Rapid7, Inc. (NASDAQ:RPD) major shareholder Bain Capital Venture Investors sold 898,517 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $18.30, for a total value of $16,442,861.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of Rapid7, Inc. (NASDAQ:RPD) traded down $0.99 during trading hours on Wednesday, hitting $18.37. The stock had a trading volume of 1,028,700 shares, compared to its average volume of 218,155. Rapid7, Inc. has a 1 year low of $11.26 and a 1 year high of $20.25.
Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Tuesday, November 7th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.02. Rapid7 had a negative return on equity of 115.79% and a negative net margin of 22.44%. The firm had revenue of $50.50 million during the quarter, compared to analysts’ expectations of $49.87 million. During the same period last year, the business posted ($0.13) earnings per share. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. research analysts anticipate that Rapid7, Inc. will post -1.03 EPS for the current year.
A number of research firms have commented on RPD. BidaskClub upgraded Rapid7 from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Needham & Company LLC began coverage on Rapid7 in a research note on Monday, October 23rd. They issued a “buy” rating and a $23.00 price target for the company. Susquehanna Bancshares Inc upgraded Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 price objective for the company in a research note on Tuesday, August 8th. UBS AG upgraded Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 price objective for the company in a research note on Tuesday, August 8th. Finally, Zacks Investment Research cut Rapid7 from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $20.83.
Institutional investors have recently bought and sold shares of the stock. Citigroup Inc. grew its holdings in Rapid7 by 1,398.9% during the second quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock worth $165,000 after acquiring an additional 9,135 shares during the period. BT Investment Management Ltd acquired a new stake in Rapid7 during the second quarter worth about $169,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Rapid7 by 25.8% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 10,352 shares of the technology company’s stock worth $173,000 after acquiring an additional 2,124 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Rapid7 during the third quarter worth about $187,000. Finally, American International Group Inc. grew its holdings in Rapid7 by 7.1% during the first quarter. American International Group Inc. now owns 12,257 shares of the technology company’s stock worth $184,000 after acquiring an additional 815 shares during the period. 71.80% of the stock is currently owned by hedge funds and other institutional investors.
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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