KLP Kapitalforvaltning AS Decreases Stock Position in Rapid7, Inc. $RPD

KLP Kapitalforvaltning AS cut its position in Rapid7, Inc. (NASDAQ:RPD) by 10.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 12,000 shares of the technology company’s stock after selling 1,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Rapid7 were worth $278,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RPD. New York State Teachers Retirement System purchased a new position in shares of Rapid7 in the first quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Rapid7 in the first quarter valued at $38,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Rapid7 in the first quarter valued at $74,000. New Age Alpha Advisors LLC purchased a new position in shares of Rapid7 in the first quarter valued at $115,000. Finally, GAMMA Investing LLC boosted its stake in shares of Rapid7 by 2,069.2% in the first quarter. GAMMA Investing LLC now owns 5,488 shares of the technology company’s stock valued at $145,000 after purchasing an additional 5,235 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Rapid7 Stock Down 0.4%

Shares of NASDAQ:RPD opened at $17.97 on Monday. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 43.83 and a beta of 0.92. Rapid7, Inc. has a 1-year low of $17.75 and a 1-year high of $44.48. The company’s fifty day moving average is $19.73 and its two-hundred day moving average is $21.99. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.36 and a current ratio of 1.36.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Thursday, August 7th. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.14. The company had revenue of $214.19 million for the quarter, compared to analysts’ expectations of $212.17 million. Rapid7 had a net margin of 3.41% and a return on equity of 149.12%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.58 earnings per share. Rapid7 has set its FY 2025 guidance at 1.900-2.030 EPS. Q3 2025 guidance at 0.440-0.470 EPS. Equities analysts anticipate that Rapid7, Inc. will post 0.35 EPS for the current year.

Insiders Place Their Bets

In other Rapid7 news, Director Jana Partners Management, Lp bought 250,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were bought at an average cost of $21.26 per share, with a total value of $5,315,000.00. Following the completion of the acquisition, the director owned 6,518,604 shares of the company’s stock, valued at approximately $138,585,521.04. This trade represents a 3.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Scott M. Murphy sold 1,370 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $20.25, for a total transaction of $27,742.50. Following the sale, the chief accounting officer directly owned 27,592 shares in the company, valued at $558,738. This trade represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 772,194 shares of company stock worth $15,135,356 over the last three months. 2.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RPD has been the subject of several analyst reports. Jefferies Financial Group set a $27.00 target price on shares of Rapid7 and gave the company a “buy” rating in a research note on Friday, August 8th. Royal Bank Of Canada reduced their price objective on shares of Rapid7 from $27.00 to $23.00 and set a “sector perform” rating on the stock in a research note on Friday, August 8th. Mizuho reduced their price objective on shares of Rapid7 from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a research note on Sunday, August 3rd. Finally, Citigroup reduced their price objective on shares of Rapid7 from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $26.56.

Rapid7 Company 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.