Versor Investments LP Acquires New Holdings in Rapid7, Inc. (NASDAQ:RPD)

Versor Investments LP bought a new stake in shares of Rapid7, Inc. (NASDAQ:RPD) in the fourth quarter, Holdings Channel.com reports. The firm bought 6,600 shares of the technology company’s stock, valued at approximately $266,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its holdings in shares of Rapid7 by 259.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock valued at $11,625,000 after purchasing an additional 208,501 shares during the period. Invenomic Capital Management LP acquired a new position in Rapid7 during the 3rd quarter valued at about $6,647,000. Thematics Asset Management raised its position in shares of Rapid7 by 33.0% during the 3rd quarter. Thematics Asset Management now owns 399,000 shares of the technology company’s stock worth $15,916,000 after buying an additional 99,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Rapid7 by 102.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 187,500 shares of the technology company’s stock worth $7,479,000 after buying an additional 94,800 shares in the last quarter. Finally, 272 Capital LP lifted its stake in shares of Rapid7 by 33.4% in the 3rd quarter. 272 Capital LP now owns 215,287 shares of the technology company’s stock worth $8,588,000 after acquiring an additional 53,849 shares during the period. Institutional investors own 95.66% of the company’s stock.

Rapid7 Stock Down 2.5 %

RPD stock opened at $28.35 on Tuesday. The company has a 50 day moving average of $37.55 and a two-hundred day moving average of $38.56. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 72.69 and a beta of 0.96. Rapid7, Inc. has a 12-month low of $27.95 and a 12-month high of $59.43.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. On average, research analysts anticipate that Rapid7, Inc. will post 0.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RPD. DA Davidson boosted their price objective on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Scotiabank cut their target price on shares of Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Piper Sandler decreased their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Finally, Truist Financial decreased their target price on Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.22.

Insider Activity

In other news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the transaction, the chief executive officer now owns 431,469 shares in the company, valued at approximately $16,991,249.22. This trade represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by corporate insiders.

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.