Rapid7 (NASDAQ:RPD) Reaches New 52-Week Low - Time to Sell?

Rapid7, Inc. (NASDAQ:RPD - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $21.77 and last traded at $21.79, with a volume of 92517 shares traded. The stock had previously closed at $22.56.

Wall Street Analyst Weigh In

• Rapid7: Could Be Profitable in FY 2022 Despite Bear Market

A number of research analysts have recently weighed in on RPD shares. StockNews.com upgraded Rapid7 from a "hold" rating to a "buy" rating in a report on Friday, February 21st. Mizuho set a $30.00 target price on shares of Rapid7 in a research report on Wednesday, April 16th. Jefferies Financial Group dropped their price target on shares of Rapid7 from $45.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Stephens assumed coverage on Rapid7 in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $33.00 price objective for the company. Finally, Truist Financial reduced their target price on shares of Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. Fifteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $37.32.

Read Our Latest Analysis on Rapid7

Rapid7 Price Performance

• 3 Best Cybersecurity Stocks: Cyber Threats Are on the Rise

The firm's 50-day moving average is $28.12 and its 200-day moving average is $35.94. The company has a market capitalization of $1.40 billion, a P/E ratio of 56.21 and a beta of 0.99.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. As a group, analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Christina Luconi sold 12,551 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $23.12, for a total transaction of $290,179.12. Following the sale, the insider now directly owns 58,165 shares of the company's stock, valued at $1,344,774.80. This represents a 17.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the sale, the chief executive officer now owns 431,469 shares in the company, valued at approximately $16,991,249.22. This trade represents a 18.82 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rapid7

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Rapid7 by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company's stock worth $346,721,000 after purchasing an additional 60,095 shares during the last quarter. JANA Partners Management LP raised its holdings in Rapid7 by 0.9% during the fourth quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company's stock worth $148,454,000 after purchasing an additional 34,589 shares during the last quarter. Geode Capital Management LLC grew its stake in Rapid7 by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company's stock valued at $58,330,000 after acquiring an additional 15,287 shares during the last quarter. Shapiro Capital Management LLC grew its position in shares of Rapid7 by 295.9% in the fourth quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company's stock valued at $51,935,000 after purchasing an additional 964,899 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Rapid7 by 6.8% in the 4th quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company's stock valued at $50,518,000 after buying an additional 79,836 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.

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