Rep. Jefferson Shreve Sells Off Shares of Rapid7, Inc. (NASDAQ:RPD)

Representative Jefferson Shreve (R-Indiana) recently sold shares of Rapid7, Inc. (NASDAQ:RPD). In a filing disclosed on March 09th, the Representative disclosed that they had sold between $15,001 and $50,000 in Rapid7 stock on February 24th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of RTX (NYSE:RTX) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Royal Gold (NASDAQ:RGLD) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of QUALCOMM (NASDAQ:QCOM) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 2/24/2025.
• Sold $15,001 – $50,000 in shares of Norfolk Southern (NYSE:NSC) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of CoStar Group (NASDAQ:CSGP) on 2/24/2025.
• Purchased $50,001 – $100,000 in shares of AbbVie (NYSE:ABBV) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Johnson & Johnson (NYSE:JNJ) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of The Cigna Group (NYSE:CI) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Adobe (NASDAQ:ADBE) on 2/24/2025.

Rapid7 Price Performance

Shares of RPD opened at $27.54 on Wednesday. Rapid7, Inc. has a 1-year low of $27.39 and a 1-year high of $54.67. The stock has a market cap of $1.76 billion, a PE ratio of 70.62 and a beta of 0.92. The firm has a fifty day moving average price of $36.16 and a 200 day moving average price of $38.17.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. As a group, equities analysts expect that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Rapid7 by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock valued at $346,721,000 after purchasing an additional 60,095 shares during the last quarter. JANA Partners Management LP grew its position in shares of Rapid7 by 0.9% in the fourth quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company’s stock valued at $148,454,000 after purchasing an additional 34,589 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Rapid7 by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock valued at $58,330,000 after purchasing an additional 15,287 shares during the last quarter. Shapiro Capital Management LLC grew its position in shares of Rapid7 by 295.9% in the fourth quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock valued at $51,935,000 after purchasing an additional 964,899 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Rapid7 by 6.8% in the fourth quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company’s stock valued at $50,518,000 after purchasing an additional 79,836 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on RPD. Truist Financial reduced their target price on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Raymond James reduced their target price on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Finally, Scotiabank cut their price target on shares of Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $41.22.

Insider Activity

In related news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the sale, the chief executive officer now owns 431,469 shares in the company, valued at approximately $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

Email editor@ballotpedia.org to notify us of updates to this biography.
Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.