Financial Perspectives Inc Invests $732,000 in Rubrik, Inc. (NYSE:RBRK)

Financial Perspectives Inc purchased a new position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,205 shares of the company's stock, valued at approximately $732,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its stake in shares of Rubrik by 6.9% during the 3rd quarter. Janus Henderson Group PLC now owns 360,653 shares of the company's stock worth $11,595,000 after acquiring an additional 23,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Rubrik in the 3rd quarter worth about $323,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Rubrik by 24.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company's stock worth $7,998,000 after purchasing an additional 49,372 shares in the last quarter. Renaissance Capital LLC grew its holdings in Rubrik by 21.2% in the fourth quarter. Renaissance Capital LLC now owns 72,775 shares of the company's stock valued at $4,757,000 after purchasing an additional 12,714 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Rubrik in the third quarter valued at approximately $336,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RBRK has been the topic of a number of research analyst reports. Barclays lifted their price target on shares of Rubrik from $51.00 to $70.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Piper Sandler boosted their target price on shares of Rubrik from $72.00 to $83.00 and gave the stock an "overweight" rating in a research note on Thursday, December 19th. William Blair started coverage on shares of Rubrik in a research report on Friday, February 7th. They set a "market perform" rating for the company. Truist Financial lifted their price objective on Rubrik from $50.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Finally, Citigroup raised their target price on Rubrik from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.33.

Insider Activity

In other news, CFO Kiran Kumar Choudary sold 1,800 shares of the firm's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $50.38, for a total transaction of $90,684.00. Following the completion of the transaction, the chief financial officer now directly owns 373,760 shares in the company, valued at $18,830,028.80. This trade represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the sale, the executive now directly owns 337,545 shares of the company's stock, valued at $16,877,250. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 612,134 shares of company stock valued at $40,504,626 in the last quarter.

Rubrik Trading Down 3.5 %

Rubrik stock traded down $2.56 during mid-day trading on Friday, hitting $69.67. The company's stock had a trading volume of 1,922,721 shares, compared to its average volume of 2,094,337. The stock's fifty day moving average is $70.41 and its two-hundred day moving average is $50.36. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $80.00.

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.