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 the firm’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $29.19, for a total value of $1,214,858.61. Following the completion of the transaction, the chief executive officer now directly owns 428,074 shares in the company, valued at $12,495,480.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Rapid7 Trading Down 0.8 %

NASDAQ:RPD opened at $28.57 on Friday. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -10.43 and a beta of 1.37. Rapid7, Inc. has a twelve month low of $26.49 and a twelve month high of $134.74. The stock has a fifty day simple moving average of $41.62 and a 200-day simple moving average of $58.24.

Rapid7 (NASDAQ:RPDGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The technology company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.06. The company had revenue of $175.77 million for the quarter, compared to the consensus estimate of $176.13 million. As a group, equities research analysts predict that Rapid7, Inc. will post -1.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank lifted its holdings in shares of Rapid7 by 18.9% in the 1st quarter. Comerica Bank now owns 3,262 shares of the technology company’s stock worth $361,000 after buying an additional 519 shares during the period. Park Avenue Securities LLC grew its holdings in Rapid7 by 15.7% during the 1st quarter. Park Avenue Securities LLC now owns 7,497 shares of the technology company’s stock worth $834,000 after acquiring an additional 1,015 shares in the last quarter. Signaturefd LLC increased its position in Rapid7 by 37.1% during the 1st quarter. Signaturefd LLC now owns 421 shares of the technology company’s stock valued at $47,000 after purchasing an additional 114 shares during the period. Arizona State Retirement System raised its holdings in shares of Rapid7 by 1.7% in the 1st quarter. Arizona State Retirement System now owns 14,501 shares of the technology company’s stock valued at $1,613,000 after purchasing an additional 238 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in shares of Rapid7 in the 1st quarter worth approximately $288,000.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RPD. Wolfe Research downgraded Rapid7 from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 3rd. Truist Financial lowered Rapid7 from a “buy” rating to a “hold” rating and cut their price target for the stock from $80.00 to $40.00 in a research note on Thursday, November 3rd. Citigroup lowered their price objective on Rapid7 from $80.00 to $78.00 in a research report on Thursday, August 4th. BTIG Research began coverage on Rapid7 in a research note on Friday, September 23rd. They issued a “neutral” rating for the company. Finally, Raymond James decreased their target price on Rapid7 from $85.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, November 3rd. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Rapid7 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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