Insider Selling: Rapid7, Inc. (NASDAQ:RPD) CEO Sells 39,652 Shares of Stock

Rapid7, Inc. (NASDAQ:RPD) CEO Corey E. Thomas sold 39,652 shares of the firm’s stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $85.00, for a total transaction of $3,370,420.00. Following the completion of the sale, the chief executive officer now owns 394,489 shares in the company, valued at approximately $33,531,565. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NASDAQ RPD opened at $88.16 on Friday. The company has a market capitalization of $4.86 billion, a PE ratio of -43.22 and a beta of 1.30. The firm’s fifty day moving average is $81.47. Rapid7, Inc. has a 52-week low of $45.33 and a 52-week high of $94.60. The company has a debt-to-equity ratio of 5.29, a quick ratio of 2.14 and a current ratio of 2.14.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Thursday, May 6th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.03. The company had revenue of $117.50 million during the quarter, compared to analysts’ expectations of $114.36 million. Rapid7 had a negative return on equity of 177.30% and a negative net margin of 24.34%. The business’s revenue was up 24.6% on a year-over-year basis. During the same period last year, the business earned ($0.09) earnings per share. Equities analysts forecast that Rapid7, Inc. will post -1.59 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of RPD. Alliancebernstein L.P. lifted its holdings in shares of Rapid7 by 1,716.7% during the fourth quarter. Alliancebernstein L.P. now owns 1,315,213 shares of the technology company’s stock valued at $118,580,000 after acquiring an additional 1,242,818 shares during the period. Aequim Alternative Investments LP raised its holdings in shares of Rapid7 by 932.2% in the fourth quarter. Aequim Alternative Investments LP now owns 993,000 shares of the technology company’s stock valued at $1,072,000 after buying an additional 896,800 shares during the last quarter. Norges Bank bought a new position in shares of Rapid7 in the fourth quarter valued at about $54,503,000. Lord Abbett & CO. LLC raised its holdings in shares of Rapid7 by 615.3% in the fourth quarter. Lord Abbett & CO. LLC now owns 507,873 shares of the technology company’s stock valued at $45,790,000 after buying an additional 436,871 shares during the last quarter. Finally, Washington Harbour Partners LP bought a new position in shares of Rapid7 in the fourth quarter valued at about $34,426,000. 97.27% of the stock is owned by institutional investors.

Several equities research analysts have recently issued reports on RPD shares. Mizuho lowered their price objective on shares of Rapid7 from $102.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, May 7th. Raymond James lifted their price target on shares of Rapid7 from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Friday, May 7th. Piper Sandler upgraded shares of Rapid7 from a “neutral” rating to an “overweight” rating and set a $100.00 price target on the stock in a research note on Monday, March 8th. Zacks Investment Research downgraded shares of Rapid7 from a “hold” rating to a “sell” rating in a research note on Thursday, May 20th. Finally, Stifel Nicolaus initiated coverage on shares of Rapid7 in a research note on Wednesday, February 17th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $98.10.

About Rapid7

Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightIDR, an incident detection and response solution; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.

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Insider Buying and Selling by Quarter for Rapid7 (NASDAQ:RPD)

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