Corey E. Thomas Sells 100,000 Shares of Rapid7, Inc. (NASDAQ:RPD) Stock

Rapid7, Inc. (NASDAQ:RPD) CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the transaction, the chief executive officer now owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rapid7 Price Performance

RPD stock opened at $38.90 on Friday. Rapid7, Inc. has a 12-month low of $32.94 and a 12-month high of $61.88. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 61.75 and a beta of 0.96. The company has a 50 day moving average of $40.51 and a two-hundred day moving average of $39.02.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The company had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. On average, research analysts anticipate that Rapid7, Inc. will post 0.98 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RPD. Stifel Nicolaus reiterated a “hold” rating and issued a $42.00 price objective (down from $48.00) on shares of Rapid7 in a report on Friday, January 17th. DA Davidson increased their price objective on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. UBS Group reduced their target price on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Truist Financial reduced their target price on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Finally, Piper Sandler reduced their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.76.

Institutional Investors Weigh In On Rapid7

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its position in Rapid7 by 252.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock worth $164,236,000 after buying an additional 2,719,791 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Rapid7 by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock valued at $58,330,000 after purchasing an additional 15,287 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Rapid7 by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 511,088 shares of the technology company’s stock valued at $20,387,000 after purchasing an additional 9,190 shares in the last quarter. Fred Alger Management LLC raised its holdings in shares of Rapid7 by 0.3% during the 2nd quarter. Fred Alger Management LLC now owns 494,509 shares of the technology company’s stock valued at $21,378,000 after purchasing an additional 1,297 shares in the last quarter. Finally, Thematics Asset Management raised its holdings in shares of Rapid7 by 33.0% during the 3rd quarter. Thematics Asset Management now owns 399,000 shares of the technology company’s stock valued at $15,916,000 after purchasing an additional 99,000 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.