Legacy Capital Group California Inc. Invests $2.42 Million in Rubrik, Inc. (NYSE:RBRK)

Legacy Capital Group California Inc. bought a new position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 75,240 shares of the company's stock, valued at approximately $2,419,000. Rubrik accounts for 0.8% of Legacy Capital Group California Inc.'s holdings, making the stock its 16th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Register Financial Advisors LLC purchased a new stake in shares of Rubrik during the 2nd quarter valued at $227,000. Zweig DiMenna Associates LLC acquired a new position in Rubrik in the second 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. ARK Investment Management LLC acquired a new stake in Rubrik during the second quarter worth about $6,043,000. Finally, Cisco Systems Inc. acquired a new stake in Rubrik during the second quarter worth about $5,613,000.

Rubrik Stock Up 1.3 %

RBRK stock traded up $0.50 during midday trading on Friday, hitting $39.41. 1,519,578 shares of the company's stock were exchanged, compared to its average volume of 1,517,853. The business has a 50 day moving average of $34.60. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month high of $41.33.

Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts' consensus estimates of ($0.96) by ($0.01). The firm had revenue of $204.95 million for the quarter, compared to analyst estimates of $195.58 million. As a group, sell-side analysts anticipate that Rubrik, Inc. will post -7.94 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Kiran Kumar Choudary sold 51,924 shares of Rubrik stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $31.41, for a total value of $1,630,932.84. Following the completion of the transaction, the chief financial officer now directly owns 493,360 shares in the company, valued at approximately $15,496,437.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Rubrik news, CRO Brian K. Mccarthy sold 104,672 shares of the business's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total transaction of $3,278,327.04. Following the completion of the sale, the executive now owns 462,545 shares in the company, valued at $14,486,909.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kiran Kumar Choudary sold 51,924 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $31.41, for a total transaction of $1,630,932.84. Following the sale, the chief financial officer now directly owns 493,360 shares in the company, valued at $15,496,437.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 375,912 shares of company stock valued at $12,546,185 in the last ninety days.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. CIBC boosted their target price on Rubrik from $50.00 to $52.00 and gave the stock an "outperformer" rating in a report on Tuesday, September 10th. Baird R W raised shares of Rubrik to a "strong-buy" rating in a research report on Monday, July 15th. Robert W. Baird began coverage on shares of Rubrik in a research note on Monday, July 15th. They issued an "outperform" rating and a $42.00 target price on the stock. FBN Securities started coverage on shares of Rubrik in a research report on Monday, September 30th. They set an "outperform" rating and a $40.00 price target for the company. Finally, Truist Financial reiterated a "buy" rating and issued a $43.00 price target on shares of Rubrik in a report on Tuesday, September 10th. Sixteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $44.65.

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.