Rapid7 (NASDAQ:RPD) Shares Gap Up to $38.08

Rapid7, Inc. (NASDAQ:RPD) gapped up prior to trading on Wednesday . The stock had previously closed at $38.08, but opened at $39.05. Rapid7 shares last traded at $38.56, with a volume of 19,842 shares changing hands.

Wall Street Analysts Forecast Growth

RPD has been the topic of several research reports. Susquehanna reduced their price target on shares of Rapid7 from $55.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. JPMorgan Chase & Co. reduced their price target on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. Piper Sandler reduced their price target on shares of Rapid7 from $56.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Stifel Nicolaus reduced their price target on shares of Rapid7 from $63.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, Robert W. Baird reduced their target price on shares of Rapid7 from $62.00 to $56.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Rapid7 has an average rating of “Hold” and a consensus target price of $51.73.

Rapid7 Trading Up 2.3 %

The company has a fifty day moving average of $45.88 and a two-hundred day moving average of $52.17.

Insider Buying and Selling at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the sale, the chief operating officer now owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the completion of the transaction, the chief operating officer now owns 257,494 shares of the company’s stock, valued at approximately $13,665,206.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction on Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hawk Ridge Capital Management LP increased its position in Rapid7 by 757.7% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock worth $72,894,000 after purchasing an additional 1,406,619 shares in the last quarter. First Trust Advisors LP increased its position in Rapid7 by 49.2% during the 4th quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after purchasing an additional 1,124,429 shares in the last quarter. Norges Bank purchased a new stake in Rapid7 during the 4th quarter worth about $37,790,000. Mirae Asset Global Investments Co. Ltd. increased its position in Rapid7 by 46.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock worth $61,512,000 after purchasing an additional 397,968 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Rapid7 by 40.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,237,023 shares of the technology company’s stock worth $56,631,000 after purchasing an additional 355,192 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.