Rapid7 (NASDAQ:RPD) Reaches New 1-Year Low – Time to Sell?

Rapid7, Inc. (NASDAQ:RPD) hit a new 52-week low during trading on Thursday . The company traded as low as $32.73 and last traded at $32.75, with a volume of 61900 shares trading hands. The stock had previously closed at $33.72.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RPD. Raymond James reduced their price target on Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Truist Financial decreased their target price on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Citigroup decreased their price target on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Barclays dropped their price objective on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Finally, DA Davidson boosted their price target on Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Fifteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $41.22.

Rapid7 Trading Down 3.0 %

The stock has a market cap of $2.00 billion, a PE ratio of 81.31 and a beta of 0.96. The company’s 50 day moving average is $38.49 and its 200-day moving average is $38.71.

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 analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. As a group, analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current year.

Insider Activity

In related news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the sale, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Shapiro Capital Management LLC grew its position 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 valued at $51,935,000 after buying an additional 964,899 shares during the last quarter. Estuary Capital Management LP acquired a new stake in shares of Rapid7 during the 4th quarter worth approximately $20,714,000. Dendur Capital LP bought a new stake in shares of Rapid7 in the 4th quarter worth approximately $19,190,000. Raymond James Financial Inc. acquired a new position in Rapid7 during the 4th quarter valued at approximately $12,050,000. Finally, Marshall Wace LLP increased its position in Rapid7 by 144.2% in 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. 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.