Assenagon Asset Management S.A. Buys 25,398 Shares of Rapid7, Inc. (NASDAQ:RPD)

Assenagon Asset Management S.A. lifted its stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 106.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,155 shares of the technology company's stock after purchasing an additional 25,398 shares during the period. Assenagon Asset Management S.A. owned approximately 0.08% of Rapid7 worth $1,978,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. increased its position in 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. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Rapid7 by 10.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company's stock valued at $185,000 after acquiring an additional 400 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock valued at $27,000 after acquiring an additional 661 shares during the last quarter. Diversified Trust Co increased its position in Rapid7 by 3.7% during the 3rd quarter. Diversified Trust Co now owns 19,826 shares of the technology company's stock worth $791,000 after purchasing an additional 716 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Rapid7 by 3.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,078 shares of the technology company's stock valued at $1,280,000 after purchasing an additional 965 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on RPD shares. UBS Group lowered their target price on shares of Rapid7 from $59.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Piper Sandler dropped their target price on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on Rapid7 from $40.00 to $42.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. DA Davidson lifted their price target on Rapid7 from $35.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Truist Financial cut their price objective on shares of Rapid7 from $40.00 to $38.00 and set a "hold" rating on the stock in a report on Thursday, November 7th. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $43.76.

Rapid7 Stock Down 1.0 %

Rapid7 stock traded down $0.39 during midday trading on Thursday, hitting $38.90. The company's stock had a trading volume of 521,688 shares, compared to its average volume of 546,256. Rapid7, Inc. has a 12 month low of $32.94 and a 12 month high of $61.88. The company has a market capitalization of $2.46 billion, a PE ratio of 61.75 and a beta of 0.96. The stock's 50-day moving average price is $40.57 and its 200-day moving average price is $39.03.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.14. The business had revenue of $214.65 million during the quarter, compared to analyst estimates of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. Rapid7's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the company posted $0.11 EPS. As a group, equities analysts anticipate that Rapid7, Inc. will post 0.98 EPS 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.