 month low of $17.83 and a 12 month high of $44.48. The business has a 50-day simple moving average of $22.71 and a 200-day simple moving average of $26.13.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.14. The company 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%. Rapid7's quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.58 earnings per share. On average, analysts anticipate that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Rapid7

Several institutional investors and hedge funds have recently bought and sold shares of RPD. Teacher Retirement System of Texas lifted its holdings in shares of Rapid7 by 24.1% during the first quarter. Teacher Retirement System of Texas now owns 54,091 shares of the technology company's stock valued at $1,434,000 after purchasing an additional 10,487 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rapid7 by 18.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,548 shares of the technology company's stock valued at $291,000 after purchasing an additional 1,648 shares during the last quarter. New York State Teachers Retirement System purchased a new position in shares of Rapid7 during the first quarter valued at approximately $29,000. Invesco Ltd. raised its holdings in Rapid7 by 5.4% in the 4th quarter. Invesco Ltd. now owns 36,487 shares of the technology company's stock worth $1,468,000 after acquiring an additional 1,860 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Rapid7 by 1.1% in the 1st quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company's stock valued at $1,456,000 after acquiring an additional 609 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RPD has been the subject of several recent analyst reports. Robert W. Baird upped their target price on Rapid7 from $26.00 to $28.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Barclays reduced their price objective on Rapid7 from $26.00 to $25.00 and set an "equal weight" rating for the company in a report on Tuesday, May 13th. Morgan Stanley increased their price objective on Rapid7 from $26.00 to $28.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. Jefferies Financial Group set a $27.00 price objective on Rapid7 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Mizuho reduced their price objective on Rapid7 from $27.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $27.67.

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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