Rapid7, Inc. (NASDAQ:RPD) CEO Corey E. Thomas Sells 100,000 Shares

Rapid7, Inc. (NASDAQ:RPD) CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Rapid7 Trading Down 1.0 %

Shares of NASDAQ:RPD traded down $0.39 during trading on Thursday, reaching $38.90. The company had a trading volume of 521,688 shares, compared to its average volume of 546,256. The company has a fifty day moving average of $40.54 and a two-hundred day moving average of $39.03. The stock has a market capitalization of $2.46 billion, a P/E 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 released its earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, beating 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 business had revenue of $214.65 million for the quarter, compared to analysts’ expectations of $210.04 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts predict that Rapid7, Inc. will post 0.98 earnings per share for the current year.

Institutional Trading of Rapid7

A number of hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. grew its position in Rapid7 by 252.0% during the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock valued at $164,236,000 after acquiring an additional 2,719,791 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Rapid7 by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock valued at $58,330,000 after purchasing an additional 15,287 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Rapid7 by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 511,088 shares of the technology company’s stock valued at $20,387,000 after purchasing an additional 9,190 shares during the last quarter. Fred Alger Management LLC raised its position in Rapid7 by 0.3% in the 2nd quarter. Fred Alger Management LLC now owns 494,509 shares of the technology company’s stock worth $21,378,000 after purchasing an additional 1,297 shares during the period. Finally, Thematics Asset Management lifted its stake in Rapid7 by 33.0% in the third quarter. Thematics Asset Management now owns 399,000 shares of the technology company’s stock worth $15,916,000 after purchasing an additional 99,000 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. DA Davidson boosted their price target on shares of Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. UBS Group decreased their price target on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Jefferies Financial Group initiated coverage on Rapid7 in a research report on Wednesday, October 16th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $42.00 price objective (down previously from $48.00) on shares of Rapid7 in a report on Friday, January 17th. Fifteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.