ARK Investment Management LLC Increases Holdings in Rubrik, Inc. (NYSE:RBRK)

ARK Investment Management LLC raised its stake in Rubrik, Inc. (NYSE:RBRK) by 113.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 420,932 shares of the company’s stock after buying an additional 223,850 shares during the quarter. ARK Investment Management LLC owned approximately 0.23% of Rubrik worth $13,533,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dragoneer Investment Group LLC purchased a new position in Rubrik during the second quarter worth about $47,523,000. Clearbridge Investments LLC purchased a new stake in shares of Rubrik during the 2nd quarter valued at approximately $32,888,000. EPIQ Capital Group LLC acquired a new position in Rubrik in the second quarter valued at approximately $15,111,000. SG Americas Securities LLC purchased a new position in Rubrik in the third quarter worth approximately $10,200,000. Finally, Stephens Investment Management Group LLC increased its stake in Rubrik by 3.5% during the third quarter. Stephens Investment Management Group LLC now owns 264,345 shares of the company’s stock worth $8,499,000 after acquiring an additional 8,903 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Rubrik from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Piper Sandler initiated coverage on shares of Rubrik in a research report on Monday, August 19th. They set an “overweight” rating and a $42.00 price target for the company. BMO Capital Markets dropped their target price on shares of Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. Citigroup boosted their price objective on Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Baird R W raised Rubrik to a “strong-buy” rating in a research note on Monday, July 15th. Sixteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Rubrik currently has an average rating of “Buy” and an average target price of $45.00.

Rubrik Trading Up 2.8 %

Shares of NYSE:RBRK opened at $44.50 on Friday. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $44.98. The firm has a 50 day moving average price of $35.82.

Rubrik (NYSE:RBRK) last posted its earnings results on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The company had revenue of $204.95 million during the quarter, compared to analysts’ expectations of $195.58 million. On average, research analysts forecast that Rubrik, Inc. will post -7.94 earnings per share for the current year.

Insider Activity

In related news, CFO Kiran Kumar Choudary sold 4,500 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $41.99, for a total value of $188,955.00. Following the completion of the sale, the chief financial officer now owns 417,760 shares in the company, valued at $17,541,742.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Rubrik news, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kiran Kumar Choudary sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $41.99, for a total value of $188,955.00. Following the completion of the transaction, the chief financial officer now directly owns 417,760 shares in the company, valued at approximately $17,541,742.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 420,912 shares of company stock valued at $14,386,330.

Rubrik Company Profile

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.