Reeny Sondhi Sells 3,663 Shares of Rapid7, Inc. (NASDAQ:RPD) Stock

Rapid7, Inc. (NASDAQ:RPD) Director Reeny Sondhi sold 3,663 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the sale, the director now directly owns 17,460 shares in the company, valued at approximately $698,400. The sale was disclosed in a document filed with the SEC, which is available at this link.

Rapid7 Price Performance

Shares of RPD traded up $0.25 during mid-day trading on Wednesday, reaching $39.20. The company had a trading volume of 517,608 shares, compared to its average volume of 869,191. The company’s 50-day moving average is $36.58 and its 200-day moving average is $40.28. The company has a market capitalization of $2.46 billion, a P/E ratio of -19.12 and a beta of 0.96. Rapid7, Inc. has a twelve month low of $32.94 and a twelve month high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The firm had revenue of $207.99 million for the quarter, compared to analyst estimates of $204.04 million. During the same period in the prior year, the firm posted ($0.33) EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, equities analysts expect that Rapid7, Inc. will post 0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its stake in shares of Rapid7 by 252.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock worth $164,236,000 after purchasing an additional 2,719,791 shares during the period. First Trust Advisors LP raised its holdings in Rapid7 by 49.2% in the 4th quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock valued at $194,668,000 after buying an additional 1,124,429 shares during the period. Wasatch Advisors LP grew its stake in Rapid7 by 12.8% during the 4th quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company’s stock worth $80,514,000 after purchasing an additional 160,531 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Rapid7 by 46.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock valued at $61,512,000 after purchasing an additional 397,968 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Rapid7 by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock valued at $24,691,000 after purchasing an additional 18,907 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price target on Rapid7 from $46.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada downgraded Rapid7 from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $50.00 to $40.00 in a research report on Friday, September 20th. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $52.00 to $43.00 in a research note on Wednesday, August 7th. KeyCorp raised Rapid7 to a “hold” rating in a research report on Monday, June 17th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $46.00 price target on shares of Rapid7 in a research note on Wednesday, July 10th. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.13.

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.