Carlson Capital L P Acquires New Stake in Rapid7, Inc. (NASDAQ:RPD)

Carlson Capital L P bought a new position in Rapid7, Inc. (NASDAQ:RPD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,000 shares of the technology company’s stock, valued at approximately $272,000.

Several other institutional investors and hedge funds have also made changes to their positions in RPD. Vanguard Group Inc. boosted its holdings in shares of Rapid7 by 1.2% in the third quarter. Vanguard Group Inc. now owns 5,446,543 shares of the technology company’s stock valued at $233,657,000 after purchasing an additional 64,816 shares during the period. Alyeska Investment Group L.P. lifted its holdings in shares of Rapid7 by 21.4% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,714,600 shares of the technology company’s stock worth $124,627,000 after buying an additional 478,254 shares during the period. Wasatch Advisors Inc. grew its position in shares of Rapid7 by 11.0% during the 1st quarter. Wasatch Advisors Inc. now owns 2,454,833 shares of the technology company’s stock worth $273,076,000 after buying an additional 243,040 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Rapid7 by 5.8% during the first quarter. Capital Research Global Investors now owns 1,603,819 shares of the technology company’s stock valued at $178,409,000 after buying an additional 87,700 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in shares of Rapid7 by 8.6% in the first quarter. Macquarie Group Ltd. now owns 1,377,973 shares of the technology company’s stock valued at $63,263,000 after acquiring an additional 108,948 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Rapid7 Price Performance

NASDAQ:RPD traded up $0.29 during trading hours on Friday, hitting $51.80. 447,798 shares of the company were exchanged, compared to its average volume of 813,886. Rapid7, Inc. has a 52-week low of $26.50 and a 52-week high of $55.61. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of -17.44 and a beta of 1.04. The company’s 50 day moving average price is $48.39 and its 200-day moving average price is $46.75.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RPD shares. Morgan Stanley increased their target price on shares of Rapid7 from $52.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 7th. StockNews.com began coverage on shares of Rapid7 in a research note on Thursday, October 5th. They issued a “hold” rating for the company. JPMorgan Chase & Co. increased their target price on Rapid7 from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, August 9th. Canaccord Genuity Group boosted their price target on Rapid7 from $45.00 to $52.00 and gave the stock a “hold” rating in a research report on Thursday, August 24th. Finally, Wolfe Research raised Rapid7 from a “peer perform” rating to an “outperform” rating and set a $56.00 price objective on the stock in a research report on Friday, November 3rd. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $52.07.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cybersecurity risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a cloud risk and compliance management platform; InsightVM helps organizations to discover and remediate vulnerability risk across their network; InsightAppSec that provides dynamic application security testing; and InsightConnect, a security orchestration and automation response solution.