Rapid7, Inc. (NASDAQ:RPD) Director Sells $146,520.00 in Stock

Rapid7, Inc. (NASDAQ:RPD) Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the transaction, the director now directly owns 17,460 shares in the company, valued at $698,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Rapid7 Stock Up 4.1 %

Shares of NASDAQ:RPD opened at $39.16 on Friday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -19.10 and a beta of 0.97. The business has a 50 day moving average price of $36.55 and a 200 day moving average price of $40.25. Rapid7, Inc. has a twelve month low of $32.94 and a twelve month high of $61.88.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.06. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The company had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. During the same period in the prior year, the business earned ($0.33) earnings per share. Rapid7’s revenue for the quarter was up 9.2% compared to the same quarter last year. Analysts anticipate that Rapid7, Inc. will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RPD. KeyCorp raised Rapid7 to a “hold” rating in a research report on Monday, June 17th. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Baird R W lowered shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and decreased their target price for the stock from $52.00 to $43.00 in a research report on Wednesday, August 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rapid7 has a consensus rating of “Hold” and an average target price of $46.13.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RPD. Point72 Asset Management L.P. lifted its position in Rapid7 by 252.0% in the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock worth $164,236,000 after purchasing an additional 2,719,791 shares during the period. First Trust Advisors LP lifted its holdings in shares of Rapid7 by 49.2% during the 4th quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after acquiring an additional 1,124,429 shares during the period. Wasatch Advisors LP boosted its position in shares of Rapid7 by 12.8% during the 4th quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company’s stock valued at $80,514,000 after acquiring an additional 160,531 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Rapid7 by 46.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock valued at $61,512,000 after acquiring an additional 397,968 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Rapid7 by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock worth $24,691,000 after purchasing an additional 18,907 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.