Millennium Management LLC Purchases New Position in Rubrik, Inc. (NYSE:RBRK)

Millennium Management LLC acquired a new position in Rubrik, Inc. (NYSE:RBRK) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 204,579 shares of the company’s stock, valued at approximately $6,272,000.

Several other institutional investors and hedge funds have also bought and sold shares of RBRK. Register Financial Advisors LLC bought a new position in shares of Rubrik in the 2nd quarter worth approximately $227,000. Zweig DiMenna Associates LLC purchased a new position in Rubrik during the second quarter valued at $6,730,000. EFG Asset Management North America Corp. bought a new stake in shares of Rubrik during the 2nd quarter valued at $925,000. ARK Investment Management LLC bought a new stake in shares of Rubrik during the 2nd quarter valued at $6,043,000. Finally, Cisco Systems Inc. purchased a new stake in shares of Rubrik in the 2nd quarter worth about $5,613,000.

Rubrik Price Performance

Shares of RBRK stock opened at $38.71 on Friday. The business has a 50 day moving average of $32.99. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $40.00.

Rubrik (NYSE:RBRK) last issued its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The company had revenue of $204.95 million for the quarter, compared to the consensus estimate of $195.58 million. Equities research analysts anticipate that Rubrik, Inc. will post -7.95 EPS for the current fiscal year.

Insider Transactions at Rubrik

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $31.25, for a total value of $781,250.00. Following the transaction, the executive now owns 437,545 shares of the company’s stock, valued at approximately $13,673,281.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $31.25, for a total value of $781,250.00. Following the completion of the sale, the executive now directly owns 437,545 shares in the company, valued at $13,673,281.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction on Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The disclosure for this sale can be found here. Insiders have sold a total of 297,529 shares of company stock worth $9,445,527 in the last ninety days.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RBRK. Truist Financial reissued a “buy” rating and set a $43.00 price target on shares of Rubrik in a research report on Tuesday, September 10th. Piper Sandler began coverage on Rubrik in a research report on Monday, August 19th. They issued an “overweight” rating and a $42.00 price target on the stock. Robert W. Baird started coverage on Rubrik in a research report on Monday, July 15th. They set an “outperform” rating and a $42.00 price objective for the company. Wedbush lowered their price objective on Rubrik from $50.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $50.00 target price on shares of Rubrik in a research note on Tuesday, September 10th. Sixteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $44.41.

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.