Rapid7, Inc. (NASDAQ:RPD) major shareholder Bain Capital Venture Investors sold 898,517 shares of Rapid7 stock in a transaction on Monday, November 13th. The stock was sold at an average price of $18.30, for a total transaction of $16,442,861.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Rapid7, Inc. (RPD) traded up $0.03 during mid-day trading on Friday, hitting $18.28. 164,200 shares of the stock were exchanged, compared to its average volume of 217,545. Rapid7, Inc. has a 1 year low of $11.26 and a 1 year high of $20.25.
Rapid7 (NASDAQ:RPD) last announced its earnings results on Tuesday, November 7th. The technology company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.02. Rapid7 had a negative net margin of 22.44% and a negative return on equity of 115.79%. The firm had revenue of $50.50 million for the quarter, compared to analysts’ expectations of $49.87 million. During the same quarter in the previous year, the business posted ($0.13) EPS. The company’s quarterly revenue was up 25.3% on a year-over-year basis. sell-side analysts forecast that Rapid7, Inc. will post -1.03 earnings per share for the current year.
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Hedge funds have recently made changes to their positions in the company. Citigroup Inc. boosted its holdings in shares of Rapid7 by 1,398.9% during the 2nd quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock valued at $165,000 after buying an additional 9,135 shares in the last quarter. BT Investment Management Ltd bought a new stake in shares of Rapid7 during the 2nd quarter valued at $169,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Rapid7 by 25.8% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 10,352 shares of the technology company’s stock valued at $173,000 after buying an additional 2,124 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Rapid7 during the 3rd quarter valued at $187,000. Finally, American International Group Inc. boosted its holdings in shares of Rapid7 by 7.1% during the 1st quarter. American International Group Inc. now owns 12,257 shares of the technology company’s stock valued at $184,000 after buying an additional 815 shares in the last quarter. Hedge funds and other institutional investors own 71.80% of the company’s stock.
Several analysts recently weighed in on RPD shares. Royal Bank Of Canada lifted their price target on shares of Rapid7 from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, November 8th. ValuEngine cut shares of Rapid7 from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BidaskClub cut shares of Rapid7 from a “hold” rating to a “sell” rating in a report on Friday, July 28th. KeyCorp reiterated a “buy” rating and issued a $25.00 price target on shares of Rapid7 in a report on Friday, October 6th. Finally, Zacks Investment Research cut shares of Rapid7 from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $20.83.
Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.
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