Great Lakes Advisors LLC Makes New $2.20 Million Investment in Rapid7, Inc. (NASDAQ:RPD)

Great Lakes Advisors LLC purchased a new stake in Rapid7, Inc. (NASDAQ:RPD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 38,523 shares of the technology company's stock, valued at approximately $2,200,000. Great Lakes Advisors LLC owned 0.06% of Rapid7 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Arizona State Retirement System boosted its position in shares of Rapid7 by 1.9% in the third quarter. Arizona State Retirement System now owns 17,184 shares of the technology company's stock valued at $787,000 after acquiring an additional 320 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Rapid7 by 13.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company's stock worth $134,000 after purchasing an additional 336 shares during the period. Natixis Advisors L.P. raised its position in shares of Rapid7 by 2.0% during the fourth quarter. Natixis Advisors L.P. now owns 17,446 shares of the technology company's stock valued at $996,000 after buying an additional 344 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Rapid7 by 11.6% in the fourth quarter. Principal Financial Group Inc. now owns 6,998 shares of the technology company's stock valued at $400,000 after buying an additional 727 shares during the period. Finally, International Assets Investment Management LLC grew its position in Rapid7 by 3,367.9% during the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company's stock worth $55,000 after buying an additional 943 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

Rapid7 Trading Down 3.7 %

Shares of RPD stock traded down $1.48 on Tuesday, reaching $38.08. The company had a trading volume of 1,113,730 shares, compared to its average volume of 858,275. The stock has a market cap of $2.37 billion, a PE ratio of -18.58 and a beta of 1.01. The company has a 50-day moving average of $45.88 and a 200-day moving average of $52.17. Rapid7, Inc. has a 12 month low of $35.22 and a 12 month high of $61.88.

Insider Buying and Selling at Rapid7

In related news, COO Andrew F. Burton sold 31,727 shares of the firm's 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 sale, the chief operating officer now owns 257,494 shares of the company's stock, valued at approximately $13,665,206.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Andrew F. Burton sold 20,653 shares of the company's stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $48.73, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andrew F. Burton sold 31,727 shares of the business's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the completion of the sale, the chief operating officer now directly owns 257,494 shares in the company, valued at $13,665,206.58. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on RPD shares. Mizuho reduced their price objective on Rapid7 from $62.00 to $47.00 and set a "neutral" rating for the company in a research report on Wednesday, May 8th. Susquehanna decreased their price target on shares of Rapid7 from $55.00 to $40.00 and set a "neutral" rating on the stock in a research note on Monday, May 13th. StockNews.com cut shares of Rapid7 from a "buy" rating to a "hold" rating in a research note on Wednesday, March 6th. UBS Group reduced their price objective on shares of Rapid7 from $70.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, May 8th. Finally, Piper Sandler lowered their target price on shares of Rapid7 from $56.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 8th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.