Rapid7 (NASDAQ:RPD) Sets New 12-Month Low – Here’s What Happened

Shares of Rapid7, Inc. (NASDAQ:RPD) reached a new 52-week low during trading on Tuesday . The stock traded as low as $27.95 and last traded at $28.35, with a volume of 1103847 shares trading hands. The stock had previously closed at $29.09.

Wall Street Analyst Weigh In

Several research firms have recently commented on RPD. UBS Group dropped their price objective on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Scotiabank dropped their price objective on shares of Rapid7 from $42.00 to $38.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. lowered their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. DA Davidson increased their price target on shares of Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group reduced their price objective on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.22.

Rapid7 Price Performance

The company has a market cap of $1.81 billion, a PE ratio of 73.54 and a beta of 0.96. The company’s 50 day simple moving average is $37.10 and its two-hundred day simple moving average is $38.43.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. Sell-side analysts expect that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Insider Activity

In other news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the transaction, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RPD. Shapiro Capital Management LLC boosted its stake in shares of Rapid7 by 295.9% in the fourth quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock valued at $51,935,000 after purchasing an additional 964,899 shares during the period. Estuary Capital Management LP acquired a new stake in Rapid7 in the fourth quarter valued at approximately $20,714,000. Dendur Capital LP acquired a new stake in Rapid7 in the fourth quarter valued at approximately $19,190,000. Raymond James Financial Inc. acquired a new stake in Rapid7 in the fourth quarter valued at approximately $12,050,000. Finally, Marshall Wace LLP raised its holdings in Rapid7 by 144.2% in the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock valued at $19,137,000 after acquiring an additional 280,913 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Rapid7 Company Profile

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.