Creative Planning Takes $253,000 Position in Rapid7, Inc. (NASDAQ:RPD)

Creative Planning purchased a new position in shares of Rapid7, Inc. (NASDAQ:RPD) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,339 shares of the technology company’s stock, valued at approximately $253,000.

A number of other institutional investors have also modified their holdings of the company. Green Alpha Advisors LLC raised its holdings in shares of Rapid7 by 11.0% during the 3rd quarter. Green Alpha Advisors LLC now owns 14,444 shares of the technology company’s stock valued at $576,000 after buying an additional 1,435 shares during the period. Diversified Trust Co grew its position in Rapid7 by 3.7% in the third quarter. Diversified Trust Co now owns 19,826 shares of the technology company’s stock valued at $791,000 after acquiring an additional 716 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Rapid7 by 97.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 92,700 shares of the technology company’s stock valued at $4,007,000 after purchasing an additional 45,700 shares during the period. Algert Global LLC lifted its position in shares of Rapid7 by 158.6% during the second quarter. Algert Global LLC now owns 121,953 shares of the technology company’s stock worth $5,272,000 after purchasing an additional 74,793 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Rapid7 during the second quarter worth $6,106,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

RPD has been the topic of several analyst reports. Scotiabank dropped their price target on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. DA Davidson raised their target price on Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday. Piper Sandler cut their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday. Royal Bank of Canada lowered Rapid7 from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $50.00 to $40.00 in a research note on Friday, September 20th. Finally, Jefferies Financial Group began coverage on Rapid7 in a report on Wednesday, October 16th. They set a “buy” rating and a $50.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Rapid7 presently has a consensus rating of “Hold” and a consensus price target of $44.59.

Rapid7 Trading Down 1.8 %

NASDAQ:RPD opened at $40.54 on Friday. The stock has a 50 day moving average of $38.02 and a 200-day moving average of $38.71. The firm has a market capitalization of $2.54 billion, a PE ratio of 64.35 and a beta of 0.96. Rapid7, Inc. has a 52 week low of $32.94 and a 52 week high of $61.88.

Insiders Place Their Bets

In other news, Director Reeny Sondhi sold 3,663 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the transaction, the director now owns 17,460 shares of the company’s stock, valued at approximately $698,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by corporate insiders.

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.