Flaharty Asset Management LLC Acquires Shares of 4,000 Rubrik, Inc. (NYSE:RBRK)

Flaharty Asset Management LLC purchased a new stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,000 shares of the company's stock, valued at approximately $261,000.

Several other hedge funds have also added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC boosted its position in shares of Rubrik by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company's stock worth $683,000 after purchasing an additional 300 shares during the last quarter. KBC Group NV boosted its holdings in Rubrik by 19.1% during the fourth quarter. KBC Group NV now owns 2,679 shares of the company's stock worth $175,000 after buying an additional 430 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock worth $33,000 after buying an additional 500 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Rubrik during the 3rd quarter worth about $25,000. Finally, Hamilton Lane Advisors LLC increased its stake in shares of Rubrik by 3.0% in the 4th quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company's stock valued at $2,224,000 after acquiring an additional 980 shares during the last quarter. Institutional investors own 49.54% of the company's stock.

Rubrik Stock Up 2.4 %

RBRK stock traded up $1.49 during mid-day trading on Wednesday, reaching $63.05. The company had a trading volume of 1,134,343 shares, compared to its average volume of 2,024,198. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $80.00. The stock has a 50 day simple moving average of $69.65 and a two-hundred day simple moving average of $52.49.

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Analysts Set New Price Targets

RBRK has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Rubrik from $40.00 to $76.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Guggenheim restated a "buy" rating and issued a $76.00 price objective on shares of Rubrik in a research report on Wednesday, February 26th. Mizuho lifted their target price on Rubrik from $75.00 to $82.00 and gave the stock an "outperform" rating in a report on Tuesday, December 17th. Cantor Fitzgerald increased their price target on Rubrik from $58.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Finally, Piper Sandler lifted their price objective on Rubrik from $72.00 to $83.00 and gave the company an "overweight" rating in a report on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $65.56.

Insider Activity

In related news, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $64.37, for a total transaction of $1,609,250.00. Following the completion of the transaction, the executive now owns 312,545 shares in the company, valued at approximately $20,118,521.65. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Arvind Nithrakashyap sold 227,596 shares of the company's stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $64.89, for a total value of $14,768,704.44. Following the completion of the sale, the chief technology officer now owns 219,279 shares in the company, valued at $14,229,014.31. This represents a 50.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 617,543 shares of company stock valued at $41,219,163.

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.