Hsbc Holdings PLC Sells 125,365 Shares of Rapid7, Inc. $RPD

Hsbc Holdings PLC trimmed its position in Rapid7, Inc. (NASDAQ:RPD) by 78.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,323 shares of the technology company’s stock after selling 125,365 shares during the period. Hsbc Holdings PLC’s holdings in Rapid7 were worth $191,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of Rapid7 during the first quarter valued at approximately $1,048,000. SG Americas Securities LLC increased its stake in Rapid7 by 32.4% during the 1st quarter. SG Americas Securities LLC now owns 817,649 shares of the technology company’s stock valued at $4,505,000 after purchasing an additional 200,033 shares in the last quarter. Circumference Group LLC bought a new stake in Rapid7 during the 4th quarter valued at $3,800,000. Vanguard Group Inc. raised its holdings in Rapid7 by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 9,273,763 shares of the technology company’s stock worth $140,961,000 after buying an additional 653,498 shares during the last quarter. Finally, LSV Asset Management raised its holdings in Rapid7 by 25.1% during the fourth quarter. LSV Asset Management now owns 982,397 shares of the technology company’s stock worth $14,932,000 after buying an additional 197,397 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Rapid7 Stock Performance

NASDAQ RPD opened at $10.18 on Tuesday. The company has a fifty day moving average price of $8.91 and a 200-day moving average price of $8.02. The firm has a market cap of $680.33 million, a price-to-earnings ratio of 29.09 and a beta of 0.97. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.78 and a quick ratio of 0.78. Rapid7, Inc. has a 1 year low of $4.97 and a 1 year high of $21.78.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. Rapid7 had a net margin of 2.61% and a return on equity of 34.35%. The company had revenue of $209.69 million for the quarter, compared to analyst estimates of $207.94 million. During the same period last year, the firm earned $0.49 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. As a group, equities research analysts predict that Rapid7, Inc. will post 0.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RPD. Stifel Nicolaus reduced their price objective on shares of Rapid7 from $9.00 to $7.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Piper Sandler dropped their price target on shares of Rapid7 from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Wall Street Zen downgraded Rapid7 from a “buy” rating to a “hold” rating in a research note on Tuesday, April 14th. Morgan Stanley lowered Rapid7 from an “equal weight” rating to an “underweight” rating and set a $9.00 price objective for the company. in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $11.00 price objective on shares of Rapid7 in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Rapid7 has an average rating of “Reduce” and an average target price of $9.03.

Rapid7 Company Profile

Rapid7, Inc is a publicly traded cybersecurity company headquartered in Boston, Massachusetts. Since its founding in 2000, the company has specialized in delivering cloud-based security data and analytics solutions designed to help organizations detect, investigate, and remediate cyber threats. Rapid7 operates under the NASDAQ symbol “RPD” and serves a broad range of industries, including technology, financial services, healthcare, retail, and the public sector.

The core of Rapid7’s offering is its Insight platform, a unified, cloud-native security operations and analytics suite.