Rapid7, Inc. (NASDAQ:RPD) CEO Corey E. Thomas Sells 39,652 Shares of Stock

Rapid7, Inc. (NASDAQ:RPD) CEO Corey E. Thomas sold 39,652 shares of the stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $85.00, for a total transaction of $3,370,420.00. Following the sale, the chief executive officer now directly owns 394,489 shares in the company, valued at $33,531,565. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of RPD opened at $88.16 on Friday. The firm has a 50-day moving average of $81.47. The company has a market cap of $4.86 billion, a price-to-earnings ratio of -43.22 and a beta of 1.30. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 5.29. Rapid7, Inc. has a 52-week low of $45.33 and a 52-week high of $94.60.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Thursday, May 6th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.03. The firm had revenue of $117.50 million during the quarter, compared to analyst estimates of $114.36 million. Rapid7 had a negative net margin of 24.34% and a negative return on equity of 177.30%. Rapid7’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS. As a group, research analysts anticipate that Rapid7, Inc. will post -1.59 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alliancebernstein L.P. boosted its position in shares of Rapid7 by 1,716.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,315,213 shares of the technology company’s stock valued at $118,580,000 after purchasing an additional 1,242,818 shares in the last quarter. Aequim Alternative Investments LP boosted its position in shares of Rapid7 by 932.2% during the 4th quarter. Aequim Alternative Investments LP now owns 993,000 shares of the technology company’s stock valued at $1,072,000 after purchasing an additional 896,800 shares in the last quarter. Norges Bank bought a new position in shares of Rapid7 during the 4th quarter valued at about $54,503,000. Lord Abbett & CO. LLC boosted its position in shares of Rapid7 by 615.3% during the 4th quarter. Lord Abbett & CO. LLC now owns 507,873 shares of the technology company’s stock valued at $45,790,000 after purchasing an additional 436,871 shares in the last quarter. Finally, Washington Harbour Partners LP bought a new position in shares of Rapid7 during the 4th quarter valued at about $34,426,000. Hedge funds and other institutional investors own 97.27% of the company’s stock.

A number of brokerages have weighed in on RPD. Mizuho dropped their target price on shares of Rapid7 from $102.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, May 7th. Piper Sandler raised shares of Rapid7 from a “neutral” rating to an “overweight” rating and set a $100.00 target price on the stock in a report on Monday, March 8th. Raymond James increased their target price on shares of Rapid7 from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, May 7th. Stifel Nicolaus assumed coverage on shares of Rapid7 in a report on Wednesday, February 17th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research cut shares of Rapid7 from a “hold” rating to a “sell” rating in a report on Thursday, May 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $98.10.

Rapid7 Company Profile

Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightIDR, an incident detection and response solution; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.

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