Rapid7 Inc (RPD) COO Sells $1,163,475.00 in Stock

Rapid7 Inc (NASDAQ:RPD) COO Andrew F. Burton sold 22,500 shares of Rapid7 stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $51.71, for a total value of $1,163,475.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

NASDAQ RPD traded down $2.88 during trading on Monday, reaching $50.06. 562,314 shares of the company traded hands, compared to its average volume of 656,593. The company has a current ratio of 1.49, a quick ratio of 1.51 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -49.56 and a beta of 1.20. Rapid7 Inc has a 1-year low of $26.27 and a 1-year high of $57.00.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.24. The company had revenue of $73.20 million for the quarter, compared to the consensus estimate of $69.86 million. Rapid7 had a negative return on equity of 46.34% and a negative net margin of 19.35%. The company’s quarterly revenue was up 34.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.19) earnings per share. On average, analysts predict that Rapid7 Inc will post -0.61 earnings per share for the current year.

Several equities analysts recently issued reports on RPD shares. Morgan Stanley set a $42.00 price target on Rapid7 and gave the company a “hold” rating in a research note on Friday, February 8th. Robert W. Baird started coverage on Rapid7 in a research note on Wednesday, April 3rd. They set an “outperform” rating and a $58.00 price target on the stock. Raymond James upgraded Rapid7 from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $39.00 to $45.00 in a research note on Tuesday, January 29th. Zacks Investment Research lowered Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. Finally, Northland Securities restated a “buy” rating and set a $64.00 price target on shares of Rapid7 in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Rapid7 has an average rating of “Buy” and a consensus price target of $54.67.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SQN Investors LP boosted its holdings in shares of Rapid7 by 260.8% in the 4th quarter. SQN Investors LP now owns 1,567,865 shares of the technology company’s stock worth $48,855,000 after acquiring an additional 1,133,289 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of Rapid7 in the 4th quarter worth approximately $27,223,000. Pictet Asset Management Ltd. acquired a new position in shares of Rapid7 in the 1st quarter worth approximately $21,259,000. First Trust Advisors LP boosted its holdings in shares of Rapid7 by 305.0% in the 1st quarter. First Trust Advisors LP now owns 423,415 shares of the technology company’s stock worth $21,429,000 after acquiring an additional 318,869 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC acquired a new position in shares of Rapid7 in the 4th quarter worth approximately $9,237,000. 85.47% of the stock is currently owned by institutional investors.

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About Rapid7

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

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