Shell Asset Management Co. lowered its position in Rapid7, Inc. (NASDAQ:RPD – Get Rating) by 12.9% in the first quarter, Holdings Channel.com reports. The fund owned 3,024 shares of the technology company’s stock after selling 447 shares during the period. Shell Asset Management Co.’s holdings in Rapid7 were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently modified their holdings of RPD. Commonwealth Equity Services LLC bought a new position in shares of Rapid7 during the 4th quarter worth approximately $218,000. CWM LLC bought a new position in shares of Rapid7 during the 4th quarter worth approximately $58,000. Assenagon Asset Management S.A. lifted its position in shares of Rapid7 by 2.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 18,356 shares of the technology company’s stock worth $2,160,000 after buying an additional 355 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Rapid7 by 17.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,862 shares of the technology company’s stock worth $6,104,000 after buying an additional 7,760 shares during the period. Finally, New York State Common Retirement Fund lifted its position in shares of Rapid7 by 3.1% during the 4th quarter. New York State Common Retirement Fund now owns 124,035 shares of the technology company’s stock worth $14,598,000 after buying an additional 3,696 shares during the period. Institutional investors own 98.03% of the company’s stock.
Rapid7 Stock Up 0.5 %
NASDAQ:RPD opened at $67.76 on Friday. Rapid7, Inc. has a 12-month low of $60.42 and a 12-month high of $145.00. The firm has a market capitalization of $3.95 billion, a P/E ratio of -23.21 and a beta of 1.27. The stock’s fifty day simple moving average is $68.72 and its 200-day simple moving average is $86.52.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. Truist Financial cut their target price on Rapid7 from $135.00 to $110.00 in a research report on Tuesday, May 10th. Needham & Company LLC dropped their price target on Rapid7 from $155.00 to $90.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada dropped their price target on Rapid7 from $140.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, August 1st. Barclays dropped their price target on Rapid7 from $110.00 to $92.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Finally, KeyCorp dropped their price target on Rapid7 from $129.00 to $92.00 and set an “overweight” rating for the company in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $106.36.
Insider Transactions at Rapid7
In related news, CFO Timothy M. Adams purchased 5,000 shares of Rapid7 stock in a transaction dated Monday, May 9th. The shares were acquired at an average cost of $65.50 per share, for a total transaction of $327,500.00. Following the transaction, the chief financial officer now directly owns 106,540 shares of the company’s stock, valued at $6,978,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by corporate insiders.
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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