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 company’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 of the company’s stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Rapid7 Stock Performance

Shares of NASDAQ:RPD traded down $0.39 during midday trading on Thursday, hitting $38.90. 521,688 shares of the stock were exchanged, compared to its average volume of 546,256. The business’s 50-day moving average price is $40.54 and its 200 day moving average price is $39.03. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 61.75 and a beta of 0.96. Rapid7, Inc. has a 12 month low of $32.94 and a 12 month high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The company had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. During the same period last year, the company earned $0.11 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts expect that Rapid7, Inc. will post 0.98 EPS for the current year.

Hedge Funds Weigh In On Rapid7

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in shares of Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after buying an additional 347 shares in the last quarter. 1620 Investment Advisors Inc. raised its stake in Rapid7 by 14.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after buying an additional 352 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Rapid7 by 10.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock worth $185,000 after acquiring an additional 400 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Rapid7 by 0.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock valued at $2,782,000 after acquiring an additional 446 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after acquiring an additional 661 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RPD. JPMorgan Chase & Co. upped their price objective on shares of Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Scotiabank raised their target price on Rapid7 from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Stifel Nicolaus reissued a “hold” rating and issued a $42.00 price target (down previously from $48.00) on shares of Rapid7 in a report on Friday, January 17th. Truist Financial reduced 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, Piper Sandler reduced their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Fifteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Rapid7 currently has a consensus rating of “Hold” and an average price target of $43.76.

Rapid7 Company Profile

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.