Shares of Rapid7 Inc (NASDAQ:RPD) have received an average rating of “Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $25.05.
RPD has been the subject of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $23.00 price objective on shares of Rapid7 in a report on Thursday, December 14th. Northland Securities set a $28.00 price objective on Rapid7 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Zacks Investment Research upgraded Rapid7 from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Saturday, January 13th. Royal Bank of Canada reiterated a “buy” rating and set a $30.00 price objective on shares of Rapid7 in a report on Friday, January 26th. Finally, BidaskClub upgraded Rapid7 from a “hold” rating to a “buy” rating in a report on Saturday, February 10th.
Shares of Rapid7 (RPD) traded up $0.08 during trading hours on Tuesday, hitting $24.17. The company had a trading volume of 368,600 shares, compared to its average volume of 474,115. Rapid7 has a twelve month low of $13.42 and a twelve month high of $25.95. The stock has a market capitalization of $1,097.39, a price-to-earnings ratio of -22.80 and a beta of 1.12.
In other Rapid7 news, Chairman Alan Matthews sold 20,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $23.93, for a total transaction of $478,600.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Corey E. Thomas sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $21.01, for a total value of $5,252,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,330,000 shares of company stock worth $48,960,500. Corporate insiders own 56.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of RPD. Alyeska Investment Group L.P. bought a new position in shares of Rapid7 in the third quarter worth about $7,896,000. Bank of New York Mellon Corp increased its stake 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 purchasing an additional 361,392 shares during the period. Cortina Asset Management LLC bought a new position in shares of Rapid7 in the third quarter worth about $6,015,000. Millennium Management LLC increased its stake in shares of Rapid7 by 129.5% in the fourth quarter. Millennium Management LLC now owns 511,129 shares of the technology company’s stock worth $9,538,000 after purchasing an additional 288,392 shares during the period. Finally, Frontier Capital Management Co. LLC increased its stake 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 purchasing an additional 276,627 shares during the period. Institutional investors and hedge funds own 71.61% of the company’s stock.
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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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