Insider Selling: Rapid7, Inc. (RPD) Chairman Sells 52,770 Shares of Stock
Rapid7, Inc. (NASDAQ:RPD) Chairman Alan Matthews sold 52,770 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $17.22, for a total value of $908,699.40. Following the completion of the transaction, the chairman now directly owns 3,152,177 shares in the company, valued at approximately $54,280,487.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Rapid7, Inc. (NASDAQ RPD) opened at 17.77 on Friday. The company’s 50-day moving average price is $17.46 and its 200-day moving average price is $16.12. The firm’s market cap is $766.08 million. Rapid7, Inc. has a 12 month low of $10.63 and a 12 month high of $18.30.
Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Monday, August 7th. The technology company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. The company had revenue of $47.44 million for the quarter, compared to analysts’ expectations of $46.31 million. Rapid7 had a negative net margin of 23.67% and a negative return on equity of 98.26%. Rapid7’s revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.22) EPS. On average, analysts predict that Rapid7, Inc. will post ($0.62) EPS for the current year.
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A number of institutional investors have recently added to or reduced their stakes in RPD. ETF Managers Group LLC purchased a new position in Rapid7 in the 2nd quarter valued at approximately $19,395,000. Laurion Capital Management LP purchased a new position in Rapid7 in the 2nd quarter valued at approximately $11,614,000. Wasatch Advisors Inc. grew its stake in Rapid7 by 51.1% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,975,177 shares of the technology company’s stock valued at $33,242,000 after buying an additional 668,273 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new position in Rapid7 in the 2nd quarter valued at approximately $7,473,000. Finally, Marshall Wace North America L.P. purchased a new position in Rapid7 in the 2nd quarter valued at approximately $4,925,000. Institutional investors and hedge funds own 71.01% of the company’s stock.
Several equities analysts have recently commented on RPD shares. Monness Crespi & Hardt started coverage on Rapid7 in a research report on Tuesday, May 30th. They issued a “buy” rating and a $23.00 target price on the stock. Northland Securities reaffirmed a “buy” rating and issued a $23.00 target price on shares of Rapid7 in a research report on Friday, July 14th. BidaskClub raised Rapid7 from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research downgraded Rapid7 from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Susquehanna Bancshares Inc started coverage on Rapid7 in a research report on Wednesday, June 7th. They issued a “neutral” rating and a $20.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Rapid7 currently has an average rating of “Hold” and a consensus price target of $19.50.
Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.
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