Diversified Trust Co Raises Holdings in Rapid7, Inc. (NASDAQ:RPD)

Diversified Trust Co lifted its stake in Rapid7, Inc. (NASDAQ:RPD) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,534 shares of the technology company’s stock after buying an additional 1,708 shares during the quarter. Diversified Trust Co’s holdings in Rapid7 were worth $866,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of RPD. International Assets Investment Management LLC raised its holdings in shares of Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after acquiring an additional 661 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Rapid7 during the second quarter valued at approximately $35,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Rapid7 during the third quarter valued at approximately $69,000. Point72 Hong Kong Ltd raised its holdings in shares of Rapid7 by 315.0% during the second quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock valued at $90,000 after acquiring an additional 1,575 shares during the last quarter. Finally, 1620 Investment Advisors Inc. raised its holdings in shares of Rapid7 by 14.5% during the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after acquiring an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Jefferies Financial Group initiated 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 for the company in a research report on Thursday, November 7th. Royal Bank of Canada lowered Rapid7 from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $50.00 to $40.00 in a research report on Friday, September 20th. Finally, Piper Sandler lowered their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.59.

Rapid7 Stock Performance

RPD opened at $39.08 on Friday. The business’s 50-day simple moving average is $40.88 and its 200-day simple moving average is $39.19. Rapid7, Inc. has a one year low of $32.94 and a one year high of $61.88. The stock has a market capitalization of $2.47 billion, a P/E ratio of 62.03 and a beta of 0.96.

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

About Rapid7

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.