Shake-Up Alert: 40 Companies Facing Activist Pressure

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27. Jana Partners at Rapid7, Inc. (NASDAQ:RPD)

Stock Return: – 7.8%

S&P 500 Return: – 1.3%

Investment date: 26/06/2024

Number of hedge funds holding stakes: 32

Rapid7, Inc. (NASDAQ:RPD) is a software and infrastructure solutions company that offers cybersecurity solutions for endpoint-to-cloud data collection and sharing applications. After losing more than 25% in market value, activist investor Jana Partners has been pushing Rapid7, Inc. (NASDAQ:RPD) to consider a complete sale of the business.

In addition, the activist investor is pushing the company to improve its operations and forecasting. While providing software tools and services that help businesses manage and monitor risks, Rapid7, Inc. (NASDAQ:RPD) has been forced to compete harder for its business as clients cut spending.

32 out of 920 hedge funds tracked by the Insider Monkey database owned stakes in Rapid7, Inc. (NASDAQ:RPD) as of the end of Q1 2024.

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