Christina Luconi Sells 12,551 Shares of Rapid7, Inc. (NASDAQ:RPD) Stock

Rapid7, Inc. (NASDAQ:RPD) insider Christina Luconi sold 12,551 shares of the company’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the transaction, the insider now directly owns 58,165 shares in the company, valued at approximately $1,344,774.80. This trade represents a 17.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Rapid7 Stock Up 7.9 %

RPD traded up $1.81 on Wednesday, reaching $24.75. The company’s stock had a trading volume of 1,391,861 shares, compared to its average volume of 868,330. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 63.46 and a beta of 0.99. Rapid7, Inc. has a fifty-two week low of $21.42 and a fifty-two week high of $50.55. The stock has a 50 day moving average of $30.84 and a two-hundred day moving average of $36.83.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. As a group, analysts anticipate that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Rapid7 from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Stephens started coverage on shares of Rapid7 in a report on Tuesday, April 1st. They issued an “equal weight” rating and a $33.00 target price for the company. Robert W. Baird decreased their price target on Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus dropped their price objective on Rapid7 from $42.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Fifteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Rapid7 currently has an average rating of “Hold” and a consensus target price of $39.05.

Institutional Trading of Rapid7

Hedge funds and other institutional investors have recently made changes to their positions in the company. Green Alpha Advisors LLC grew its stake in Rapid7 by 88.2% during the 1st quarter. Green Alpha Advisors LLC now owns 26,249 shares of the technology company’s stock worth $696,000 after buying an additional 12,300 shares during the last quarter. Rhumbline Advisers grew its position in shares of Rapid7 by 2.5% during the first quarter. Rhumbline Advisers now owns 91,191 shares of the technology company’s stock worth $2,417,000 after acquiring an additional 2,262 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Rapid7 by 2,069.2% in the 1st quarter. GAMMA Investing LLC now owns 5,488 shares of the technology company’s stock valued at $145,000 after acquiring an additional 5,235 shares during the period. Versant Capital Management Inc raised its position in Rapid7 by 5,311.1% in the 1st quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company’s stock valued at $39,000 after purchasing an additional 1,434 shares during the last quarter. Finally, CSS LLC IL purchased a new position in Rapid7 during the 4th quarter worth $837,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.