Rapid7 (NASDAQ:RPD) Hits New 12-Month Low – Time to Sell?

Rapid7, Inc. (NASDAQ:RPD) shares hit a new 52-week low during trading on Monday . The company traded as low as $25.98 and last traded at $26.47, with a volume of 43637 shares traded. The stock had previously closed at $27.59.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RPD shares. Robert W. Baird reduced their target price on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Morgan Stanley started coverage on Rapid7 in a report on Tuesday, March 18th. They issued an “equal weight” rating and a $33.00 target price on the stock. Scotiabank dropped their price target on Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. UBS Group cut their price target on Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Fifteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.94.

Rapid7 Stock Performance

The company has a 50 day moving average price of $33.10 and a two-hundred day moving average price of $37.37. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 67.27 and a beta of 0.92.

Rapid7 (NASDAQ:RPD) last announced 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%. On average, equities analysts expect that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. This trade represents a 18.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Rapid7

Institutional investors and hedge funds have recently made changes to their positions in the company. Shapiro Capital Management LLC raised its holdings in shares of Rapid7 by 295.9% in the fourth quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock valued at $51,935,000 after buying an additional 964,899 shares during the last quarter. Estuary Capital Management LP purchased a new position in shares of Rapid7 in the 4th quarter valued at approximately $20,714,000. Dendur Capital LP purchased a new stake in shares of Rapid7 during the fourth quarter worth approximately $19,190,000. Raymond James Financial Inc. purchased a new position in Rapid7 in the 4th quarter valued at $12,050,000. Finally, Marshall Wace LLP grew its position in Rapid7 by 144.2% during the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock worth $19,137,000 after buying an additional 280,913 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.