Insider Selling: Rapid7 (RPD) Director Sells 60,000 Shares of Stock

Rapid7 (NASDAQ:RPD) Director Michael J. Berry sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $32.67, for a total value of $1,960,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Shares of Rapid7 traded down $1.26, reaching $32.05, during mid-day trading on Thursday, according to MarketBeat Ratings. 326,200 shares of the company’s stock were exchanged, compared to its average volume of 434,517. The firm has a market cap of $1.51 billion, a P/E ratio of -30.52 and a beta of 0.92. Rapid7 has a twelve month low of $14.74 and a twelve month high of $33.70.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Tuesday, May 8th. The technology company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.02. The company had revenue of $54.52 million for the quarter, compared to analyst estimates of $52.23 million. Rapid7 had a negative return on equity of 122.32% and a negative net margin of 24.40%. Rapid7’s revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.14) earnings per share. analysts anticipate that Rapid7 will post -0.97 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its position in Rapid7 by 236.8% in the 4th quarter. Wells Fargo & Company MN now owns 364,529 shares of the technology company’s stock valued at $6,802,000 after buying an additional 256,309 shares during the last quarter. Cortina Asset Management LLC raised its position in Rapid7 by 62.8% in the 4th quarter. Cortina Asset Management LLC now owns 556,533 shares of the technology company’s stock valued at $10,385,000 after buying an additional 214,780 shares during the last quarter. Two Sigma Advisers LP raised its position in Rapid7 by 65.8% in the 4th quarter. Two Sigma Advisers LP now owns 181,000 shares of the technology company’s stock valued at $3,377,000 after buying an additional 71,800 shares during the last quarter. Deutsche Bank AG raised its position in Rapid7 by 389.5% in the 4th quarter. Deutsche Bank AG now owns 144,847 shares of the technology company’s stock valued at $2,702,000 after buying an additional 115,256 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Rapid7 by 19.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 85,554 shares of the technology company’s stock valued at $1,597,000 after buying an additional 14,211 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have issued reports on RPD. Rosenblatt Securities restated a “buy” rating and set a $37.00 target price on shares of Rapid7 in a report on Thursday, May 10th. Needham & Company LLC raised their target price on Rapid7 from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 10th. Barclays restated a “buy” rating and set a $36.00 target price on shares of Rapid7 in a report on Thursday, May 10th. ValuEngine upgraded Rapid7 from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 9th. Finally, Stifel Nicolaus raised their price target on Rapid7 from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, May 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $31.07.

About Rapid7

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

Insider Buying and Selling by Quarter for Rapid7 (NASDAQ:RPD)

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