Stephens Investment Management Group LLC Boosts Position in Rubrik, Inc. (NYSE:RBRK)

Stephens Investment Management Group LLC raised its stake in Rubrik, Inc. (NYSE:RBRK) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 268,033 shares of the company’s stock after buying an additional 3,688 shares during the period. Stephens Investment Management Group LLC’s holdings in Rubrik were worth $17,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Renaissance Capital LLC grew its position in shares of Rubrik by 190.1% during the 3rd quarter. Renaissance Capital LLC now owns 60,061 shares of the company’s stock worth $1,931,000 after buying an additional 39,354 shares in the last quarter. Legacy Capital Group California Inc. purchased a new stake in Rubrik in the third quarter worth about $2,419,000. Mount Yale Investment Advisors LLC purchased a new stake in Rubrik in the third quarter worth about $208,000. Diversify Wealth Management LLC bought a new position in Rubrik during the 3rd quarter worth about $1,808,000. Finally, ARK Investment Management LLC increased its position in Rubrik by 113.6% during the 3rd quarter. ARK Investment Management LLC now owns 420,932 shares of the company’s stock valued at $13,533,000 after purchasing an additional 223,850 shares during the period. 49.54% of the stock is currently owned by institutional investors.

Insider Transactions at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $44.48, for a total transaction of $444,800.00. Following the completion of the transaction, the chief financial officer now directly owns 385,360 shares of the company’s stock, valued at approximately $17,140,812.80. This trade represents a 2.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Arvind Nithrakashyap sold 227,596 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $64.89, for a total transaction of $14,768,704.44. Following the completion of the sale, the chief technology officer now directly owns 219,279 shares in the company, valued at $14,229,014.31. This trade represents a 50.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 656,434 shares of company stock worth $42,599,751.

Rubrik Price Performance

NYSE:RBRK opened at $74.52 on Monday. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $79.05. The company’s 50 day moving average is $67.78 and its two-hundred day moving average is $47.95.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RBRK. Rosenblatt Securities started coverage on shares of Rubrik in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target for the company. Cantor Fitzgerald upped their target price on Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Truist Financial increased their target price on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Mizuho boosted their price target on Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Finally, Robert W. Baird raised their price objective on Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Rubrik has an average rating of “Moderate Buy” and a consensus price target of $64.67.

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.