Rapid7, Inc. (NASDAQ:RPD – Get Rating) shares rose 5.2% during trading on Friday . The company traded as high as $38.43 and last traded at $38.38. Approximately 267,837 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 821,580 shares. The stock had previously closed at $36.50.
Analyst Ratings Changes
RPD has been the subject of a number of analyst reports. Canaccord Genuity Group initiated coverage on Rapid7 in a research report on Tuesday, October 11th. They issued a "buy" rating and a $60.00 price target for the company. DA Davidson began coverage on Rapid7 in a research report on Thursday, January 12th. They set a "neutral" rating and a $34.00 target price for the company. StockNews.com upgraded Rapid7 from a "sell" rating to a "hold" rating in a research report on Saturday, November 5th. Piper Sandler cut their target price on Rapid7 from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, January 5th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Rapid7 in a research note on Thursday, October 27th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $61.17.
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Rapid7 Trading Up 5.8 %
The firm has a fifty day simple moving average of $32.93 and a 200 day simple moving average of $45.91.
Rapid7 (NASDAQ:RPD – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The technology company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.06. The company had revenue of $175.77 million during the quarter, compared to analysts' expectations of $176.13 million. As a group, equities analysts predict that Rapid7, Inc. will post -1.86 earnings per share for the current fiscal year.
Insider Transactions at Rapid7
In other Rapid7 news, CEO Corey E. Thomas sold 41,619 shares of the business's stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $29.19, for a total transaction of $1,214,858.61. Following the completion of the sale, the chief executive officer now directly owns 428,074 shares in the company, valued at approximately $12,495,480.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Rapid7 news, CEO Corey E. Thomas sold 41,619 shares of the business's stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $29.19, for a total transaction of $1,214,858.61. Following the completion of the sale, the chief executive officer now directly owns 428,074 shares in the company, valued at approximately $12,495,480.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Timothy M. Adams acquired 2,500 shares of the firm's stock in a transaction that occurred on Monday, December 5th. The stock was acquired at an average price of $30.00 per share, for a total transaction of $75,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 109,294 shares of the company's stock, valued at approximately $3,278,820. The disclosure for this purchase can be found here. Insiders sold 124,857 shares of company stock valued at $3,923,423 in the last quarter. 2.80% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in RPD. Vanguard Group Inc. grew its holdings in shares of Rapid7 by 1.2% during the third quarter. Vanguard Group Inc. now owns 5,446,543 shares of the technology company's stock worth $233,657,000 after purchasing an additional 64,816 shares during the last quarter. Wasatch Advisors Inc. boosted its stake in shares of Rapid7 by 11.0% during the first quarter. Wasatch Advisors Inc. now owns 2,454,833 shares of the technology company's stock worth $273,076,000 after buying an additional 243,040 shares during the period. First Trust Advisors LP boosted its stake in shares of Rapid7 by 8.2% during the third quarter. First Trust Advisors LP now owns 2,113,327 shares of the technology company's stock worth $90,662,000 after buying an additional 160,922 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Rapid7 by 5.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,039,366 shares of the technology company's stock worth $136,229,000 after buying an additional 99,953 shares during the period. Finally, Pictet Asset Management SA boosted its stake in shares of Rapid7 by 4.7% during the second quarter. Pictet Asset Management SA now owns 1,730,701 shares of the technology company's stock worth $115,611,000 after buying an additional 77,350 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.
About Rapid7
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Rapid7, Inc engages in the provision of cyber security analytics and automation services. Its products include Metasploit, Nexpose, AppSpider, tCell by Rapid7, as well as insight platforms such as InsightDR, InsightIVM, InsightAppSec, InsightConnect, and InsightOps. The firm also offers security and product consulting services.
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