ARK Investment Management LLC Has $13.53 Million Position in Rubrik, Inc. (NYSE:RBRK)

ARK Investment Management LLC raised its position in Rubrik, Inc. (NYSE:RBRK - Free Report) by 113.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 420,932 shares of the company's stock after acquiring an additional 223,850 shares during the period. ARK Investment Management LLC owned approximately 0.23% of Rubrik worth $13,533,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Dragoneer Investment Group LLC acquired a new stake in shares of Rubrik in the 2nd quarter worth $47,523,000. Clearbridge Investments LLC acquired a new stake in shares of Rubrik in the 2nd quarter worth $32,888,000. EPIQ Capital Group LLC acquired a new stake in shares of Rubrik in the 2nd quarter worth $15,111,000. SG Americas Securities LLC acquired a new stake in shares of Rubrik in the third quarter valued at about $10,200,000. Finally, Stephens Investment Management Group LLC lifted its stake in shares of Rubrik by 3.5% in the third quarter. Stephens Investment Management Group LLC now owns 264,345 shares of the company's stock valued at $8,499,000 after purchasing an additional 8,903 shares during the period.

Insider Buying and Selling

In related news, Director Ravi Mhatre sold 15,933 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were 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 is available through this link. In related news, major shareholder Barry Eggers sold 100,000 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the transaction, the insider now owns 56,736 shares of the company's stock, valued at approximately $1,857,536.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 434,512 shares of company stock worth $14,918,182.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Wedbush raised their target price on shares of Rubrik from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Truist Financial restated a "buy" rating and set a $43.00 target price on shares of Rubrik in a report on Tuesday, September 10th. Piper Sandler started coverage on shares of Rubrik in a report on Monday, August 19th. They set an "overweight" rating and a $42.00 price target for the company. BMO Capital Markets lowered their price target 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. Finally, Robert W. Baird lifted their price target on shares of Rubrik from $42.00 to $48.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Sixteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Rubrik currently has a consensus rating of "Buy" and an average price target of $45.00.

Rubrik Trading Up 0.7 %

NYSE RBRK traded up $0.29 on Friday, reaching $44.76. The company's stock had a trading volume of 1,467,853 shares, compared to its average volume of 1,501,681. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $45.09. The business has a 50 day moving average price of $35.82.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly 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 for the quarter, compared to analyst estimates of $195.58 million. As a group, research analysts predict that Rubrik, Inc. will post -7.94 earnings per share for the current year.

Rubrik 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.