Rapid7, Inc. (NASDAQ:RPD) CEO Sells $3,370,420.00 in Stock

Rapid7, Inc. (NASDAQ:RPD) CEO Corey E. Thomas sold 39,652 shares of Rapid7 stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $85.00, for a total transaction of $3,370,420.00. Following the completion of the transaction, the chief executive officer now directly owns 394,489 shares in the company, valued at approximately $33,531,565. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of RPD stock traded up $1.76 during trading on Thursday, hitting $88.16. 279,343 shares of the company were exchanged, compared to its average volume of 612,713. The company has a debt-to-equity ratio of 5.29, a current ratio of 2.14 and a quick ratio of 2.14. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of -43.28 and a beta of 1.30. The business’s 50-day moving average is $81.26. Rapid7, Inc. has a twelve month low of $45.33 and a twelve month high of $94.60.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Thursday, May 6th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.03. The firm had revenue of $117.50 million during the quarter, compared to analysts’ expectations of $114.36 million. Rapid7 had a negative net margin of 24.34% and a negative return on equity of 177.30%. The company’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share. On average, equities analysts predict that Rapid7, Inc. will post -1.59 earnings per share for the current year.

Several brokerages have recently issued reports on RPD. Stifel Nicolaus began coverage on shares of Rapid7 in a research note on Wednesday, February 17th. They issued a “buy” rating on the stock. Zacks Investment Research downgraded shares of Rapid7 from a “hold” rating to a “sell” rating in a research report on Thursday, May 20th. Raymond James lifted their target price on shares of Rapid7 from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, May 7th. Piper Sandler raised shares of Rapid7 from a “neutral” rating to an “overweight” rating and set a $100.00 target price on the stock in a research report on Monday, March 8th. Finally, Morgan Stanley lifted their target price on shares of Rapid7 from $86.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. Rapid7 currently has an average rating of “Buy” and a consensus price target of $98.10.

A number of hedge funds and other institutional investors have recently bought and sold shares of RPD. FMR LLC lifted its stake in Rapid7 by 195.6% in the first quarter. FMR LLC now owns 170,286 shares of the technology company’s stock valued at $8,619,000 after acquiring an additional 112,677 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Rapid7 by 75.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,100 shares of the technology company’s stock valued at $189,000 after acquiring an additional 900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Rapid7 by 1.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,399 shares of the technology company’s stock valued at $1,749,000 after acquiring an additional 218 shares during the last quarter. California Public Employees Retirement System lifted its stake in Rapid7 by 12.4% in the fourth quarter. California Public Employees Retirement System now owns 119,285 shares of the technology company’s stock valued at $10,755,000 after acquiring an additional 13,153 shares during the last quarter. Finally, Ellsworth Advisors LLC acquired a new stake in Rapid7 in the fourth quarter valued at approximately $263,000. Hedge funds and other institutional investors own 97.27% of the company’s stock.

Rapid7 Company Profile

Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightIDR, an incident detection and response solution; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.

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