Teacher Retirement System of Texas Raises Position in Rapid7, Inc. $RPD

Teacher Retirement System of Texas increased its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 91.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,064 shares of the technology company’s stock after buying an additional 50,083 shares during the quarter. Teacher Retirement System of Texas’ holdings in Rapid7 were worth $1,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in RPD. Penserra Capital Management LLC boosted its holdings in Rapid7 by 45.3% in the second quarter. Penserra Capital Management LLC now owns 2,731,192 shares of the technology company’s stock worth $63,172,000 after acquiring an additional 851,108 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Rapid7 by 114.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,136,438 shares of the technology company’s stock worth $49,409,000 after purchasing an additional 1,142,148 shares in the last quarter. First Trust Advisors LP grew its position in Rapid7 by 4.6% during the 2nd quarter. First Trust Advisors LP now owns 1,543,770 shares of the technology company’s stock worth $35,707,000 after purchasing an additional 67,801 shares during the last quarter. Geode Capital Management LLC grew its position in Rapid7 by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,538,756 shares of the technology company’s stock worth $35,596,000 after purchasing an additional 25,546 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Rapid7 by 103.0% during the 2nd quarter. Legal & General Group Plc now owns 1,187,803 shares of the technology company’s stock valued at $27,474,000 after purchasing an additional 602,684 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. DA Davidson dropped their price objective on shares of Rapid7 from $16.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, November 5th. Royal Bank Of Canada lowered their price target on Rapid7 from $19.00 to $16.00 and set a “sector perform” rating for the company in a research report on Monday, January 5th. JPMorgan Chase & Co. dropped their price target on Rapid7 from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Susquehanna set a $15.00 price objective on Rapid7 in a research note on Thursday, November 6th. Finally, Berenberg Bank assumed coverage on Rapid7 in a report on Tuesday, November 18th. They set a “hold” rating and a $16.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.79.

Rapid7 Stock Up 1.6%

RPD stock opened at $11.92 on Friday. Rapid7, Inc. has a one year low of $11.53 and a one year high of $39.62. The company has a debt-to-equity ratio of 7.01, a quick ratio of 1.19 and a current ratio of 1.19. The firm’s fifty day moving average is $14.63 and its 200 day moving average is $17.60. The firm has a market cap of $780.52 million, a PE ratio of 35.06 and a beta of 0.79.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, November 4th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.12. Rapid7 had a net margin of 2.61% and a return on equity of 67.30%. The business had revenue of $217.96 million for the quarter, compared to analyst estimates of $216.14 million. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Rapid7 has set its FY 2025 guidance at 2.020-2.090 EPS and its Q4 2025 guidance at 0.370-0.44 EPS. On average, research analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current year.

Insider Buying and Selling

In related news, Director Jana Partners Management, Lp purchased 41,545 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The shares were purchased at an average price of $15.71 per share, with a total value of $652,671.95. Following the purchase, the director owned 6,760,149 shares of the company’s stock, valued at $106,201,940.79. The trade was a 0.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas E. Schodorf acquired 6,300 shares of Rapid7 stock in a transaction on Wednesday, November 26th. The shares were bought at an average price of $15.70 per share, with a total value of $98,910.00. Following the completion of the transaction, the director directly owned 34,440 shares of the company’s stock, valued at $540,708. This trade represents a 22.39% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 67,345 shares of company stock valued at $1,025,202 in the last 90 days. Corporate insiders own 2.40% of the company’s stock.

Rapid7 Company Profile

Rapid7, Inc is a publicly traded cybersecurity company headquartered in Boston, Massachusetts. Since its founding in 2000, the company has specialized in delivering cloud-based security data and analytics solutions designed to help organizations detect, investigate, and remediate cyber threats. Rapid7 operates under the NASDAQ symbol “RPD” and serves a broad range of industries, including technology, financial services, healthcare, retail, and the public sector.

The core of Rapid7’s offering is its Insight platform, a unified, cloud-native security operations and analytics suite.