Harbor Capital Advisors Inc. Has $11.63 Million Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Harbor Capital Advisors Inc. grew its position in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 259.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 288,965 shares of the technology company's stock after acquiring an additional 208,501 shares during the period. Harbor Capital Advisors Inc. owned about 0.46% of Rapid7 worth $11,625,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. International Assets Investment Management LLC increased its stake in shares of Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock worth $27,000 after acquiring an additional 661 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Rapid7 in the second quarter valued at approximately $35,000. RPg Family Wealth Advisory LLC purchased a new stake in Rapid7 during the 3rd quarter worth approximately $69,000. Point72 Hong Kong Ltd boosted its holdings in Rapid7 by 315.0% in the second quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company's stock valued at $90,000 after purchasing an additional 1,575 shares during the period. Finally, 1620 Investment Advisors Inc. grew its position in shares of Rapid7 by 14.5% during the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company's stock worth $111,000 after buying an additional 352 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RPD has been the subject of several research analyst reports. Truist Financial decreased their price objective on shares of Rapid7 from $40.00 to $38.00 and set a "hold" rating for the company in a research note on Thursday, November 7th. Piper Sandler dropped their price objective on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. DA Davidson boosted their target price on shares of Rapid7 from $35.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of Rapid7 from $40.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada downgraded Rapid7 from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $50.00 to $40.00 in a report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $44.59.

Rapid7 Stock Performance

Shares of RPD stock traded down $0.10 on Friday, hitting $38.98. The stock had a trading volume of 492,197 shares, compared to its average volume of 507,016. The stock's 50 day moving average is $40.88 and its 200-day moving average is $39.19. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 61.87 and a beta of 0.96. Rapid7, Inc. has a 52-week low of $32.94 and a 52-week high of $61.88.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.14. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The company had revenue of $214.65 million during the quarter, compared to analyst estimates of $210.04 million. During the same period last year, the business earned $0.11 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts expect that Rapid7, Inc. will post 0.98 earnings per share 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.