Assenagon Asset Management S.A. Grows Position in Rapid7, Inc. (NASDAQ:RPD)

Assenagon Asset Management S.A. raised its holdings in Rapid7, Inc. (NASDAQ:RPD - Free Report) by 311.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,261 shares of the technology company's stock after acquiring an additional 26,693 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of Rapid7 worth $1,729,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Rapid7 by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company's stock valued at $322,337,000 after acquiring an additional 148,440 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Rapid7 by 49.2% during the 4th quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company's stock valued at $194,668,000 after buying an additional 1,124,429 shares in the last quarter. Hawk Ridge Capital Management LP raised its holdings in shares of Rapid7 by 757.7% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company's stock valued at $72,894,000 after buying an additional 1,406,619 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of Rapid7 by 12.8% during the 4th quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company's stock valued at $80,514,000 after buying an additional 160,531 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Rapid7 by 40.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,237,023 shares of the technology company's stock valued at $56,631,000 after buying an additional 355,192 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Insider Activity

In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the completion of the transaction, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction on Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the transaction, the chief operating officer now owns 236,841 shares in the company, valued at $11,541,261.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction on 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 transaction, the chief operating officer now owns 257,494 shares of the company's stock, valued at approximately $13,665,206.58. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Rapid7 Stock Performance

Shares of RPD traded up $1.45 on Monday, reaching $39.56. The stock had a trading volume of 951,854 shares, compared to its average volume of 855,583. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of -19.30 and a beta of 1.01. The company has a 50-day simple moving average of $46.20 and a 200-day simple moving average of $52.26. Rapid7, Inc. has a 12-month low of $35.22 and a 12-month high of $61.88.

Analysts Set New Price Targets

RPD has been the topic of a number of research reports. Mizuho decreased their price objective on Rapid7 from $62.00 to $47.00 and set a "neutral" rating on the stock in a report on Wednesday, May 8th. Needham & Company LLC restated a "hold" rating on shares of Rapid7 in a research report on Friday, May 10th. Royal Bank of Canada reduced their price target on Rapid7 from $70.00 to $57.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 8th. Stifel Nicolaus reduced their price target on Rapid7 from $63.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, May 8th. Finally, Canaccord Genuity Group reduced their price target on Rapid7 from $60.00 to $52.00 and set a "hold" rating on the stock in a research report on Wednesday, May 8th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $51.73.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.