Rapid7 (NASDAQ:RPD) Reaches New 12-Month Low - Here's What Happened

Rapid7, Inc. (NASDAQ:RPD - Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $32.73 and last traded at $32.75, with a volume of 61900 shares. The stock had previously closed at $33.72.

Analyst Ratings Changes

Several research analysts recently issued reports on RPD shares. Barclays cut their price target on shares of Rapid7 from $43.00 to $35.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price objective on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Jefferies Financial Group lowered their price target on shares of Rapid7 from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Scotiabank cut their price objective on Rapid7 from $42.00 to $38.00 and set a "sector perform" rating for the company in a research report on Thursday, February 13th. Finally, Raymond James lowered their target price on Rapid7 from $55.00 to $45.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Fifteen investment 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, Rapid7 has a consensus rating of "Hold" and a consensus target price of $41.22.

Rapid7 Stock Down 0.7 %

The stock has a market cap of $1.99 billion, a PE ratio of 80.72 and a beta of 0.96. The company's fifty day moving average is $38.49 and its 200 day moving average is $38.77.

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 EPS for the current year.

Insider Buying and Selling at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction dated Tuesday, January 21st. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Rapid7

Institutional investors have recently made changes to their positions in the stock. Creative Planning acquired a new stake in Rapid7 in the third quarter worth approximately $253,000. International Assets Investment Management LLC boosted its stake in Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock valued at $27,000 after buying an additional 661 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Rapid7 during the third quarter worth about $948,000. 1620 Investment Advisors Inc. raised its position in Rapid7 by 14.5% in the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company's stock worth $111,000 after acquiring an additional 352 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in Rapid7 by 491.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 80,464 shares of the technology company's stock valued at $3,210,000 after acquiring an additional 66,854 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

About Rapid7

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.