Teachers Retirement System of The State of Kentucky boosted its holdings in Rapid7, Inc. (NASDAQ:RPD – Get Rating) by 8.5% during the first quarter, Holdings Channel.com reports. The fund owned 23,669 shares of the technology company’s stock after buying an additional 1,862 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Rapid7 were worth $2,633,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in RPD. Camden Capital LLC increased its position in shares of Rapid7 by 4.0% during the 4th quarter. Camden Capital LLC now owns 2,600 shares of the technology company’s stock valued at $306,000 after purchasing an additional 100 shares during the last quarter. Signaturefd LLC increased its position in shares of Rapid7 by 37.1% during the 1st quarter. Signaturefd LLC now owns 421 shares of the technology company’s stock valued at $47,000 after purchasing an additional 114 shares during the last quarter. Diversified Trust Co increased its position in shares of Rapid7 by 3.5% during the 1st quarter. Diversified Trust Co now owns 4,932 shares of the technology company’s stock valued at $549,000 after purchasing an additional 167 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Rapid7 by 9.1% during the 1st quarter. HighTower Advisors LLC now owns 2,354 shares of the technology company’s stock valued at $261,000 after purchasing an additional 196 shares during the last quarter. Finally, Elequin Capital LP bought a new position in shares of Rapid7 during the 1st quarter valued at about $25,000.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on RPD shares. Needham & Company LLC reduced their price objective on Rapid7 from $155.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, August 4th. Raymond James raised their price target on Rapid7 from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Barclays reduced their price target on Rapid7 from $110.00 to $92.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. Morgan Stanley reduced their price target on Rapid7 from $95.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 4th. Finally, Mizuho reduced their price target on Rapid7 from $95.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.36.
Rapid7 Stock Performance
Rapid7 (NASDAQ:RPD – Get Rating) last released its earnings results on Wednesday, August 3rd. The technology company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.03. The firm had revenue of $167.46 million during the quarter, compared to analysts’ expectations of $164.36 million. As a group, equities analysts predict that Rapid7, Inc. will post -2 EPS for the current year.
Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a solution that integrates posture management, workload protection, infrastructure entitlements management, infrastructure-as-code security, and Kubernetes protection; InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.
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