Rapid7 Inc’s recent filing unveils that its CEO Thomas Corey E. unloaded Company’s shares for reported $2.65 million on Mar 13 ’24. In the deal valued at $53.07 per share,50,000 shares were sold. As a result of this transaction, Thomas Corey E. now holds 462,560 shares worth roughly $23.29 million.
Then, Burton Andrew F. sold 31,727 shares, generating $1,683,821 in total proceeds. Upon selling the shares at $53.07, the Chief Operating Officer now owns 257,494 shares.
Before that, Adams Timothy M sold 15,000 shares. Rapid7 Inc shares valued at $878,388 were divested by the Chief Financial Officer at a price of $58.56 per share. As a result of the transaction, Adams Timothy M now holds 170,739 shares, worth roughly $8.6 million.
UBS upgraded its Rapid7 Inc [RPD] rating to a Buy from a a Neutral in a research note published on January 29, 2024; the price target was increased to $70 from $53. A number of analysts have revised their coverage, including Citigroup’s analysts, who increased its forecast for the stock in early January from “a Neutral” to “a Buy”. Susquehanna began covering RPD with “Neutral” recommendation on December 15, 2023. Wolfe Research revised its rating on November 03, 2023. It rated RPD as “an Outperform” which previously was an “a Peer perform”.
Price Performance Review of RPD
On Tuesday, Rapid7 Inc [NASDAQ:RPD] saw its stock jump 3.05% to $50.35. Over the last five days, the stock has gained 3.92%. Rapid7 Inc shares have fallen nearly -11.82% since the year began. Nevertheless, the stocks have risen 4.98% over the past one year. While a 52-week high of $61.88 was reached on 02/12/24, a 52-week low of $39.49 was recorded on 03/26/24. SMA at 50 days reached $54.29, while 200 days put it at $50.77. A total of 0.54 million shares were traded, compared to the trading of 0.47 million shares in the previous session.
Levels Of Support And Resistance For RPD Stock
The 24-hour chart illustrates a support level at 49.30, which if violated will result in even more drops to 48.26. On the upside, there is a resistance level at 50.97. A further resistance level may holdings at 51.60. The Relative Strength Index (RSI) on the 14-day chart is 46.38, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.17, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 37.70%. Stochastics %K at 38.70% indicates the stock is a holding.
How much short interest is there in Rapid7 Inc?
A steep rise in short interest was recorded in Rapid7 Inc stocks on Mar 15, 2024, dropping by -0.11 million shares to a total of 4.21 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 4.32 million shares. There was a decline of -2.61%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 8.68% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.67.
The most recent change occurred on July 06, 2023 when UBS began covering the stock and recommended ‘”a Neutral”‘ rating along with a $50 price target.
