Point72 Hong Kong Ltd Buys 1,575 Shares of Rapid7, Inc. (NASDAQ:RPD)

Point72 Hong Kong Ltd increased its position in Rapid7, Inc. (NASDAQ:RPD) by 315.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,075 shares of the technology company’s stock after purchasing an additional 1,575 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Rapid7 were worth $90,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Squarepoint Ops LLC increased its position in Rapid7 by 68.4% during the 2nd quarter. Squarepoint Ops LLC now owns 71,558 shares of the technology company’s stock valued at $3,093,000 after purchasing an additional 29,058 shares during the period. Fred Alger Management LLC increased its holdings in Rapid7 by 0.3% during the second quarter. Fred Alger Management LLC now owns 494,509 shares of the technology company’s stock valued at $21,378,000 after buying an additional 1,297 shares during the period. Point72 Asset Management L.P. raised its stake in Rapid7 by 252.0% in the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock worth $164,236,000 after buying an additional 2,719,791 shares in the last quarter. Scalar Gauge Management LLC purchased a new stake in Rapid7 during the second quarter worth $1,945,000. Finally, 272 Capital LP bought a new stake in Rapid7 during the 2nd quarter valued at $6,979,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RPD. Scotiabank dropped their price objective on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. KeyCorp upgraded Rapid7 to a “hold” rating in a report on Monday, June 17th. UBS Group dropped their target price on Rapid7 from $65.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and lowered their target price for the stock from $52.00 to $43.00 in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Rapid7 from $46.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Rapid7 presently has a consensus rating of “Hold” and an average price target of $46.13.

Rapid7 Stock Up 1.0 %

Rapid7 stock opened at $37.36 on Friday. Rapid7, Inc. has a 52 week low of $32.94 and a 52 week high of $61.88. The business’s 50-day moving average price is $36.61 and its 200 day moving average price is $40.62. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of -18.22 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. The firm had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.33) EPS. Equities analysts expect that Rapid7, Inc. will post 0.8 EPS for the current 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.