Assenagon Asset Management S.A. Buys Shares of 23,757 Rapid7, Inc. (NASDAQ:RPD)

Assenagon Asset Management S.A. acquired a new position in Rapid7, Inc. (NASDAQ:RPD - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,757 shares of the technology company's stock, valued at approximately $948,000.

Several other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its holdings in shares of Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock worth $27,000 after acquiring an additional 661 shares during the last quarter. Tempus Wealth Planning LLC acquired a new stake in Rapid7 during the 3rd quarter worth approximately $264,000. Creative Planning acquired a new stake in Rapid7 during the 3rd quarter worth approximately $253,000. Green Alpha Advisors LLC lifted its holdings in Rapid7 by 11.0% during the 3rd quarter. Green Alpha Advisors LLC now owns 14,444 shares of the technology company's stock worth $576,000 after buying an additional 1,435 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings 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 buying an additional 716 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Reeny Sondhi sold 3,663 shares of the firm's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the sale, the director now owns 17,460 shares in the company, valued at approximately $698,400. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RPD. Scotiabank reduced their target price on shares of Rapid7 from $45.00 to $41.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 7th. UBS Group reduced their target price on shares of Rapid7 from $65.00 to $59.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Canaccord Genuity Group upgraded shares of Rapid7 from a "hold" rating to a "buy" rating and reduced their target price for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Royal Bank of Canada lowered shares of Rapid7 from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $50.00 to $40.00 in a report on Friday, September 20th. Finally, Robert W. Baird downgraded shares of Rapid7 from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $56.00 to $45.00 in a research report on Thursday, August 1st. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $46.06.

Rapid7 Trading Down 1.2 %

Shares of NASDAQ RPD traded down $0.47 during mid-day trading on Friday, reaching $39.95. The company had a trading volume of 621,344 shares, compared to its average volume of 638,540. The firm has a 50 day simple moving average of $37.74 and a two-hundred day simple moving average of $38.85. The stock has a market cap of $2.51 billion, a P/E ratio of -47.56 and a beta of 0.96. Rapid7, Inc. has a 52-week low of $32.94 and a 52-week high of $61.88.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.06. The firm had revenue of $207.99 million for the quarter, compared to the consensus estimate of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The company's revenue was up 9.2% on a year-over-year basis. During the same period last year, the firm posted ($0.33) EPS. On average, equities analysts expect that Rapid7, Inc. will post 0.8 EPS for the current year.

Rapid7 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.