Rapid7 Target of Unusually High Options Trading (RPD)

Rapid7 Inc (NASDAQ:RPD) was the target of unusually large options trading activity on Monday. Investors purchased 1,297 call options on the company. This is an increase of approximately 1,237% compared to the typical daily volume of 97 call options.

Shares of Rapid7 (NASDAQ:RPD) traded up $0.95 during trading on Wednesday, reaching $24.31. 538,547 shares of the company’s stock traded hands, compared to its average volume of 516,692. The stock has a market capitalization of $1,054.57, a PE ratio of -22.93 and a beta of 1.12. Rapid7 has a twelve month low of $13.42 and a twelve month high of $25.95.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Monday, February 12th. The technology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.11). The firm had revenue of $57.73 million during the quarter, compared to analysts’ expectations of $57.39 million. Rapid7 had a negative return on equity of 130.89% and a negative net margin of 22.63%. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period last year, the firm posted ($0.13) earnings per share. analysts predict that Rapid7 will post -1.01 earnings per share for the current year.

In other news, Chairman Alan Matthews sold 20,000 shares of Rapid7 stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Corey E. Thomas sold 250,000 shares of Rapid7 stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $21.01, for a total transaction of $5,252,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,345,246 shares of company stock worth $49,165,672. Insiders own 56.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP raised its holdings in shares of Rapid7 by 90.3% during the fourth quarter. Two Sigma Investments LP now owns 190,545 shares of the technology company’s stock valued at $3,556,000 after purchasing an additional 90,408 shares during the last quarter. Two Sigma Advisers LP grew its position in Rapid7 by 65.8% during the fourth quarter. Two Sigma Advisers LP now owns 181,000 shares of the technology company’s stock valued at $3,377,000 after buying an additional 71,800 shares during the period. Deutsche Bank AG grew its position in Rapid7 by 389.5% during the fourth quarter. Deutsche Bank AG now owns 144,847 shares of the technology company’s stock valued at $2,702,000 after buying an additional 115,256 shares during the period. Osterweis Capital Management Inc. bought a new stake in Rapid7 during the fourth quarter valued at approximately $3,459,000. Finally, Renaissance Technologies LLC grew its position in Rapid7 by 177.9% during the fourth quarter. Renaissance Technologies LLC now owns 419,871 shares of the technology company’s stock valued at $7,835,000 after buying an additional 268,771 shares during the period. 68.49% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on the stock. 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 research report on Wednesday, November 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $23.00 target price on shares of Rapid7 in a report on Thursday, December 14th. Zacks Investment Research cut shares of Rapid7 from a “buy” rating to a “hold” rating in a report on Friday, January 19th. ValuEngine raised shares of Rapid7 from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price (up from $23.00) on shares of Rapid7 in a report on Monday. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $24.29.

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About Rapid7

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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