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

Thematics Asset Management raised its stake in Rapid7, Inc. (NASDAQ:RPD) by 33.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 399,000 shares of the technology company’s stock after acquiring an additional 99,000 shares during the period. Thematics Asset Management owned about 0.63% of Rapid7 worth $15,916,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its position in Rapid7 by 3,888.2% in the 3rd 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 during the last quarter. Quest Partners LLC bought a new stake in Rapid7 during the 2nd quarter worth about $35,000. Summit Securities Group LLC acquired a new stake in Rapid7 in the 2nd quarter valued at about $43,000. Financial Connections Group Inc. bought a new position in shares of Rapid7 in the second quarter worth about $72,000. Finally, Point72 Hong Kong Ltd lifted its position in shares of Rapid7 by 315.0% during 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 in the last quarter. 95.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Piper Sandler reduced their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a research report on Wednesday, August 7th. Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and cut their target price for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Truist Financial lowered their price target on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $52.00 to $43.00 in a research note on Wednesday, August 7th. Fifteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Rapid7 currently has a consensus rating of “Hold” and an average target price of $44.59.

Rapid7 Price Performance

Rapid7 stock traded down $0.21 during mid-day trading on Tuesday, hitting $42.53. 20,288 shares of the company’s stock traded hands, compared to its average volume of 841,164. The firm has a 50 day simple moving average of $39.18 and a two-hundred day simple moving average of $38.39. Rapid7, Inc. has a fifty-two week low of $32.94 and a fifty-two week high of $61.88. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 67.84 and a beta of 0.96.

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

Insider Buying and Selling

In related news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the transaction, the director now owns 17,460 shares in the company, valued at approximately $698,400. This trade represents a 17.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by 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.