Rapid7 (NASDAQ:RPD) Shares Down 5.7%

Rapid7 Inc (NASDAQ:RPD)’s share price traded down 5.7% on Tuesday . The company traded as low as $47.90 and last traded at $48.26, 690,424 shares traded hands during trading. An increase of 24% from the average session volume of 555,475 shares. The stock had previously closed at $51.18.

A number of research firms recently commented on RPD. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 target price on shares of Rapid7 in a research report on Tuesday, November 5th. Piper Jaffray Companies initiated coverage on Rapid7 in a research note on Monday, December 9th. They set an “overweight” rating and a $67.00 price target for the company. Raymond James cut their price target on Rapid7 from $75.00 to $72.00 and set a “strong-buy” rating for the company in a report on Tuesday, February 11th. Robert W. Baird reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Rapid7 in a research note on Tuesday, February 11th. Finally, Mizuho reaffirmed a “buy” rating and set a $68.00 price objective on shares of Rapid7 in a report on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $65.61.

The company has a debt-to-equity ratio of 2.97, a current ratio of 1.38 and a quick ratio of 1.38. The business has a 50-day simple moving average of $59.55 and a 200-day simple moving average of $54.37. The firm has a market capitalization of $2.62 billion, a PE ratio of -43.87 and a beta of 1.21.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Monday, February 10th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. Rapid7 had a negative return on equity of 41.54% and a negative net margin of 16.47%. The business had revenue of $91.65 million during the quarter, compared to analyst estimates of $88.21 million. During the same period last year, the company earned ($0.05) EPS. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. On average, research analysts expect that Rapid7 Inc will post -0.87 earnings per share for the current year.

In related news, COO Andrew F. Burton sold 23,922 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $56.12, for a total transaction of $1,342,502.64. Following the completion of the sale, the chief operating officer now directly owns 231,659 shares of the company’s stock, valued at approximately $13,000,703.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christina Luconi sold 8,868 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $55.35, for a total value of $490,843.80. Following the sale, the insider now directly owns 113,813 shares of the company’s stock, valued at $6,299,549.55. The disclosure for this sale can be found here. Insiders have sold 98,290 shares of company stock worth $5,437,926 in the last quarter. Company insiders own 4.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hancock Whitney Corp lifted its position in shares of Rapid7 by 1.9% during the fourth quarter. Hancock Whitney Corp now owns 14,715 shares of the technology company’s stock worth $825,000 after purchasing an additional 276 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Rapid7 by 0.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 76,643 shares of the technology company’s stock worth $4,294,000 after buying an additional 279 shares during the period. Virtu Financial LLC increased its stake in Rapid7 by 7.6% in the 4th quarter. Virtu Financial LLC now owns 4,961 shares of the technology company’s stock worth $278,000 after buying an additional 350 shares during the period. Amalgamated Bank increased its stake in Rapid7 by 4.7% in the 4th quarter. Amalgamated Bank now owns 8,889 shares of the technology company’s stock worth $498,000 after buying an additional 396 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Rapid7 by 0.8% during the 3rd quarter. Rhumbline Advisers now owns 62,927 shares of the technology company’s stock valued at $2,856,000 after buying an additional 496 shares in the last quarter. Institutional investors own 91.75% of the company’s stock.

About Rapid7 (NASDAQ:RPD)

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable 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.

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