Insider Selling: Rapid7, Inc. (NASDAQ:RPD) Director Sells 3,663 Shares of Stock

Rapid7, Inc. (NASDAQ:RPD) Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the sale, the director now directly owns 17,460 shares in the company, valued at approximately $698,400. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Rapid7 Trading Down 4.1 %

Shares of RPD opened at $37.61 on Friday. The business’s 50-day moving average price is $36.59 and its 200 day moving average price is $40.27. The stock has a market capitalization of $2.36 billion, a P/E ratio of -18.35 and a beta of 0.96. Rapid7, Inc. has a 1-year low of $32.94 and a 1-year high of $61.88.

Rapid7 (NASDAQ:RPD) last released its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.06. The business had revenue of $207.99 million for the quarter, compared to the consensus estimate of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.33) earnings per share. On average, research analysts predict that Rapid7, Inc. will post 0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RPD. Morgan Stanley reiterated an “equal weight” rating and issued a $46.00 target price on shares of Rapid7 in a research note on Wednesday, July 10th. Royal Bank of Canada lowered shares of Rapid7 from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $50.00 to $40.00 in a research note on Friday, September 20th. KeyCorp upgraded shares of Rapid7 to a “hold” rating in a research note on Monday, June 17th. JPMorgan Chase & Co. reduced their price objective on Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and lowered their target price for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Fourteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Rapid7 has an average rating of “Hold” and a consensus price target of $46.13.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RPD. Quest Partners LLC acquired a new position in shares of Rapid7 during the 2nd quarter worth $35,000. Fidelis Capital Partners LLC bought a new stake in Rapid7 in the first quarter worth $36,000. Mather Group LLC. acquired a new position in Rapid7 during the first quarter worth $42,000. Summit Securities Group LLC bought a new position in Rapid7 during the second quarter valued at about $43,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Rapid7 in the second quarter worth about $72,000. 95.66% of the stock is owned by institutional investors and hedge funds.

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.