Rapid7 (NASDAQ:RPD) Sees Unusually-High Trading Volume

Rapid7, Inc. (NASDAQ:RPD - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 571,786 shares traded hands during mid-day trading, a decline of 29% from the previous session's volume of 807,195 shares.The stock last traded at $39.76 and had previously closed at $38.00.

Analyst Ratings Changes

Several analysts have recently commented on the company. Scotiabank assumed coverage on Rapid7 in a report on Friday, April 26th. They set a "sector perform" rating and a $46.00 target price on the stock. Stifel Nicolaus lowered their price objective on shares of Rapid7 from $63.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday. UBS Group reduced their target price on shares of Rapid7 from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday. Truist Financial lowered their price target on shares of Rapid7 from $50.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday. Finally, Robert W. Baird reduced their price objective on Rapid7 from $62.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $52.13.

Rapid7 Stock Performance

The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -15.14 and a beta of 1.01. The business has a 50-day simple moving average of $49.04 and a two-hundred day simple moving average of $52.71.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.13 by $0.27. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. The firm had revenue of $205.27 million during the quarter, compared to analysts' expectations of $201.52 million. On average, analysts expect that Rapid7, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the completion of the sale, the chief operating officer now owns 257,494 shares of the company's stock, valued at approximately $13,665,206.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction on Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the sale, the chief operating officer now owns 236,841 shares of the company's stock, valued at $11,541,261.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andrew F. Burton sold 31,727 shares of the company's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the completion of the transaction, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Rapid7

Several hedge funds have recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in Rapid7 during the first quarter worth about $36,000. Mather Group LLC. bought a new position in Rapid7 in the 1st quarter valued at approximately $42,000. International Assets Investment Management LLC boosted its position in Rapid7 by 3,367.9% in the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company's stock valued at $55,000 after buying an additional 943 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Rapid7 during the first quarter worth $83,000. Finally, Financial Connections Group Inc. acquired a new position in Rapid7 in the 4th quarter worth about $95,000. 95.66% of the stock is owned by institutional investors.

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.