ARK Investment Management LLC Invests $6.04 Million in Rubrik, Inc. (NYSE:RBRK)

ARK Investment Management LLC acquired a new position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 197,082 shares of the company's stock, valued at approximately $6,043,000. ARK Investment Management LLC owned about 0.11% of Rubrik as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Zweig DiMenna Associates LLC purchased a new position in shares of Rubrik during the 2nd quarter valued at $6,730,000. EFG Asset Management North America Corp. purchased a new stake in Rubrik during the second quarter valued at about $925,000. Finally, Register Financial Advisors LLC purchased a new stake in Rubrik during the second quarter valued at about $227,000.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RBRK. Guggenheim reissued a "buy" rating and issued a $48.00 price target on shares of Rubrik in a research report on Tuesday, June 25th. Mizuho began coverage on Rubrik in a research report on Monday, May 20th. They set a "buy" rating and a $46.00 target price on the stock. Robert W. Baird assumed coverage on Rubrik in a research report on Monday, July 15th. They issued an "outperform" rating and a $42.00 price target for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Rubrik in a report on Monday, May 20th. They set a "buy" rating and a $42.00 price objective on the stock. Finally, Barclays raised their target price on Rubrik from $41.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 12th. Fifteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Rubrik presently has a consensus rating of "Buy" and an average target price of $45.13.

Rubrik Price Performance

NYSE:RBRK traded down $0.20 during mid-day trading on Tuesday, hitting $35.39. 371,775 shares of the company's stock were exchanged, compared to its average volume of 1,092,783. Rubrik, Inc. has a one year low of $28.34 and a one year high of $40.00. The company has a fifty day moving average price of $32.82.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings results on Tuesday, June 11th. The company reported ($11.47) EPS for the quarter, missing analysts' consensus estimates of ($10.88) by ($0.59). The firm had revenue of $187.32 million during the quarter, compared to analysts' expectations of $171.60 million. On average, equities research analysts expect that Rubrik, Inc. will post -7.68 earnings per share for the current fiscal 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.