12:10 PM EDT, 06/26/2024 (MT Newswires) -- (Updates with Rapid7 ( RPD ) declines to comment in penultimate paragraph.)

Rapid7 ( RPD ) activist investor Jana Partners intends to push the company to sell itself, The Wall Street Journal reported Wednesday, citing people familiar with the matter.

Jana has built a stake in the cybersecurity company, according to the report. The activist investor's managing partner, Scott Ostfeld, disclosed the investment Wednesday at a conference. Although the size of the stake couldn't be learned, Ostfeld called it "significant," the WSJ reported.

Jana is also pushing Rapid7 ( RPD ) to improve its operations and forecasting, along with other changes to increase its stock price, according to the report. The investor is working with investment firm Cannae Holdings, the unnamed sources told the publication.

Rapid7 ( RPD ) declined to comment to MT Newswires.

The company's shares rose 8.2% in recent trading Wednesday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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