Caprock Group LLC Takes $1.93 Million Position in Rubrik, Inc. (NYSE:RBRK)

Caprock Group LLC acquired a new stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 29,489 shares of the company's stock, valued at approximately $1,927,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. bought a new stake in Rubrik during the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. purchased a new position in shares of Rubrik in the fourth quarter valued at $70,000. KBC Group NV purchased a new stake in shares of Rubrik during the 3rd quarter valued at about $72,000. Quent Capital LLC purchased a new position in shares of Rubrik in the 3rd quarter worth approximately $192,000. Finally, Shikiar Asset Management Inc. purchased a new stake in shares of Rubrik in the fourth quarter valued at $203,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Rubrik Price Performance

Shares of RBRK stock traded up $1.52 during mid-day trading on Wednesday, reaching $75.60. The stock had a trading volume of 1,190,124 shares, compared to its average volume of 2,208,666. Rubrik, Inc. has a one year low of $28.34 and a one year high of $77.22. The firm's 50 day simple moving average is $66.80 and its 200 day simple moving average is $47.31.

Insiders Place Their Bets

In related news, CTO Arvind Nithrakashyap sold 227,596 shares of the business's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total value of $14,768,704.44. Following the completion of the transaction, the chief technology officer now owns 219,279 shares of the company's stock, valued at $14,229,014.31. The trade was a 50.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kiran Kumar Choudary sold 10,000 shares of the business'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 transaction, the chief financial officer now owns 385,360 shares of the company's stock, valued at approximately $17,140,812.80. This represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 666,434 shares of company stock valued at $43,050,231.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RBRK. Mizuho lifted their price target on shares of Rubrik from $75.00 to $82.00 and gave the company an "outperform" rating in a research note on Tuesday, December 17th. Oppenheimer initiated coverage on Rubrik in a research note on Wednesday, November 13th. They set a "market perform" rating on the stock. BMO Capital Markets boosted their price objective on shares of Rubrik from $38.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Cantor Fitzgerald lifted their price objective on shares of Rubrik from $58.00 to $70.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Finally, Barclays lifted their price target on Rubrik from $51.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Two 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $64.67.

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.