Corey E. Thomas Sells 25,000 Shares of Rapid7 Inc. (RPD) Stock
Rapid7 Inc. (NASDAQ:RPD) insider Corey E. Thomas sold 25,000 shares of Rapid7 stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $18.05, for a total transaction of $451,250.00. Following the transaction, the insider now directly owns 194,757 shares in the company, valued at $3,515,363.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Rapid7 Inc. (NASDAQ:RPD) opened at 16.62 on Friday. The company’s market cap is $675.32 million. The company has a 50 day moving average of $17.59 and a 200-day moving average of $14.22. Rapid7 Inc. has a 52 week low of $9.05 and a 52 week high of $23.62.
Rapid7 (NASDAQ:RPD) last issued its earnings results on Monday, August 8th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. The company had revenue of $37.30 million for the quarter, compared to the consensus estimate of $36.29 million. Rapid7 had a negative return on equity of 100.88% and a negative net margin of 46.51%. The firm’s quarterly revenue was up 44.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.61) EPS. On average, equities research analysts expect that Rapid7 Inc. will post ($0.90) earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in RPD. Vanguard Group Inc. increased its position in Rapid7 by 28.2% in the second quarter. Vanguard Group Inc. now owns 1,036,961 shares of the company’s stock worth $13,046,000 after buying an additional 227,869 shares in the last quarter. Westfield Capital Management Co. LP increased its position in Rapid7 by 6.5% in the second quarter. Westfield Capital Management Co. LP now owns 808,573 shares of the company’s stock worth $10,172,000 after buying an additional 49,030 shares in the last quarter. Granahan Investment Management Inc. MA increased its position in Rapid7 by 153.0% in the first quarter. Granahan Investment Management Inc. MA now owns 489,600 shares of the company’s stock worth $6,399,000 after buying an additional 296,100 shares in the last quarter. BlackRock Fund Advisors increased its position in Rapid7 by 149.7% in the second quarter. BlackRock Fund Advisors now owns 470,872 shares of the company’s stock worth $5,924,000 after buying an additional 282,298 shares in the last quarter. Finally, Polaris Venture Management Co. VI L.L.C. purchased a new position in Rapid7 during the first quarter worth approximately $5,906,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.
A number of research firms have recently commented on RPD. Cowen and Company reissued a “buy” rating on shares of Rapid7 in a research report on Sunday, June 26th. Zacks Investment Research raised shares of Rapid7 from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Macquarie began coverage on shares of Rapid7 in a research report on Friday, July 8th. They set a “neutral” rating and a $16.00 target price on the stock. Finally, Barclays PLC set a $17.00 target price on shares of Rapid7 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $20.67.
Rapid7, Inc is a provider of security data and analytics solutions that enable organizations to implement an active approach to cyber security. The Company’s Rapid7 Insight Platform is a security data and analytics platform that provides solutions to cyber security that enables organizations to find and eliminate critical weaknesses and detect attacks in their information technology (IT) environments.
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