Dynamic Technology Lab Private Ltd Lowers Holdings in Rapid7, Inc. (NASDAQ:RPD)

Dynamic Technology Lab Private Ltd decreased its holdings in Rapid7, Inc. (NASDAQ:RPD) by 27.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,459 shares of the technology company’s stock after selling 4,831 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Rapid7 were worth $711,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lisanti Capital Growth LLC acquired a new stake in Rapid7 in the fourth quarter valued at approximately $3,522,000. Duality Advisers LP acquired a new stake in Rapid7 in the fourth quarter valued at approximately $235,000. Tudor Investment Corp Et Al raised its holdings in Rapid7 by 46.5% in the third quarter. Tudor Investment Corp Et Al now owns 145,102 shares of the technology company’s stock valued at $6,643,000 after acquiring an additional 46,053 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in Rapid7 in the fourth quarter valued at approximately $2,200,000. Finally, Exchange Traded Concepts LLC raised its holdings in Rapid7 by 34.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 42,448 shares of the technology company’s stock valued at $2,424,000 after acquiring an additional 10,798 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RPD shares. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a report on Friday, May 10th. Truist Financial cut their price objective on shares of Rapid7 from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. Royal Bank of Canada cut their price objective on shares of Rapid7 from $70.00 to $57.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Canaccord Genuity Group cut their price objective on shares of Rapid7 from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. Finally, Susquehanna cut their price objective on shares of Rapid7 from $55.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Rapid7 has an average rating of “Hold” and an average target price of $51.73.

Insider Buying and Selling at Rapid7

In other news, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the sale, the chief operating officer now directly owns 257,494 shares of the company’s stock, valued at approximately $13,665,206.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the sale, the chief operating officer now directly owns 236,841 shares in the company, valued at $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Rapid7 Price Performance

Shares of RPD opened at $38.28 on Thursday. The company’s fifty day moving average is $45.59 and its two-hundred day moving average is $52.07. Rapid7, Inc. has a 1 year low of $35.22 and a 1 year high of $61.88.

Rapid7 Company Profile

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.