Billionaires reduced their stake in Rapid7 by roughly $112.22 million, from about $195.91 million in the fourth quarter of 2025 to $83.70 million in the first quarter of 2026. The decline coincides with a CEO transition, as Corey Thomas moved to Executive Chairman and Wael Mohamed, a board member nominated by activist investor Jana Partners, took over as CEO. DA Davidson analyst Rudy Kessinger raised his price target to $6.50 from $5.25 but maintained an Underperform rating, citing likely negative annual run rate growth in the company's vulnerability management business. Barclays also lowered its target to $6.50 from $8 with an Underweight rating after first-quarter results, noting that second-quarter net new annual recurring revenue guidance fell short of expectations.
Rapid7 IncBillionaires slashed stake by $112M, CEO transition, analyst downgrades with lowered price targets, and weak net new ARR guidance.