Shares of Rapid7 Inc (NASDAQ:RPD) dropped 4.4% during mid-day trading on Wednesday . The stock traded as low as $53.61 and last traded at $55.05, approximately 425,088 shares were traded during mid-day trading. A decline of 34% from the average daily volume of 646,581 shares. The stock had previously closed at $57.57.

RPD has been the topic of several research analyst reports. Royal Bank of Canada boosted their price objective on Rapid7 to $70.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Zacks Investment Research cut Rapid7 from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Needham & Company LLC boosted their target price on Rapid7 from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. DA Davidson boosted their target price on Rapid7 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Finally, Northland Securities set a $75.00 target price on Rapid7 and gave the stock a “buy” rating in a research note on Monday, July 15th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $62.24.

The company has a market capitalization of $2.81 billion, a PE ratio of -54.50 and a beta of 1.18. The company has a debt-to-equity ratio of 2.87, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a 50 day simple moving average of $60.13.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.26. The business had revenue of $78.96 million during the quarter, compared to analysts’ expectations of $75.14 million. Rapid7 had a negative return on equity of 39.52% and a negative net margin of 17.63%. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.13) EPS. As a group, sell-side analysts anticipate that Rapid7 Inc will post -0.62 earnings per share for the current fiscal year.

In other news, insider Christina Luconi sold 3,937 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $52.44, for a total transaction of $206,456.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Peter Kaes sold 17,500 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $52.45, for a total value of $917,875.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,037 shares of company stock valued at $5,351,147. Insiders own 4.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Rapid7 by 10.8% during the 2nd quarter. Vanguard Group Inc. now owns 4,101,944 shares of the technology company’s stock worth $237,256,000 after acquiring an additional 400,958 shares in the last quarter. BlackRock Inc. boosted its position in shares of Rapid7 by 26.2% in the 2nd quarter. BlackRock Inc. now owns 3,421,810 shares of the technology company’s stock valued at $197,918,000 after purchasing an additional 710,437 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Rapid7 by 13.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,782,405 shares of the technology company’s stock valued at $103,095,000 after purchasing an additional 216,413 shares during the period. Federated Investors Inc. PA boosted its position in shares of Rapid7 by 5.1% in the 1st quarter. Federated Investors Inc. PA now owns 1,308,272 shares of the technology company’s stock valued at $66,212,000 after purchasing an additional 64,055 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Rapid7 by 39.8% in the 2nd quarter. Invesco Ltd. now owns 1,089,199 shares of the technology company’s stock valued at $62,999,000 after purchasing an additional 310,330 shares during the period. 88.27% of the stock is owned by institutional investors and hedge funds.

About Rapid7 (NASDAQ:RPD)

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable 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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