Shares of Rapid7 Inc (NASDAQ:RPD) fell 5.2% during mid-day trading on Monday . The stock traded as low as $35.41 and last traded at $35.84. 885,715 shares were traded during mid-day trading, an increase of 92% from the average session volume of 460,278 shares. The stock had previously closed at $37.80.

RPD has been the topic of several recent analyst reports. KeyCorp lifted their target price on Rapid7 from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, August 7th. Monness Crespi & Hardt lifted their target price on Rapid7 from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. BidaskClub raised Rapid7 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Royal Bank of Canada reaffirmed a “buy” rating and set a $40.00 target price on shares of Rapid7 in a research note on Tuesday, August 7th. Finally, BTIG Research downgraded Rapid7 from a “buy” rating to a “neutral” rating in a research note on Monday, June 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $33.57.

The stock has a market cap of $1.76 billion, a PE ratio of -34.29 and a beta of 1.12.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Monday, August 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.05. Rapid7 had a negative return on equity of 105.43% and a negative net margin of 24.40%. The company had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $55.14 million. During the same period last year, the firm earned ($0.14) EPS. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. research analysts forecast that Rapid7 Inc will post -1.01 earnings per share for the current fiscal year.

In other news, COO Andrew F. Burton sold 10,000 shares of Rapid7 stock in a transaction on Thursday, July 19th. The stock was sold at an average price of $32.79, for a total transaction of $327,900.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 9,492 shares of Rapid7 stock in a transaction on Friday, August 17th. The shares were sold at an average price of $32.53, for a total value of $308,774.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 258,532 shares of company stock worth $9,571,570. 25.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Rapid7 by 64.5% in the 2nd quarter. BlackRock Inc. now owns 2,557,393 shares of the technology company’s stock worth $72,171,000 after acquiring an additional 1,002,292 shares during the last quarter. Federated Investors Inc. PA grew its holdings in shares of Rapid7 by 8.2% in the 2nd quarter. Federated Investors Inc. PA now owns 1,193,800 shares of the technology company’s stock worth $33,689,000 after acquiring an additional 90,800 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Rapid7 by 27.5% in the 2nd quarter. Renaissance Technologies LLC now owns 999,200 shares of the technology company’s stock worth $28,197,000 after acquiring an additional 215,700 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Rapid7 by 1.6% in the 2nd quarter. Voya Investment Management LLC now owns 896,598 shares of the technology company’s stock worth $25,302,000 after acquiring an additional 14,478 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Rapid7 by 8.3% in the 2nd quarter. Legal & General Group Plc now owns 863,029 shares of the technology company’s stock worth $24,355,000 after acquiring an additional 66,044 shares during the last quarter. Institutional investors and hedge funds own 77.92% of the company’s stock.

About Rapid7 (NASDAQ:RPD)

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

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