Harbor Capital Advisors Inc. Cuts Position in Rapid7, Inc. $RPD

Harbor Capital Advisors Inc. decreased its holdings in Rapid7, Inc. (NASDAQ:RPD) by 81.0% in the third quarter, HoldingsChannel.com reports. The firm owned 56,444 shares of the technology company’s stock after selling 240,170 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Rapid7 were worth $1,058,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC lifted its position in shares of Rapid7 by 136.7% during the 2nd quarter. Acadian Asset Management LLC now owns 169,955 shares of the technology company’s stock valued at $3,924,000 after buying an additional 98,161 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in Rapid7 by 45.3% during the second quarter. Penserra Capital Management LLC now owns 2,731,192 shares of the technology company’s stock valued at $63,172,000 after purchasing an additional 851,108 shares in the last quarter. CenterBook Partners LP increased its stake in shares of Rapid7 by 68.9% during the second quarter. CenterBook Partners LP now owns 253,629 shares of the technology company’s stock worth $5,866,000 after purchasing an additional 103,504 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Rapid7 by 366.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 144,707 shares of the technology company’s stock worth $2,713,000 after purchasing an additional 113,664 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Rapid7 by 112.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,286,300 shares of the technology company’s stock valued at $60,610,000 after buying an additional 1,209,856 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Rapid7 Price Performance

Rapid7 stock opened at $15.40 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 7.01. The company has a 50-day moving average price of $15.95 and a 200 day moving average price of $19.35. Rapid7, Inc. has a 12-month low of $13.21 and a 12-month high of $41.38. The stock has a market cap of $1.01 billion, a P/E ratio of 45.29 and a beta of 0.84.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RPD shares. Piper Sandler cut their price objective on Rapid7 from $30.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Zacks Research cut Rapid7 from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Jefferies Financial Group set a $18.00 price objective on Rapid7 in a research note on Tuesday, December 16th. Berenberg Bank began coverage on Rapid7 in a report on Tuesday, November 18th. They issued a “hold” rating and a $16.00 price objective on the stock. Finally, Scotiabank dropped their target price on shares of Rapid7 from $20.00 to $18.00 and set a “sector perform” rating for the company in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.16.

Insider Activity at Rapid7

In other Rapid7 news, Director Thomas E. Schodorf purchased 6,300 shares of the stock in a transaction dated Wednesday, November 26th. The stock was acquired at an average cost of $15.70 per share, for a total transaction of $98,910.00. Following the acquisition, the director owned 34,440 shares in the company, valued at $540,708. This trade represents a 22.39% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marc Evan Brown acquired 3,000 shares of Rapid7 stock in a transaction that occurred on Tuesday, November 25th. The stock was bought at an average price of $15.21 per share, for a total transaction of $45,630.00. Following the completion of the acquisition, the director owned 51,882 shares in the company, valued at $789,125.22. This trade represents a 6.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 67,345 shares of company stock valued at $1,025,202 over the last 90 days. Corporate insiders own 2.40% of the company’s stock.

Rapid7 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.