Traders Buy Large Volume of Rapid7 Put Options (RPD)

Rapid7 Inc (NASDAQ:RPD) saw unusually large options trading on Monday. Stock traders purchased 1,076 put options on the stock. This represents an increase of approximately 1,755% compared to the average daily volume of 58 put options.

In related news, major shareholder Bain Capital Venture Investors sold 2,000,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $21.01, for a total transaction of $42,020,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lee David Weiner sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $18.41, for a total value of $368,200.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,345,246 shares of company stock valued at $49,165,672. 56.90% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Wasatch Advisors Inc. raised its stake in shares of 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 purchasing an additional 668,273 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Rapid7 in the 3rd quarter valued at about $7,896,000. Bank of New York Mellon Corp grew its holdings in shares of Rapid7 by 417.9% in the 4th quarter. Bank of New York Mellon Corp now owns 447,864 shares of the technology company’s stock valued at $8,357,000 after acquiring an additional 361,392 shares in the last quarter. Cortina Asset Management LLC bought a new position in shares of Rapid7 in the 3rd quarter valued at about $6,015,000. Finally, Frontier Capital Management Co. LLC grew its holdings in shares of Rapid7 by 62.3% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 720,672 shares of the technology company’s stock valued at $12,684,000 after acquiring an additional 276,627 shares in the last quarter. 68.49% of the stock is currently owned by institutional investors.

Shares of Rapid7 (NASDAQ:RPD) traded up $0.95 on Wednesday, reaching $24.31. The company’s stock had a trading volume of 538,547 shares, compared to its average volume of 516,692. The company has a market cap of $1,054.57, a price-to-earnings ratio of -22.93 and a beta of 1.12. Rapid7 has a 52-week low of $13.42 and a 52-week high of $25.95.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Monday, February 12th. The technology company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate 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 net margin of 22.63% and a negative return on equity of 130.89%. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.13) earnings per share. equities analysts predict that Rapid7 will post -1.01 earnings per share for the current year.

Several research firms have recently weighed in on RPD. BidaskClub upgraded Rapid7 from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley upped their price objective on Rapid7 from $20.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective (up from $23.00) on shares of Rapid7 in a research note on Monday. Monness Crespi & Hardt reiterated a “buy” rating and issued a $27.00 price objective (up from $23.00) on shares of Rapid7 in a research note on Tuesday. Finally, ValuEngine upgraded Rapid7 from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Rapid7 currently has an average rating of “Buy” and a consensus target price of $24.29.

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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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