Rapid7, Inc. (NASDAQ:RPD) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. lowered its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 27.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,642 shares of the technology company’s stock after selling 56,569 shares during the quarter. Panagora Asset Management Inc. owned about 0.25% of Rapid7 worth $8,602,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in Rapid7 by 3,367.9% during the 4th 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 during the last quarter. Financial Connections Group Inc. acquired a new position in Rapid7 in the 4th quarter valued at approximately $95,000. Strs Ohio lifted its position in Rapid7 by 100.0% in the 3rd quarter. Strs Ohio now owns 2,600 shares of the technology company’s stock worth $119,000 after buying an additional 1,300 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake 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 valued at $134,000 after buying an additional 336 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Rapid7 in the third quarter worth $162,000. Institutional investors own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

RPD has been the subject of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research report on Friday, May 10th. Stifel Nicolaus dropped their price objective on Rapid7 from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. StockNews.com cut shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Susquehanna dropped 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. Finally, Citigroup reduced their price objective on shares of Rapid7 from $65.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Rapid7 presently has a consensus rating of “Hold” and an average target price of $51.73.

Insider Activity

In other news, COO Andrew F. Burton sold 31,727 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the business’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 transaction of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares in the company, valued at $11,541,261.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of the firm’s 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 completion of the sale, the chief operating officer now directly owns 257,494 shares in the company, valued at approximately $13,665,206.58. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Rapid7 Stock Performance

NASDAQ RPD opened at $38.11 on Friday. Rapid7, Inc. has a 52-week low of $35.22 and a 52-week high of $61.88. The company’s fifty day moving average is $46.49 and its two-hundred day moving average is $52.23.

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.