Millennium Management LLC acquired a new position in Rubrik, Inc. (NYSE:RBRK – Free Report) 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.
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.
Read Our Latest Analysis on RBRK
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.
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