Rapid7 Target of Unusually High Options Trading (RPD)

Rapid7 Inc (NASDAQ:RPD) saw unusually large options trading activity on Monday. Stock traders bought 1,297 call options on the stock. This is an increase of 1,237% compared to the average daily volume of 97 call options.

In other Rapid7 news, major shareholder Bain Capital Venture Investors sold 2,000,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $21.01, for a total value of $42,020,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lee David Weiner sold 20,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $18.41, for a total transaction of $368,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,345,246 shares of company stock valued at $49,165,672. 56.90% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in Rapid7 by 19.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 46,759 shares of the technology company’s stock worth $787,000 after acquiring an additional 7,588 shares during the last quarter. Citigroup Inc. grew its holdings in Rapid7 by 1,398.9% in the 2nd quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock worth $165,000 after acquiring an additional 9,135 shares during the last quarter. Citadel Advisors LLC grew its holdings in Rapid7 by 226.8% in the 3rd quarter. Citadel Advisors LLC now owns 148,657 shares of the technology company’s stock worth $2,616,000 after acquiring an additional 103,164 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in Rapid7 in the 2nd quarter worth $957,000. Finally, Northern Trust Corp grew its holdings in Rapid7 by 5.8% in the 2nd quarter. Northern Trust Corp now owns 249,189 shares of the technology company’s stock worth $4,194,000 after acquiring an additional 13,723 shares during the last quarter. 68.49% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have issued reports on RPD shares. Rosenblatt Securities reiterated a “buy” rating and issued a $23.00 target price on shares of Rapid7 in a research note on Thursday, December 14th. Needham & Company LLC initiated coverage on shares of Rapid7 in a research report on Monday, October 23rd. They set a “buy” rating and a $23.00 price objective on the stock. Zacks Investment Research upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Saturday, January 13th. Royal Bank of Canada reiterated a “buy” rating and issued a $30.00 target price on shares of Rapid7 in a research report on Friday, January 26th. Finally, Northland Securities set a $28.00 target price on shares of Rapid7 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $24.29.

Shares of Rapid7 (NASDAQ RPD) traded up $0.95 during trading hours on Wednesday, reaching $24.31. 538,547 shares of the company were exchanged, compared to its average volume of 516,692. The stock has a market cap of $1,054.57, a PE ratio of -22.93 and a beta of 1.12. Rapid7 has a one year low of $13.42 and a one year high of $25.95.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Monday, February 12th. The technology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.11). The firm had revenue of $57.73 million during the quarter, compared to the consensus estimate of $57.39 million. Rapid7 had a negative return on equity of 130.89% and a negative net margin of 22.63%. Rapid7’s revenue was up 28.2% on a year-over-year basis. During the same period last year, the business earned ($0.13) EPS. equities research analysts anticipate that Rapid7 will post -1.01 EPS for the current fiscal year.

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Rapid7 Company Profile

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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