Dragoneer Investment Group LLC Invests $47.52 Million in Rubrik, Inc. (NYSE:RBRK)

Dragoneer Investment Group LLC purchased a new position in shares of Rubrik, Inc. (NYSE:RBRK) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,550,000 shares of the company’s stock, valued at approximately $47,523,000. Rubrik accounts for about 0.9% of Dragoneer Investment Group LLC’s holdings, making the stock its 19th biggest position.

Several other large investors have also modified their holdings of the stock. EPIQ Capital Group LLC bought a new stake in Rubrik during the second quarter valued at $15,111,000. Zweig DiMenna Associates LLC acquired a new position in shares of Rubrik in the 2nd quarter valued at about $6,730,000. Ensign Peak Advisors Inc bought a new stake in shares of Rubrik during the 2nd quarter valued at about $6,287,000. ARK Investment Management LLC acquired a new stake in Rubrik during the second quarter worth about $6,043,000. Finally, Cisco Systems Inc. bought a new position in Rubrik in the second quarter worth about $5,613,000.

Rubrik Trading Down 6.1 %

NYSE RBRK opened at $31.51 on Thursday. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $40.00. The company’s 50 day moving average is $33.38.

Analysts Set New Price Targets

Several research firms have recently commented on RBRK. Barclays upped their target price on Rubrik from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, June 12th. Citigroup raised their target price on Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $50.00 price target on shares of Rubrik in a report on Tuesday, September 10th. CIBC increased their price objective on shares of Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a report on Tuesday, September 10th. Finally, Wedbush cut their price objective on shares of Rubrik from $50.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. Fifteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $44.69.

Insider Buying and Selling at Rubrik

In other news, Director Ravi Mhatre sold 15,933 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Barry Eggers sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the sale, the insider now directly owns 56,736 shares of the company’s stock, valued at $1,857,536.64. The disclosure for this sale can be found here.

About Rubrik

Rubrik, Inc provides data security solutions to individuals and businesses worldwide. The company offers enterprise data protection, unstructured data protection, cloud data protection, and SaaS data protection solutions; data threat analytics; data security posture; and cyber recovery solutions. It serves financial, retail, trade, transportation, energy, industrial, healthcare and life science, education, technology, media, communications, and public sectors.