Rapid7 (NASDAQ:RPD) Shares Gap Up to $38.08

Rapid7, Inc. (NASDAQ:RPD)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $38.08, but opened at $39.05. Rapid7 shares last traded at $38.56, with a volume of 19,842 shares.

Analyst Ratings Changes

RPD has been the topic of a number of recent analyst reports. Susquehanna reduced their price objective on Rapid7 from $55.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Barclays dropped their target price on Rapid7 from $60.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 8th. Robert W. Baird dropped their target price on Rapid7 from $62.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. StockNews.com downgraded Rapid7 from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus dropped their target price on Rapid7 from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Rapid7 has an average rating of “Hold” and a consensus price target of $51.73.

Rapid7 Stock Up 2.3 %

The firm has a fifty day simple moving average of $45.88 and a 200-day simple moving average of $52.17.

Insiders Place Their Bets

In other news, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total value of $1,683,751.89. Following the transaction, the chief operating officer now directly owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Comerica Bank boosted its position in Rapid7 by 1.1% during the first quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock valued at $1,243,000 after purchasing an additional 281 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Rapid7 by 1.9% in the third quarter. Arizona State Retirement System now owns 17,184 shares of the technology company’s stock valued at $787,000 after buying an additional 320 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Rapid7 by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock valued at $134,000 after buying an additional 336 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of Rapid7 by 2.0% in the fourth quarter. Natixis Advisors L.P. now owns 17,446 shares of the technology company’s stock valued at $996,000 after buying an additional 344 shares during the last quarter. Finally, Virtu Financial LLC increased its stake in shares of Rapid7 by 7.1% during the first quarter. Virtu Financial LLC now owns 5,198 shares of the technology company’s stock worth $255,000 after purchasing an additional 346 shares during the period. 95.66% of the stock is 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.