Reeny Sondhi Sells 3,663 Shares of Rapid7, Inc. (NASDAQ:RPD) Stock

Rapid7, Inc. (NASDAQ:RPD) Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now directly owns 17,460 shares of the company’s stock, valued at $698,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rapid7 Trading Up 0.6 %

RPD traded up $0.25 during midday trading on Wednesday, hitting $39.20. 517,608 shares of the company traded hands, compared to its average volume of 869,191. Rapid7, Inc. has a 52-week low of $32.94 and a 52-week high of $61.88. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of -19.12 and a beta of 0.96. The business has a 50 day simple moving average of $36.58 and a two-hundred day simple moving average of $40.28.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The business had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. During the same quarter last year, the firm earned ($0.33) earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. Equities research analysts anticipate that Rapid7, Inc. will post 0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RPD shares. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $52.00 to $43.00 in a research note on Wednesday, August 7th. UBS Group reduced their target price on Rapid7 from $65.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on Rapid7 from $46.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. KeyCorp upgraded shares of Rapid7 to a “hold” rating in a research report on Monday, June 17th. Finally, Royal Bank of Canada downgraded shares of Rapid7 from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $50.00 to $40.00 in a report on Friday, September 20th. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Rapid7 presently has a consensus rating of “Hold” and an average target price of $46.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Partners LLC bought a new position in shares of Rapid7 during the 2nd quarter valued at about $35,000. Fidelis Capital Partners LLC bought a new stake in shares of Rapid7 in the 1st quarter valued at $36,000. Mather Group LLC. purchased a new stake in shares of Rapid7 during the first quarter valued at approximately $42,000. Summit Securities Group LLC purchased a new position in Rapid7 during the 2nd quarter valued at about $43,000. Finally, Financial Connections Group Inc. bought a new position in shares of Rapid7 during the 2nd quarter valued at about $72,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

About Rapid7

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.