In a recent transaction, Andrew F. Burton, the Chief Operating Officer of Rapid7, Inc. (NASDAQ:RPD), sold a significant amount of company stock, according to the latest SEC filings. On March 13, 2024, Burton sold a total of 31,727 shares at an average price of $53.07 per share, followed by an additional 100 shares at a price of $53.76 each. The combined sales amounted to over $1.68 million.
The transactions took place in multiple parts, with prices for the bulk sale ranging from $52.64 to $53.60, indicating a weighted average price for the larger sale. The company has provided an undertaking that full information regarding the number of shares sold at each separate price within this range will be made available upon request to the issuer, any security holder, or the SEC staff.
Following these transactions, Burton still holds a substantial number of shares in the company, with 257,494 shares remaining in his possession. Rapid7, based in Boston, Massachusetts, specializes in prepackaged software services and has been a key player in the tech industry.
Investors often keep a close eye on insider transactions as they can provide insights into an executive's confidence in the company's future prospects. The sale by a high-ranking executive like Burton is noteworthy, although it does not necessarily indicate any underlying issues with the company's performance or outlook.
For those interested in following up on the company's performance and insider transactions, Rapid7's stock can be tracked on the NASDAQ exchange under the ticker symbol RPD.
InvestingPro Insights
As Rapid7, Inc. (NASDAQ:RPD) sees insider transactions, investors may be seeking additional data to gauge the company's financial health and future prospects. According to the latest metrics from InvestingPro, Rapid7 has a market capitalization of $3.11 billion and has experienced a revenue growth of 13.52% over the last twelve months as of Q4 2023. Despite this growth, the company has faced challenges, as reflected by an operating income margin of -3.52% during the same period.
InvestingPro Tips reveal that analysts are optimistic about the company's potential to turn profitable this year, with 19 analysts having revised their earnings upwards for the upcoming period. This positive sentiment is echoed by the expectation that net income will grow this year. Moreover, the company's stock has experienced a decline over the last month, with a -14.57% return, which may attract investors looking for a potential rebound. It is important to note, however, that the company does not pay a dividend, which could be a consideration for income-focused investors.
For those looking to delve deeper into Rapid7's financials and performance, there are additional InvestingPro Tips available that could provide further insights into the company's valuation and earnings potential. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription and access more exclusive data and analysis on Rapid7 at https://www.investing.com/pro/RPD.
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