Atreides Management LP grew its holdings in shares of Rubrik, Inc. (NYSE:RBRK – Free Report) by 18.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 895,029 shares of the company’s stock after purchasing an additional 142,277 shares during the period. Rubrik makes up approximately 0.8% of Atreides Management LP’s investment portfolio, making the stock its 25th largest holding. Atreides Management LP owned 0.45% of Rubrik worth $68,452,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the business. Bamco Inc. NY acquired a new position in shares of Rubrik during the fourth quarter valued at $363,000. Caisse de depot et placement du Quebec acquired a new position in shares of Rubrik during the fourth quarter valued at $1,935,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Rubrik during the fourth quarter valued at $45,304,000. Bienville Capital Management LLC increased its holdings in shares of Rubrik by 173.5% during the fourth quarter. Bienville Capital Management LLC now owns 289,874 shares of the company’s stock valued at $22,170,000 after purchasing an additional 183,874 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of Rubrik by 490.1% during the fourth quarter. Cetera Investment Advisers now owns 63,705 shares of the company’s stock valued at $4,872,000 after purchasing an additional 52,910 shares during the period. 49.54% of the stock is owned by institutional investors and hedge funds.
Rubrik Stock Up 0.1%
Shares of RBRK stock opened at $69.24 on Thursday. The stock has a 50-day simple moving average of $62.24 and a 200 day simple moving average of $62.68. Rubrik, Inc. has a fifty-two week low of $42.25 and a fifty-two week high of $99.75. The stock has a market capitalization of $14.25 billion, a P/E ratio of -47.75 and a beta of 1.10.
Insiders Place Their Bets
In related news, CFO Kiran Kumar Choudary sold 122,613 shares of the stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $48.20, for a total value of $5,909,946.60. Following the completion of the transaction, the chief financial officer owned 564,901 shares in the company, valued at $27,228,228.20. This trade represents a 17.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark D. Mclaughlin purchased 10,638 shares of the firm’s stock in a transaction that occurred on Monday, March 30th. The stock was bought at an average price of $47.21 per share, with a total value of $502,219.98. Following the transaction, the director directly owned 13,639 shares in the company, valued at $643,897.19. This trade represents a 354.48% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 398,939 shares of company stock worth $27,628,167 over the last three months. Company insiders own 13.66% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on RBRK shares. Jefferies Financial Group set a $90.00 price target on Rubrik in a report on Friday, June 5th. Guggenheim reissued a “buy” rating on shares of Rubrik in a report on Friday, June 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $95.00 price target (up from $85.00) on shares of Rubrik in a report on Thursday, June 11th. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Rubrik in a research note on Thursday, June 11th. Finally, Citigroup raised their target price on Rubrik from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Twenty-eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Rubrik presently has an average rating of “Moderate Buy” and an average target price of $93.00.
Get Our Latest Analysis on Rubrik
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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