Cybersecurity
Rapid7 climbs after Point72 reveals investment in cybersecurity firm
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- Rapid7 (NASDAQ:RPD) climbed about 4% pre-market Tuesday after Steve Cohen’s hedge fund, Point72 Asset Management, filed a 13G form with the U.S. Securities and Exchange Commission, showing it owned more than 5% of the company’s total stock.
- Point72 owns 3.12M shares of the Boston-based cybersecurity firm, according to the filing.
- In addition to being CEO of Point72, Cohen has owned the New York Mets since 2020.
- Rapid7 stock price has retreated 33% year to date.
- Point72 had reduced its stock in Rapid7 to 1.87M shares, or 3.1% of total outstanding shares, by the end of 2023.
