Rapid7 (NASDAQ:RPD) Hits New 52-Week Low - Here's What Happened

Rapid7, Inc. (NASDAQ:RPD - Get Free Report) shares reached a new 52-week low on Monday . The company traded as low as $22.08 and last traded at $23.31, with a volume of 484585 shares changing hands. The stock had previously closed at $23.68.

Analysts Set New Price Targets

RPD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Jefferies Financial Group reduced their target price on shares of Rapid7 from $45.00 to $35.00 and set a "buy" rating for the company in a report on Monday, March 31st. Morgan Stanley initiated coverage on shares of Rapid7 in a report on Tuesday, March 18th. They issued an "equal weight" rating and a $33.00 price target on the stock. UBS Group reduced their price objective on Rapid7 from $52.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, StockNews.com upgraded Rapid7 from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. Fifteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $39.05.

Rapid7 Trading Up 3.5 %

The company has a market cap of $1.51 billion, a P/E ratio of 60.44 and a beta of 0.99. The company has a 50 day moving average price of $29.66 and a 200-day moving average price of $36.49.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS 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%. Equities analysts expect that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Christina Luconi sold 12,551 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the transaction, the insider now owns 58,165 shares in the company, valued at $1,344,774.80. This trade represents a 17.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Corey E. Thomas sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the sale, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Institutional Trading of Rapid7

Several institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its holdings in Rapid7 by 5,311.1% during the 1st quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company's stock worth $39,000 after acquiring an additional 1,434 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock valued at $46,000 after purchasing an additional 455 shares in the last quarter. Pacer Advisors Inc. grew its stake in Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock worth $60,000 after purchasing an additional 347 shares during the period. Ostrum Asset Management increased its holdings in Rapid7 by 45.3% in the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after purchasing an additional 772 shares in the last quarter. Finally, KBC Group NV lifted its stake in Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company's stock valued at $108,000 after buying an additional 867 shares during the period. 95.66% of the stock is currently owned by institutional investors.

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.