Pathway Capital Management LP Buys New Shares in Rubrik, Inc. (NYSE:RBRK)

Pathway Capital Management LP acquired a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 731,804 shares of the company's stock, valued at approximately $23,527,000. Rubrik makes up about 44.4% of Pathway Capital Management LP's portfolio, making the stock its largest holding. Pathway Capital Management LP owned approximately 0.41% of Rubrik at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC purchased a new position in shares of Rubrik during the 2nd quarter valued at about $47,523,000. Clearbridge Investments LLC purchased a new stake in shares of Rubrik during the 2nd quarter valued at $32,888,000. EPIQ Capital Group LLC acquired a new position in Rubrik in the second quarter valued at approximately $15,111,000. SG Americas Securities LLC acquired a new stake in Rubrik in the 3rd quarter valued at about $10,200,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Rubrik during the 2nd quarter worth about $7,665,000.

Wall Street Analyst Weigh In

RBRK has been the topic of a number of analyst reports. Piper Sandler started coverage on shares of Rubrik in a research report on Monday, August 19th. They set an "overweight" rating and a $42.00 target price on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $50.00 price objective on shares of Rubrik in a report on Tuesday, September 10th. Wedbush increased their target price on Rubrik from $44.00 to $48.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Wells Fargo & Company dropped their price objective on Rubrik from $42.00 to $40.00 and set an "overweight" rating for the company in a research report on Tuesday, September 10th. Finally, Robert W. Baird lifted their price target on Rubrik from $42.00 to $48.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Sixteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Rubrik currently has a consensus rating of "Buy" and a consensus target price of $45.00.

Insider Transactions at Rubrik

In related news, CFO Kiran Kumar Choudary sold 2,670 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $45.07, for a total value of $120,336.90. Following the completion of the transaction, the chief financial officer now directly owns 396,160 shares of the company's stock, valued at approximately $17,854,931.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CRO Brian K. Mccarthy sold 104,672 shares of Rubrik stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $31.32, for a total value of $3,278,327.04. Following the completion of the transaction, the executive now owns 462,545 shares in the company, valued at approximately $14,486,909.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kiran Kumar Choudary sold 2,670 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $45.07, for a total value of $120,336.90. Following the sale, the chief financial officer now directly owns 396,160 shares in the company, valued at approximately $17,854,931.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 444,512 shares of company stock valued at $15,368,662.

Rubrik Stock Up 1.1 %

NYSE:RBRK traded up $0.49 during mid-day trading on Tuesday, reaching $44.81. The company's stock had a trading volume of 950,398 shares, compared to its average volume of 1,494,219. The company's fifty day simple moving average is $36.20 and its two-hundred day simple moving average is $34.19. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $45.90.

Rubrik (NYSE:RBRK - Get Free Report) last issued its 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 company had revenue of $204.95 million for the quarter, compared to analysts' expectations of $195.58 million. On average, research analysts forecast that Rubrik, Inc. will post -7.94 EPS for the current year.

About Rubrik

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.