Taking a look at what insiders are doing to gauge the Rapid7 Inc (RPD)’s direction

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Rapid7 Inc shares valued at $912,592 were sold by Burton Andrew F. on Jan 03. At $53.68 per share, Burton Andrew F. sold 17,000 shares. The insider’s holdings dropped to 224,038 shares worth approximately $13.51 million following the completion of this transaction.

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Also, Burton Andrew F. sold 38,577 shares, netting a total of over 2,024,007 in proceeds. Following the sale of shares at $52.47 each, the insider now holds 241,038 shares.

Before that, Brown Marc Evan had sold 11,601 shares from its account. In a trade valued at $551,734, the Director traded Rapid7 Inc shares for $47.56 each. Upon closing the transaction, the insider’s holdings decreased to 11,601 shares, worth approximately $1.96 million.

As published in a research note from UBS on January 29, 2024, Rapid7 Inc [RPD] has been rated up from a Neutral to a Buy and the price target has been revised to $70 from $53.

Analyzing RPD Stock Performance

During the last five days, there has been a surge of approximately 2.71%. Over the course of the year, Rapid7 Inc shares have jumped approximately 5.64%. Shares of the company reached a 52-week high of $61.88 on 02/12/24 and a 52-week low of $51.32 on 01/05/24. A 50-day SMA is recorded $56.60, while a 200-day SMA reached $49.53. Nevertheless, trading volume fell to 0.52 million shares from 0.73 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 59.44, which, if violated, would cause prices to drop to 58.57. In the upper region, resistance lies at 61.49. The next price resistance is at 62.67. RSI (Relative Strength Index) is 60.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.72, which suggests the price will increase in the coming days. Percent R is at 18.51%, indicating bullish 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 Jan 31, 2024 jumping by 90000.0 shares to 4.0 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2023 was 3.91 million shares. A jump of 2.25% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.53 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.53.

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