Thematics Asset Management Has $15.92 Million Holdings in Rapid7, Inc. (NASDAQ:RPD)

Thematics Asset Management lifted its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 33.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 399,000 shares of the technology company’s stock after acquiring an additional 99,000 shares during the quarter. Thematics Asset Management’s holdings in Rapid7 were worth $15,916,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after purchasing an additional 661 shares in the last quarter. Quest Partners LLC bought a new position in Rapid7 in the 2nd quarter valued at approximately $35,000. Summit Securities Group LLC bought a new position in Rapid7 in the 2nd quarter valued at approximately $43,000. Financial Connections Group Inc. acquired a new stake in Rapid7 during the 2nd quarter worth approximately $72,000. Finally, Point72 Hong Kong Ltd grew its stake in shares of Rapid7 by 315.0% in the second quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock worth $90,000 after purchasing an additional 1,575 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Rapid7 Stock Performance

RPD traded down $0.21 during midday trading on Tuesday, reaching $42.53. The company had a trading volume of 20,288 shares, compared to its average volume of 841,164. The business has a 50-day moving average price of $39.18 and a two-hundred day moving average price of $38.39. Rapid7, Inc. has a 12-month low of $32.94 and a 12-month high of $61.88. The stock has a market cap of $2.69 billion, a PE ratio of 67.84 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.14. The firm had revenue of $214.65 million for the quarter, compared to analyst estimates of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share. On average, research analysts anticipate that Rapid7, Inc. will post 0.98 earnings per share for the current year.

Insider Transactions at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the sale, the director now directly owns 17,460 shares in the company, valued at $698,400. This represents a 17.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

RPD has been the topic of several analyst reports. Royal Bank of Canada cut Rapid7 from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $50.00 to $40.00 in a report on Friday, September 20th. Piper Sandler decreased their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Scotiabank cut their price target on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Truist Financial reduced their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their target price on Rapid7 from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $44.59.

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.