First Trust Discloses Passive Stake in Rapid7 (RPD)
Ticker: RPD · Form: SC 13G · Filed: Jan 10, 2024 · CIK: 1560327
| Field | Detail |
|---|---|
| Company | Rapid7, Inc. (RPD) |
| Form Type | SC 13G |
| Filed Date | Jan 10, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**First Trust just revealed a passive stake in Rapid7, signaling institutional backing.**
AI Summary
First Trust Portfolios L.P., along with First Trust Advisors L.P. and The Charger Corporation, filed an SC 13G on January 10, 2024, disclosing their ownership of common stock in Rapid7, Inc. (NASDAQ: RPD) as of December 31, 2023. This filing indicates that First Trust is a significant institutional investor in Rapid7, holding a passive stake. This matters to current and prospective Rapid7 shareholders because it signals institutional confidence in the company, potentially providing a floor for the stock price and indicating a belief in its long-term prospects.
Why It Matters
This filing shows a major institutional investor, First Trust, has a significant, passive stake in Rapid7, which can be a vote of confidence for other investors.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of a passive investment, indicating no immediate change in company control or strategy.
Analyst Insight
Investors should note the institutional ownership by First Trust as a potential indicator of long-term value, but this passive filing doesn't suggest immediate price catalysts.
Key Players & Entities
- Rapid7, Inc. (company) — the subject company whose securities are being reported
- First Trust Portfolios L.P. (company) — one of the reporting persons filing the SC 13G
- First Trust Advisors L.P. (company) — one of the reporting persons filing the SC 13G
- The Charger Corporation (company) — one of the reporting persons filing the SC 13G
- December 31, 2023 (date) — the date of the event which requires the filing
- January 10, 2024 (date) — the filing date of the SC 13G
FAQ
Who are the reporting persons identified in this SC 13G filing?
The reporting persons identified are First Trust Portfolios L.P., First Trust Advisors L.P., and The Charger Corporation, as stated in Item 1 of the filing.
What is the CUSIP number for the class of securities reported in this filing?
The CUSIP number for the common stock of Rapid7, Inc. is 753422104, as listed on the cover page and in the filing details.
What is the date of the event that triggered this SC 13G filing?
The date of the event which requires the filing of this statement is December 31, 2023, as specified on the cover page of the filing.
Under which rule of the Securities Exchange Act of 1934 was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), indicated by the 'X' in the appropriate box on the cover page.
What is the business address of the subject company, Rapid7, Inc.?
Rapid7, Inc.'s business address is 120 Causeway Street, Boston, MA 02114, as detailed in the 'BUSINESS ADDRESS' section of the filing.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 10, 2024 regarding Rapid7, Inc. (RPD).