Rapid7 (NASDAQ:RPD) Price Target Cut to $40.00

Rapid7 (NASDAQ:RPD) had its price target trimmed by Susquehanna from $55.00 to $40.00 in a research report sent to investors on Monday, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Other equities analysts also recently issued reports about the company. Needham & Company LLC reissued a hold rating on shares of Rapid7 in a research report on Friday, May 10th. Mizuho dropped their target price on Rapid7 from $62.00 to $47.00 and set a neutral rating on the stock in a research report on Wednesday, May 8th. JPMorgan Chase & Co. decreased their price target on shares of Rapid7 from $61.00 to $60.00 and set a neutral rating on the stock in a research note on Thursday, February 8th. Citigroup decreased their price target on shares of Rapid7 from $65.00 to $52.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. Finally, StockNews.com lowered shares of Rapid7 from a buy rating to a hold rating in a research note on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Rapid7 currently has a consensus rating of Hold and a consensus price target of $51.73.

Rapid7 Trading Up 3.3 %

Shares of RPD opened at $39.38 on Monday. Rapid7 has a 12 month low of $35.22 and a 12 month high of $61.88. The stock has a fifty day moving average price of $47.12 and a 200-day moving average price of $52.37. The firm has a market cap of $2.45 billion, a PE ratio of -19.21 and a beta of 1.01.

Insider Activity

In related news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction that occurred on Monday, April 8th. The shares were 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 in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction that occurred on Monday, April 8th. The shares were 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 in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of the business’s 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 disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Institutional investors have recently modified their holdings of the business. Arizona State Retirement System raised its holdings in Rapid7 by 1.9% during the third quarter. Arizona State Retirement System now owns 17,184 shares of the technology company’s stock worth $787,000 after purchasing an additional 320 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Rapid7 by 13.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock valued at $134,000 after buying an additional 336 shares during the last quarter. Natixis Advisors L.P. raised its stake in Rapid7 by 2.0% during the 4th quarter. Natixis Advisors L.P. now owns 17,446 shares of the technology company’s stock worth $996,000 after acquiring an additional 344 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its position in Rapid7 by 2.4% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 28,167 shares of the technology company’s stock valued at $1,289,000 after acquiring an additional 668 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Rapid7 by 11.6% in the fourth quarter. Principal Financial Group Inc. now owns 6,998 shares of the technology company’s stock valued at $400,000 after acquiring an additional 727 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.