Rapid7, Inc. (NASDAQ:RPD) CEO Corey E. Thomas Sells 41,619 Shares

Rapid7, Inc. (NASDAQ:RPDGet Rating) CEO Corey E. Thomas sold 41,619 shares of Rapid7 stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $28.40, for a total value of $1,181,979.60. Following the transaction, the chief executive officer now directly owns 428,074 shares in the company, valued at $12,157,301.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Rapid7 Stock Down 0.8 %

Shares of RPD opened at $28.57 on Friday. The stock has a market cap of $1.69 billion, a P/E ratio of -10.43 and a beta of 1.37. The business’s fifty day moving average is $41.62 and its 200 day moving average is $58.24. Rapid7, Inc. has a 12-month low of $26.49 and a 12-month high of $134.74.

Rapid7 (NASDAQ:RPDGet Rating) last posted its earnings results on Wednesday, November 2nd. The technology company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.06. The business had revenue of $175.77 million for the quarter, compared to the consensus estimate of $176.13 million. On average, analysts expect that Rapid7, Inc. will post -1.87 EPS for the current year.

Institutional Investors Weigh In On Rapid7

Several institutional investors have recently bought and sold shares of the stock. Signaturefd LLC boosted its holdings in Rapid7 by 37.1% during the 1st quarter. Signaturefd LLC now owns 421 shares of the technology company’s stock worth $47,000 after acquiring an additional 114 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Rapid7 by 9.1% in the 1st quarter. HighTower Advisors LLC now owns 2,354 shares of the technology company’s stock worth $261,000 after buying an additional 196 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Rapid7 by 103.8% in the second quarter. First Horizon Advisors Inc. now owns 434 shares of the technology company’s stock valued at $28,000 after acquiring an additional 221 shares in the last quarter. Elequin Capital LP purchased a new stake in shares of Rapid7 during the first quarter valued at approximately $25,000. Finally, Arizona State Retirement System lifted its holdings in Rapid7 by 1.7% during the first quarter. Arizona State Retirement System now owns 14,501 shares of the technology company’s stock worth $1,613,000 after acquiring an additional 238 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial lowered Rapid7 from a “buy” rating to a “hold” rating and cut their price objective for the stock from $80.00 to $40.00 in a research note on Thursday, November 3rd. StockNews.com upgraded shares of Rapid7 from a “sell” rating to a “hold” rating in a research report on Saturday, November 5th. Mizuho cut shares of Rapid7 from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $70.00 to $45.00 in a research report on Thursday, November 3rd. Robert W. Baird restated an “outperform” rating and issued a $90.00 target price on shares of Rapid7 in a report on Wednesday, October 19th. Finally, BTIG Research assumed coverage on Rapid7 in a report on Friday, September 23rd. They set a “neutral” rating for the company. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $68.63.

Rapid7 Company Profile

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Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a solution that integrates posture management, workload protection, infrastructure entitlements management, infrastructure-as-code security, and Kubernetes protection; InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.

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