Moors & Cabot Inc. Has $206,000 Stock Holdings in Rapid7, Inc. (NASDAQ:RPD)

Moors & Cabot Inc. trimmed its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 9.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,544 shares of the technology company’s stock after selling 464 shares during the quarter. Moors & Cabot Inc.’s holdings in Rapid7 were worth $206,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Rapid7 in the 4th quarter valued at $20,261,000. Fred Alger Management LLC boosted its stake in shares of Rapid7 by 150.0% in the 1st quarter. Fred Alger Management LLC now owns 870,536 shares of the technology company’s stock valued at $39,966,000 after purchasing an additional 522,286 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of Rapid7 by 21.4% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,714,600 shares of the technology company’s stock valued at $124,627,000 after purchasing an additional 478,254 shares during the last quarter. Bank of Montreal Can bought a new position in Rapid7 during the second quarter worth $20,075,000. Finally, Goldman Sachs Group Inc. boosted its stake in Rapid7 by 43.6% during the second quarter. Goldman Sachs Group Inc. now owns 1,306,095 shares of the technology company’s stock worth $87,247,000 after acquiring an additional 396,586 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Stock Performance

NASDAQ RPD opened at $52.40 on Tuesday. Rapid7, Inc. has a 52-week low of $26.50 and a 52-week high of $55.61. The company has a 50-day simple moving average of $48.45 and a 200 day simple moving average of $46.80. The company has a market capitalization of $3.20 billion, a PE ratio of -17.64 and a beta of 1.04.

Analysts Set New Price Targets

Several research analysts recently issued reports on RPD shares. Morgan Stanley increased their target price on shares of Rapid7 from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 7th. Canaccord Genuity Group increased their target price on shares of Rapid7 from $45.00 to $52.00 and gave the stock a “hold” rating in a research note on Thursday, August 24th. Citigroup increased their target price on shares of Rapid7 from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 29th. JPMorgan Chase & Co. increased their target price on shares of Rapid7 from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Finally, Truist Financial increased their target price on shares of Rapid7 from $40.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 3rd. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rapid7 presently has an average rating of “Hold” and an average target price of $52.07.

Rapid7 Profile

Rapid7, Inc provides cybersecurity solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cybersecurity risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a cloud risk and compliance management platform; InsightVM helps organizations to discover and remediate vulnerability risk across their network; InsightAppSec that provides dynamic application security testing; and InsightConnect, a security orchestration and automation response solution.