Penserra Capital Management LLC Grows Stock Holdings in Rapid7, Inc. $RPD

Penserra Capital Management LLC raised its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 45.3% during the second quarter, HoldingsChannel reports. The fund owned 2,731,192 shares of the technology company’s stock after purchasing an additional 851,108 shares during the quarter. Rapid7 comprises about 0.9% of Penserra Capital Management LLC’s investment portfolio, making the stock its 25th biggest holding. Penserra Capital Management LLC’s holdings in Rapid7 were worth $63,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. New York State Teachers Retirement System purchased a new position in shares of Rapid7 in the first quarter valued at $29,000. Teacher Retirement System of Texas boosted its stake in Rapid7 by 24.1% in the 1st quarter. Teacher Retirement System of Texas now owns 54,091 shares of the technology company’s stock worth $1,434,000 after purchasing an additional 10,487 shares during the period. Principal Financial Group Inc. boosted its stake in Rapid7 by 1.1% in 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. DekaBank Deutsche Girozentrale purchased a new position in Rapid7 during the 1st quarter valued at about $74,000. Finally, Victory Capital Management Inc. increased its position in shares of Rapid7 by 20.3% during the first quarter. Victory Capital Management Inc. now owns 21,040 shares of the technology company’s stock valued at $558,000 after buying an additional 3,554 shares during the period. 95.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RPD. Susquehanna set a $15.00 price objective on shares of Rapid7 in a research report on Thursday. Canaccord Genuity Group lowered their target price on shares of Rapid7 from $32.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday. Royal Bank Of Canada reduced their price target on shares of Rapid7 from $27.00 to $23.00 and set a “sector perform” rating for the company in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Rapid7 in a report on Wednesday. Finally, DA Davidson dropped their price objective on Rapid7 from $16.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.78.

Insider Transactions at Rapid7

In other news, Director Jana Partners Management, Lp acquired 358,738 shares of Rapid7 stock in a transaction dated 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 transaction, the director owned 6,105,148 shares of the company’s stock, valued at $111,296,848.04. This trade represents a 6.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Scott M. Murphy sold 1,370 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $20.25, for a total value of $27,742.50. Following the transaction, the chief accounting officer directly owned 27,592 shares in the company, valued at approximately $558,738. This represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders bought a total of 772,194 shares of company stock valued at $15,135,356 over the last quarter. Company insiders own 2.40% of the company’s stock.

Rapid7 Price Performance

Shares of NASDAQ:RPD opened at $14.20 on Friday. The company’s fifty day moving average price is $18.90 and its 200-day moving average price is $21.43. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a market capitalization of $919.39 million, a price-to-earnings ratio of 34.63 and a beta of 0.94. Rapid7, Inc. has a one year low of $13.97 and a one year high of $44.48.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. The company had revenue of $217.96 million during the quarter, compared to the consensus estimate of $216.14 million. Rapid7 had a net margin of 3.41% and a return on equity of 149.12%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. Rapid7 has set its FY 2025 guidance at 2.020-2.090 EPS. Q4 2025 guidance at 0.370-0.44 EPS. On average, equities research analysts anticipate that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

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.