Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Rapid7 Inc. shares valued at $327,516 were purchased by Adams Timothy M on May 09. At $65.50 per share, Adams Timothy M acquired 5,000 shares. The insider’s holdings grew to 106,540 shares worth approximately $7.19 million following the completion of this transaction.
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Also, Schodorf Thomas E sold 260 shares, netting a total of over 29,260 in proceeds. Following the sale of shares at $112.54 each, the insider now holds 5,290 shares.
Before that, Burton Andrew F. had sold 5,498 shares from its account. In a trade valued at $604,780, the Chief Operating Officer traded Rapid7 Inc. shares for $110.00 each. Upon closing the transaction, the insider’s holdings decreased to 5,498 shares, worth approximately $17.49 million.
As published in a research note from Goldman on April 12, 2022, Rapid7 Inc. [RPD] has been rated down from a Buy to a Neutral and the price target has been revised to $130. This represents a 48.12% premium over Thursday’s closing price. Analysts at Wolfe Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid April. As of January 25, 2022, Citigroup has initiated its “Neutral” rating for RPD. Earlier on September 23, 2021, FBN Securities initiated its rating. Their recommendation was “an Outperform” for RPD stock.
Analyzing RPD’s Price Performance
On Thursday, Rapid7 Inc. [NASDAQ: RPD] plunged -6.05% to $67.44. The stock’s lowest price that day was $66.74, but it reached a high of $72.79 in the same session. During the last five days, there has been a surge of approximately 2.18%. Over the course of the year, Rapid7 Inc. shares have dropped approximately -42.70%. Shares of the company reached a 52-week high of $118.42 on 01/04/22 and a 52-week low of $60.42 on 06/16/22. A 50-day SMA is recorded $68.91, while a 200-day SMA reached $97.54. Nevertheless, trading volume fell to 1.0 million shares from 0.52 million shares the previous day.
Support And Resistance Levels for Rapid7 Inc. (RPD)
According to the 24-hour chart, there is a support level at 65.19, which, if violated, would cause prices to drop to 62.94. In the upper region, resistance lies at 71.24. The next price resistance is at 75.04. RSI (Relative Strength Index) is 47.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.27, which suggests the price will decrease in the coming days. Percent R is at 57.57%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Rapid7 Inc. subject to short interest?
Stocks of Rapid7 Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.39 million shares to 4.48 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.09 million shares. A jump of 8.71% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.72 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.72.
Which companies own the most shares of Rapid7 Inc. (RPD)?
According to The Vanguard Group, Inc. filings, the company currently owns 5,132,691 shares, which is about 8.81% of the total RPD shares outstanding. The investor’s shares have appreciated by 101,860 from its previous 13-F filing of 5030831.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $254,991,832. Wellington Management Co. LLP reduced a -3.83% interest valued at $244.49 million while Fidelity Management & Research Co purchased a 1,035,334 stake. A total of 243,040 shares of Rapid7 Inc. were bought by Wasatch Advisors, Inc. during the quarter, and 113,831 were bought by Allspring Global Investments LLC. In its current portfolio, Pictet Asset Management SA holds 1,653,351 shares valued at $110.44 million.
In terms of Rapid7 Inc. share price expectations, FactSet research, analysts set an average price target of $91.21 in the next 12 months, up nearly 19.11% from the previous closing price of $71.78. Analysts anticipate Rapid7 Inc. stock to reach $130.00 by 2022, with the lowest price target being $80.00. In spite of this, 15 analysts ranked Rapid7 Inc. stock as an Overweight at the end of 2022. On August 02, 2021, KeyBanc Capital Markets assigned a price target of “an Overweight” to the stock and initiated coverage with a $135.