Harbor Capital Advisors Inc. Increases Position in Rapid7, Inc. (NASDAQ:RPD)

Harbor Capital Advisors Inc. grew its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 259.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 288,965 shares of the technology company’s stock after purchasing an additional 208,501 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Rapid7 were worth $11,625,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC lifted its position in Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after buying an additional 661 shares during the period. Quest Partners LLC acquired a new position in shares of Rapid7 in the 2nd quarter valued at $35,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Rapid7 during the 3rd quarter valued at $69,000. Point72 Hong Kong Ltd raised its position in shares of Rapid7 by 315.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock worth $90,000 after buying an additional 1,575 shares during the period. Finally, 1620 Investment Advisors Inc. increased its stake in Rapid7 by 14.5% during the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after acquiring an additional 352 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Stock Performance

Shares of RPD stock traded up $0.04 during trading hours on Friday, hitting $39.12. 154,241 shares of the company were exchanged, compared to its average volume of 448,689. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 62.10 and a beta of 0.96. Rapid7, Inc. has a one year low of $32.94 and a one year high of $61.88. The business’s 50-day simple moving average is $40.88 and its two-hundred day simple moving average is $39.19.

Rapid7 (NASDAQ:RPD) last issued 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. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The company had revenue of $214.65 million during the quarter, compared to analyst estimates of $210.04 million. During the same quarter last year, the firm earned $0.11 EPS. The business’s revenue was up 8.0% on a year-over-year basis. As a group, analysts anticipate that Rapid7, Inc. will post 0.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RPD shares. Piper Sandler reduced their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada cut shares of Rapid7 from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $50.00 to $40.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. raised their target price on shares of Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. UBS Group decreased their price target on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Truist Financial cut their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $44.59.

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.