Harbor Capital Advisors Inc. Boosts Stake in Rapid7, Inc. (NASDAQ:RPD)

Harbor Capital Advisors Inc. grew its stake in Rapid7, Inc. (NASDAQ:RPD) by 259.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 288,965 shares of the technology company’s stock after acquiring an additional 208,501 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.46% of Rapid7 worth $11,625,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its stake in shares of Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after buying an additional 661 shares during the last quarter. Quest Partners LLC acquired a new stake in Rapid7 during the second quarter valued at $35,000. RPg Family Wealth Advisory LLC purchased a new position in Rapid7 in the third quarter valued at $69,000. Point72 Hong Kong Ltd raised its holdings in 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 purchasing an additional 1,575 shares during the period. Finally, 1620 Investment Advisors Inc. increased its holdings in Rapid7 by 14.5% in the 3rd 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 in the last quarter. 95.66% of the stock is owned by institutional investors.

Rapid7 Stock Performance

RPD stock traded up $0.04 during midday trading on Friday, hitting $39.12. 154,241 shares of the stock were exchanged, compared to its average volume of 448,689. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 62.10 and a beta of 0.96. Rapid7, Inc. has a fifty-two week low of $32.94 and a fifty-two week high of $61.88. The stock’s 50-day moving average price is $40.88 and its 200-day moving average price is $39.19.

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

Analyst Ratings Changes

RPD has been the subject of a number of research analyst reports. Royal Bank of Canada cut Rapid7 from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $50.00 to $40.00 in a report on Friday, September 20th. Jefferies Financial Group started coverage on Rapid7 in a report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price target for the company. Truist Financial lowered their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. DA Davidson lifted their price target on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently 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.