Insider Selling: Rapid7, Inc. (NASDAQ:RPD) Insider Sells 12,551 Shares of Stock

Rapid7, Inc. (NASDAQ:RPD) insider Christina Luconi sold 12,551 shares of Rapid7 stock in a transaction that occurred 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 owns 58,165 shares in the company, valued at $1,344,774.80. This trade represents a 17.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Rapid7 Stock Up 7.9 %

Shares of RPD traded up $1.81 on Wednesday, hitting $24.75. 1,391,861 shares of the stock traded hands, compared to its average volume of 868,330. Rapid7, Inc. has a 1 year low of $21.42 and a 1 year high of $50.55. The stock’s 50 day moving average is $30.84 and its two-hundred day moving average is $36.83. The firm has a market capitalization of $1.58 billion, a P/E ratio of 63.46 and a beta of 0.99.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data 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 negative return on equity of 130.41% and a net margin of 3.46%. Research analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RPD. Jefferies Financial Group dropped their price objective on shares of Rapid7 from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a research report on Thursday, February 13th. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. reduced their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Finally, Stephens began coverage on Rapid7 in a research note on Tuesday, April 1st. They issued an “equal weight” rating and a $33.00 price target on the stock. Fifteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Rapid7 presently has a consensus rating of “Hold” and an average price target of $39.05.

Institutional Inflows and Outflows

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