Continental Investors Services Inc. acquired a new position in Rapid7, Inc. (NASDAQ:RPD – Get Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,120 shares of the technology company’s stock, valued at approximately $316,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Ellevest Inc. purchased a new position in shares of Rapid7 in the third quarter worth approximately $31,000. Financial Advocates Investment Management purchased a new position in Rapid7 during the third quarter valued at approximately $529,000. CWM LLC lifted its holdings in Rapid7 by 96.7% during the third quarter. CWM LLC now owns 1,119 shares of the technology company’s stock valued at $48,000 after purchasing an additional 550 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in Rapid7 during the third quarter valued at approximately $54,000. Finally, Captrust Financial Advisors lifted its holdings in Rapid7 by 117.8% during the first quarter. Captrust Financial Advisors now owns 1,479 shares of the technology company’s stock valued at $165,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.
Rapid7 Stock Performance
Shares of RPD opened at $39.74 on Friday. The company’s fifty day moving average is $43.25 and its 200 day moving average is $41.05. Rapid7, Inc. has a fifty-two week low of $26.49 and a fifty-two week high of $118.25. The stock has a market capitalization of $2.39 billion, a PE ratio of -19.08 and a beta of 1.13.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on RPD. Raymond James lifted their price target on shares of Rapid7 from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, February 9th. Barclays lifted their price target on shares of Rapid7 from $37.00 to $58.00 and gave the company an “equal weight” rating in a report on Thursday, February 9th. Canaccord Genuity Group downgraded shares of Rapid7 from a “buy” rating to a “hold” rating and lowered their price target for the company from $55.00 to $52.00 in a report on Thursday, February 9th. DA Davidson started coverage on shares of Rapid7 in a report on Thursday, January 12th. They set a “neutral” rating and a $34.00 price target on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $60.00 price objective on shares of Rapid7 in a research report on Thursday, February 9th. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.89.
Rapid7 Company Profile
Rapid7, Inc engages in the provision of cyber security analytics and automation services. Its products include Metasploit, Nexpose, AppSpider, tCell by Rapid7, as well as insight platforms such as InsightDR, InsightIVM, InsightAppSec, InsightConnect, and InsightOps. The firm also offers security and product consulting services.
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