Stephens Investment Management Group LLC raised its holdings in Rubrik, Inc. (NYSE:RBRK – Free Report) by 47.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 595,851 shares of the company’s stock after acquiring an additional 191,738 shares during the period. Stephens Investment Management Group LLC’s holdings in Rubrik were worth $45,571,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of Rubrik by 1,360.0% during the third quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $30,000 after purchasing an additional 340 shares during the period. Financial Life Planners acquired a new stake in shares of Rubrik during the third quarter worth $31,000. Atlantic Union Bankshares Corp raised its position in shares of Rubrik by 100.0% during the fourth quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares during the period. Guerra Advisors Inc acquired a new stake in shares of Rubrik during the third quarter worth $33,000. Finally, Banque Cantonale Vaudoise purchased a new stake in Rubrik during the third quarter valued at about $34,000. 49.54% of the stock is owned by institutional investors and hedge funds.
Rubrik Trading Up 1.7%
RBRK stock opened at $63.89 on Friday. The firm has a 50-day moving average of $53.19 and a two-hundred day moving average of $62.83. The firm has a market capitalization of $12.92 billion, a PE ratio of -36.09 and a beta of 0.63. Rubrik, Inc. has a one year low of $42.25 and a one year high of $103.00.
Wall Street Analyst Weigh In
RBRK has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Rubrik from $125.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, March 13th. DA Davidson set a $70.00 price objective on shares of Rubrik in a research note on Friday, March 13th. Citigroup reduced their price objective on shares of Rubrik from $115.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, March 16th. BMO Capital Markets upped their price objective on shares of Rubrik from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, Jefferies Financial Group initiated coverage on shares of Rubrik in a research note on Monday, April 27th. They set a “buy” rating and a $65.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $84.83.
Read Our Latest Stock Analysis on Rubrik
Insider Transactions at Rubrik
In related news, Director Mark D. Mclaughlin purchased 10,638 shares of Rubrik stock in a transaction dated Monday, March 30th. The stock was acquired at an average cost of $47.21 per share, with a total value of $502,219.98. Following the completion of the transaction, the director directly owned 13,639 shares of the company’s stock, valued at $643,897.19. This trade represents a 354.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kiran Kumar Choudary sold 20,000 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $51.69, for a total transaction of $1,033,800.00. Following the completion of the sale, the chief financial officer directly owned 549,901 shares of the company’s stock, valued at $28,424,382.69. This trade represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 203,113 shares of company stock valued at $10,160,197 over the last three months. 13.66% of the stock is owned by corporate insiders.
About Rubrik
Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.
The company’s platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).
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