Teacher Retirement System of Texas Grows Stock Holdings in Rapid7, Inc. (NASDAQ:RPD)

Teacher Retirement System of Texas increased its holdings in shares of Rapid7, Inc. (NASDAQ:RPD) by 672.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,604 shares of the technology company’s stock after purchasing an additional 37,958 shares during the period. Teacher Retirement System of Texas owned approximately 0.07% of Rapid7 worth $1,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after purchasing an additional 455 shares during the period. Pacer Advisors Inc. grew its position in Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after buying an additional 347 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in Rapid7 in the third quarter valued at $69,000. KBC Group NV raised its position in shares of Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after acquiring an additional 867 shares during the period. Finally, FORA Capital LLC purchased a new stake in shares of Rapid7 during the 3rd quarter worth about $209,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the sale, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. This trade represents a 18.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Rapid7 Stock Down 1.7 %

Shares of RPD opened at $28.71 on Friday. Rapid7, Inc. has a 52-week low of $26.77 and a 52-week high of $50.55. The stock has a fifty day simple moving average of $33.32 and a two-hundred day simple moving average of $37.38. The company has a market capitalization of $1.84 billion, a PE ratio of 73.62 and a beta of 0.92.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. As a group, equities analysts anticipate that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Truist Financial reduced their price target on Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Morgan Stanley started coverage on Rapid7 in a research note on Tuesday, March 18th. They set an “equal weight” rating and a $33.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research note on Thursday, February 13th. Scotiabank reduced their price objective on shares of Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Finally, UBS Group dropped their target price on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $39.94.

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.