Rapid7, Inc. (NASDAQ:RPD) CEO Sells $3,938,000.00 in Stock

Rapid7, Inc. (NASDAQ:RPD) CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the transaction, the chief executive officer now owns 431,469 shares in the company, valued at $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Rapid7 Stock Performance

Shares of Rapid7 stock opened at $38.90 on Friday. The firm’s 50-day simple moving average is $40.51 and its 200-day simple moving average is $39.02. Rapid7, Inc. has a twelve month low of $32.94 and a twelve month high of $61.88. The firm has a market cap of $2.46 billion, a P/E ratio of 61.75 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The business had revenue of $214.65 million for the quarter, compared to analyst estimates of $210.04 million. During the same period in the previous year, the business earned $0.11 EPS. The firm’s revenue was up 8.0% on a year-over-year basis. On average, equities analysts forecast that Rapid7, Inc. will post 0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rapid7

Several institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after purchasing an additional 347 shares during the last quarter. 1620 Investment Advisors Inc. lifted its holdings in Rapid7 by 14.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after purchasing an additional 352 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Rapid7 by 10.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock valued at $185,000 after purchasing an additional 400 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Rapid7 by 0.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock valued at $2,782,000 after purchasing an additional 446 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after purchasing an additional 661 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RPD. UBS Group lowered their target price on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Scotiabank raised their target price on shares of Rapid7 from $39.00 to $42.00 and gave the company a “sector perform” rating in a research note on Tuesday. DA Davidson raised their target price on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Truist Financial lowered their target price on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Fifteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Rapid7 currently has a consensus rating of “Hold” and an average price target of $43.76.

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.