Rapid7 Inc (NASDAQ:RPD) traded down 5.2% during trading on Monday . The stock traded as low as $35.41 and last traded at $35.84. 885,715 shares were traded during mid-day trading, an increase of 92% from the average session volume of 460,278 shares. The stock had previously closed at $37.80.

Several research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Rapid7 from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 25th. Monness Crespi & Hardt upped their price target on shares of Rapid7 from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. KeyCorp upped their price target on shares of Rapid7 from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, August 7th. Stifel Nicolaus upped their price target on shares of Rapid7 from $36.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $40.00 price target on shares of Rapid7 in a report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $33.57.

The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -34.67 and a beta of 1.10.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Monday, August 6th. The technology company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.05. Rapid7 had a negative net margin of 24.40% and a negative return on equity of 105.43%. The business had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $55.14 million. During the same quarter in the prior year, the company posted ($0.14) earnings per share. The firm’s revenue was up 23.1% on a year-over-year basis. research analysts predict that Rapid7 Inc will post -1.01 earnings per share for the current year.

In related news, COO Andrew F. Burton sold 9,492 shares of the stock in a transaction on Friday, August 17th. The shares were sold at an average price of $32.53, for a total transaction of $308,774.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey Kalowski sold 20,000 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $32.65, for a total transaction of $653,000.00. The disclosure for this sale can be found here. Insiders have sold 258,132 shares of company stock valued at $9,558,342 in the last 90 days. 25.60% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in Rapid7 by 64.5% in the second quarter. BlackRock Inc. now owns 2,557,393 shares of the technology company’s stock valued at $72,171,000 after acquiring an additional 1,002,292 shares during the last quarter. Federated Investors Inc. PA lifted its stake in Rapid7 by 8.2% in the second quarter. Federated Investors Inc. PA now owns 1,193,800 shares of the technology company’s stock valued at $33,689,000 after acquiring an additional 90,800 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Rapid7 by 27.5% in the second quarter. Renaissance Technologies LLC now owns 999,200 shares of the technology company’s stock valued at $28,197,000 after acquiring an additional 215,700 shares during the last quarter. Voya Investment Management LLC lifted its stake in Rapid7 by 1.6% in the second quarter. Voya Investment Management LLC now owns 896,598 shares of the technology company’s stock valued at $25,302,000 after acquiring an additional 14,478 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Rapid7 by 8.3% in the second quarter. Legal & General Group Plc now owns 863,029 shares of the technology company’s stock valued at $24,355,000 after acquiring an additional 66,044 shares during the last quarter. Institutional investors and hedge funds own 77.92% of the company’s stock.

About Rapid7 (NASDAQ:RPD)

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

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