Rapid7 (NASDAQ:RPD) Sees Unusually-High Trading Volume

Rapid7, Inc. (NASDAQ:RPD) shares saw unusually-strong trading volume on Wednesday . Approximately 2,139,190 shares were traded during trading, an increase of 133% from the previous session’s volume of 916,446 shares.The stock last traded at $41.14 and had previously closed at $37.98.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RPD. Susquehanna reduced their target price on shares of Rapid7 from $55.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, May 13th. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a research report on Friday, May 10th. StockNews.com cut Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Piper Sandler reduced their price objective on shares of Rapid7 from $56.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus dropped their target price on shares of Rapid7 from $63.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $51.73.

Rapid7 Stock Performance

The company has a market capitalization of $2.66 billion, a PE ratio of -20.83 and a beta of 0.98. The stock has a 50 day moving average price of $39.74 and a two-hundred day moving average price of $49.30.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, May 7th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. The firm had revenue of $205.10 million during the quarter, compared to analysts’ expectations of $204.10 million. Sell-side analysts predict that Rapid7, Inc. will post 0.74 earnings per share for the current year.

Insider Buying and Selling at Rapid7

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 sale, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in Rapid7 during the 1st quarter valued at $36,000. Mather Group LLC. bought a new position in shares of Rapid7 during the 1st quarter worth about $42,000. International Assets Investment Management LLC raised its position in shares of Rapid7 by 3,367.9% during the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after buying an additional 943 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Rapid7 in the first quarter valued at about $83,000. Finally, Financial Connections Group Inc. acquired a new stake in Rapid7 during the fourth quarter worth about $95,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.