MetLife Investment Management LLC Raises Stock Position in Rapid7, Inc. (NASDAQ:RPD)

Posted by Defense World Staff on Mar 1st, 2023

MetLife Investment Management LLC grew its holdings in Rapid7, Inc. (NASDAQ:RPD – Get Rating) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,883 shares of the technology company’s stock after purchasing an additional 969 shares during the quarter. MetLife Investment Management LLC owned approximately 0.05% of Rapid7 worth $1,325,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. HighTower Advisors LLC raised its stake in shares of Rapid7 by 9.1% in the 1st quarter. HighTower Advisors LLC now owns 2,354 shares of the technology company’s stock valued at $261,000 after acquiring an additional 196 shares during the period. Assetmark Inc. boosted its stake in Rapid7 by 35.6% during the 2nd quarter. Assetmark Inc. now owns 1,010 shares of the technology company’s stock valued at $67,000 after purchasing an additional 265 shares during the period. Acorn Financial Advisory Services Inc. ADV raised its position in shares of Rapid7 by 2.7% during the 3rd quarter. Acorn Financial Advisory Services Inc. ADV now owns 11,880 shares of the technology company’s stock worth $510,000 after buying an additional 308 shares in the last quarter. MQS Management LLC raised its position in shares of Rapid7 by 9.9% during the 2nd quarter. MQS Management LLC now owns 4,090 shares of the technology company’s stock worth $273,000 after buying an additional 368 shares in the last quarter. Finally, Diversified Trust Co raised its position in shares of Rapid7 by 4.6% during the 3rd quarter. Diversified Trust Co now owns 8,760 shares of the technology company’s stock worth $376,000 after buying an additional 387 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Stock Up 0.4 %

Shares of RPD opened at $47.30 on Wednesday. The stock has a market capitalization of $2.84 billion, a P/E ratio of -22.10 and a beta of 1.13. Rapid7, Inc. has a twelve month low of $26.49 and a twelve month high of $118.25. The company has a 50 day moving average of $40.60 and a 200-day moving average of $42.31.

Insider Transactions at Rapid7

In other news, CFO Timothy M. Adams bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 5th. The stock was acquired at an average cost of $30.00 per share, with a total value of $75,000.00. Following the completion of the purchase, the chief financial officer now owns 109,294 shares of the company’s stock, valued at $3,278,820. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Timothy M. Adams bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 5th. The stock was acquired at an average cost of $30.00 per share, with a total value of $75,000.00. Following the completion of the purchase, the chief financial officer now owns 109,294 shares of the company’s stock, valued at $3,278,820. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Corey E. Thomas sold 41,619 shares of Rapid7 stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $36.68, for a total transaction of $1,526,584.92. Following the transaction, the chief executive officer now directly owns 428,074 shares of the company’s stock, valued at $15,701,754.32. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RPD shares. Canaccord Genuity Group cut their price target on shares of Rapid7 from $60.00 to $55.00 in a report on Thursday, November 3rd. Mizuho increased their price objective on shares of Rapid7 from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 9th. Truist Financial cut shares of Rapid7 from a “buy” rating to a “hold” rating and dropped their price objective for the company from $80.00 to $40.00 in a research note on Thursday, November 3rd. Wolfe Research lowered shares of Rapid7 from an “outperform” rating to a “market perform” rating in a report on Thursday, November 3rd. Finally, StockNews.com raised shares of Rapid7 from a “sell” rating to a “hold” rating in a report on Saturday, November 5th. Fourteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Rapid7 presently has an average rating of “Hold” and an average price target of $61.89.

About Rapid7

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Rapid7, Inc engages in the provision of cyber security analytics and automation services. Its products include Metasploit, Nexpose, AppSpider, tCell by Rapid7, as well as insight platforms such as InsightDR, InsightIVM, InsightAppSec, InsightConnect, and InsightOps. The firm also offers security and product consulting services.