Stock Traders Buy High Volume of Put Options on Rapid7 (RPD)

Rapid7 Inc (NASDAQ:RPD) was the target of some unusual options trading on Monday. Traders bought 1,076 put options on the stock. This is an increase of 1,755% compared to the average daily volume of 58 put options.

Several equities analysts recently issued reports on RPD shares. Royal Bank of Canada lifted their price objective on Rapid7 from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $23.00 price objective on shares of Rapid7 in a report on Thursday, December 14th. Zacks Investment Research cut Rapid7 from a “buy” rating to a “hold” rating in a report on Friday, January 19th. ValuEngine raised 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 set a $30.00 price objective (up from $23.00) on shares of Rapid7 in a report on Monday. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $24.29.

In related news, insider Lee David Weiner sold 20,000 shares of Rapid7 stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $18.41, for a total transaction of $368,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay C. Hoag sold 35,246 shares of Rapid7 stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $19.40, for a total value of $683,772.40. The disclosure for this sale can be found here. Insiders sold a total of 2,345,246 shares of company stock valued at $49,165,672 over the last three months. Insiders own 56.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RPD. Wasatch Advisors Inc. raised its holdings in shares of Rapid7 by 51.1% in the second quarter. Wasatch Advisors Inc. now owns 1,975,177 shares of the technology company’s stock worth $33,242,000 after acquiring an additional 668,273 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Rapid7 in the third quarter worth $7,896,000. Bank of New York Mellon Corp raised its holdings in shares of Rapid7 by 417.9% in the fourth quarter. Bank of New York Mellon Corp now owns 447,864 shares of the technology company’s stock worth $8,357,000 after acquiring an additional 361,392 shares during the last quarter. Cortina Asset Management LLC acquired a new position in shares of Rapid7 in the third quarter worth $6,015,000. Finally, Frontier Capital Management Co. LLC raised its holdings in shares of Rapid7 by 62.3% in the third quarter. Frontier Capital Management Co. LLC now owns 720,672 shares of the technology company’s stock worth $12,684,000 after acquiring an additional 276,627 shares during the last quarter. 68.49% of the stock is owned by institutional investors.

Rapid7 (NASDAQ:RPD) traded up $0.95 during midday trading on Wednesday, hitting $24.31. The stock had a trading volume of 538,547 shares, compared to its average volume of 516,692. Rapid7 has a 12 month low of $13.42 and a 12 month high of $25.95. The firm has a market capitalization of $1,054.57, a PE ratio of -22.93 and a beta of 1.12.

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

TRADEMARK VIOLATION NOTICE: This piece was originally published by Markets Daily and is the sole property of of Markets Daily. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.themarketsdaily.com/2018/02/15/stock-traders-buy-high-volume-of-put-options-on-rapid7-rpd.html.

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.

Receive News & Ratings for Rapid7 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rapid7 and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply