Insider Buying: Rapid7 (NASDAQ:RPD) CEO Buys 14,500 Shares of Stock

Rapid7, Inc. (NASDAQ:RPD) CEO Corey Thomas bought 14,500 shares of the stock in a transaction on Monday, November 24th. The stock was purchased at an average price of $13.82 per share, with a total value of $200,390.00. Following the completion of the purchase, the chief executive officer owned 595,066 shares of the company’s stock, valued at $8,223,812.12. This represents a 2.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Rapid7 Stock Up 2.1%

NASDAQ RPD traded up $0.29 on Monday, hitting $14.20. The stock had a trading volume of 1,257,670 shares, compared to its average volume of 915,939. Rapid7, Inc. has a 52-week low of $13.21 and a 52-week high of $44.48. The business’s fifty day moving average price is $17.63 and its 200 day moving average price is $20.69. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market cap of $929.83 million, a price-to-earnings ratio of 34.63 and a beta of 0.94.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Tuesday, November 4th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.12. Rapid7 had a return on equity of 149.12% and a net margin of 3.41%.The company had revenue of $217.96 million for the quarter, compared to analyst estimates of $216.14 million. During the same period in the prior year, the company posted $0.66 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. Rapid7 has set its FY 2025 guidance at 2.020-2.090 EPS. Q4 2025 guidance at 0.370-0.44 EPS. Equities research analysts anticipate that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Institutional Investors Weigh In On Rapid7

Large investors have recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Rapid7 during the first quarter valued at approximately $38,000. CI Investments Inc. increased its position in shares of Rapid7 by 48.4% during the third quarter. CI Investments Inc. now owns 2,281 shares of the technology company’s stock worth $43,000 after purchasing an additional 744 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in Rapid7 in the 3rd quarter valued at $44,000. Headlands Technologies LLC acquired a new position in Rapid7 in the 2nd quarter valued at $44,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Rapid7 during the third quarter worth $53,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group dropped their target price on Rapid7 from $34.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, October 21st. Raymond James Financial lowered their target price on Rapid7 from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Morgan Stanley decreased their target price on shares of Rapid7 from $28.00 to $22.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 2nd. Barclays dropped their target price on Rapid7 from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Finally, DA Davidson decreased their target price on Rapid7 from $16.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.42.

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.