HighTower Advisors LLC Makes New $1.50 Million Investment in Rubrik, Inc. (NYSE:RBRK)

HighTower Advisors LLC acquired a new position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 22,880 shares of the company's stock, valued at approximately $1,495,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in shares of Rubrik in the 3rd quarter valued at $42,247,000. PointState Capital LP purchased a new position in shares of Rubrik in the 3rd quarter worth $40,466,000. Institutional Venture Management XV LLC boosted its holdings in Rubrik by 3,620.4% in the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company's stock valued at $37,378,000 after acquiring an additional 1,131,360 shares during the last quarter. Summit Partners Public Asset Management LLC purchased a new stake in Rubrik during the third quarter valued at about $33,148,000. Finally, Geode Capital Management LLC increased its stake in Rubrik by 133.3% during the third quarter. Geode Capital Management LLC now owns 568,646 shares of the company's stock worth $18,290,000 after acquiring an additional 324,951 shares during the last quarter. Hedge funds and other institutional investors own 49.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RBRK. Wedbush increased their target price on shares of Rubrik from $75.00 to $80.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. Barclays upped their price target on shares of Rubrik from $51.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. William Blair assumed coverage on Rubrik in a research note on Friday, February 7th. They set a "market perform" rating on the stock. BMO Capital Markets boosted their price target on Rubrik from $72.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $85.00 target price on shares of Rubrik in a research report on Friday, March 14th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Rubrik presently has an average rating of "Buy" and an average price target of $70.00.

Remove Ads

Rubrik Stock Down 3.6 %

Shares of Rubrik stock traded down $2.35 during trading on Friday, hitting $63.65. The stock had a trading volume of 3,232,248 shares, compared to its average volume of 1,996,432. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $80.00. The stock has a 50 day simple moving average of $69.17 and a 200 day simple moving average of $55.81. The company has a market capitalization of $11.79 billion and a PE ratio of -4.62.

Rubrik (NYSE:RBRK - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The business had revenue of $258.10 million for the quarter, compared to the consensus estimate of $233.13 million. The firm's revenue for the quarter was up 47.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.59) earnings per share. As a group, equities analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rubrik news, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $65.72, for a total transaction of $118,296.00. Following the completion of the sale, the chief financial officer now owns 342,974 shares of the company's stock, valued at $22,540,251.28. This trade represents a 0.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Yvonne Wassenaar sold 2,500 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total transaction of $193,275.00. Following the completion of the transaction, the director now directly owns 153 shares in the company, valued at $11,828.43. This trade represents a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 792,426 shares of company stock worth $53,187,894.

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.