Teachers Retirement System of The State of Kentucky Buys 1,862 Shares of Rapid7, Inc. (NASDAQ:RPD)

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Rapid7, Inc. (NASDAQ:RPDGet Rating) by 8.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,669 shares of the technology company’s stock after acquiring 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in RPD. Alliancebernstein L.P. raised its position in shares of Rapid7 by 20.0% during the fourth quarter. Alliancebernstein L.P. now owns 1,468,694 shares of the technology company’s stock worth $172,851,000 after acquiring an additional 244,379 shares during the last quarter. Wasatch Advisors Inc. raised its position in shares of Rapid7 by 11.0% during the first quarter. Wasatch Advisors Inc. now owns 2,454,833 shares of the technology company’s stock worth $273,076,000 after acquiring an additional 243,040 shares during the last quarter. Bank of Montreal Can increased its holdings in Rapid7 by 115.3% in the first quarter. Bank of Montreal Can now owns 390,216 shares of the technology company’s stock worth $43,755,000 after purchasing an additional 208,938 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Rapid7 by 22.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,017,838 shares of the technology company’s stock worth $119,789,000 after purchasing an additional 186,816 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Rapid7 by 1.9% in the first quarter. Vanguard Group Inc. now owns 5,281,948 shares of the technology company’s stock worth $587,565,000 after purchasing an additional 96,883 shares in the last quarter.

Rapid7 Stock Up 3.1 %

Shares of NASDAQ:RPD opened at $50.92 on Tuesday. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -17.44 and a beta of 1.30. Rapid7, Inc. has a 12-month low of $48.56 and a 12-month high of $145.00. The business’s 50 day moving average is $63.22 and its 200 day moving average is $78.49.

Rapid7 (NASDAQ:RPDGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The technology company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.03. The business had revenue of $167.46 million during the quarter, compared to analysts’ expectations of $164.36 million. As a group, equities research analysts expect that Rapid7, Inc. will post -2 earnings per share for the current year.

Wall Street Analyst Weigh In

RPD has been the subject of a number of research analyst reports. Barclays lowered their target price on Rapid7 from $110.00 to $92.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Mizuho lowered their target price on Rapid7 from $95.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, August 4th. Royal Bank of Canada lowered their target price on Rapid7 from $140.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, August 1st. Citigroup reduced their price objective on Rapid7 from $80.00 to $78.00 in a research note on Thursday, August 4th. Finally, Morgan Stanley reduced their price objective on Rapid7 from $95.00 to $80.00 and set an “equal weight” rating for the company in a research note on Thursday, August 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Rapid7 has a consensus rating of “Moderate Buy” and an average target price of $106.36.

Rapid7 Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for Rapid7 (NASDAQ:RPD)

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