Regents of The University of California Invests $958,000 in Rubrik, Inc. (NYSE:RBRK)

Regents of The University of California acquired a new stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 14,651 shares of the company's stock, valued at approximately $958,000. Rubrik accounts for about 0.3% of Regents of The University of California's portfolio, making the stock its 5th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE raised its stake in Rubrik by 1,329.9% during the 4th quarter. US Bancorp DE now owns 19,547 shares of the company's stock worth $1,278,000 after acquiring an additional 18,180 shares during the period. Dynasty Wealth Management LLC bought a new position in Rubrik in the 4th quarter worth $291,000. Versor Investments LP purchased a new stake in Rubrik in the 4th quarter worth $648,000. Legacy Capital Group California Inc. raised its holdings in Rubrik by 140.7% during the fourth quarter. Legacy Capital Group California Inc. now owns 181,117 shares of the company's stock valued at $11,838,000 after acquiring an additional 105,877 shares during the period. Finally, Financial Perspectives Inc bought a new stake in Rubrik during the fourth quarter valued at about $732,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on RBRK. Robert W. Baird increased their target price on Rubrik from $48.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, December 5th. Guggenheim reiterated a "buy" rating and issued a $76.00 price target on shares of Rubrik in a report on Wednesday, February 26th. Truist Financial increased their price objective on shares of Rubrik from $50.00 to $75.00 and gave the company a "buy" rating in a report on Friday, December 6th. BMO Capital Markets increased their price target on Rubrik from $38.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company lifted their price objective on Rubrik from $40.00 to $76.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $65.56.

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Rubrik Stock Up 2.4 %

Shares of RBRK traded up $1.49 during trading hours on Wednesday, reaching $63.05. 1,134,343 shares of the company traded hands, compared to its average volume of 2,024,198. The stock's fifty day moving average price is $69.65 and its 200 day moving average price is $52.49. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month high of $80.00.

Insider Buying and Selling at Rubrik

In other Rubrik news, CTO Arvind Nithrakashyap sold 227,596 shares of the company's stock in a transaction on Tuesday, January 14th. The stock was 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 directly owns 219,279 shares in the company, valued at approximately $14,229,014.31. This represents a 50.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kiran Kumar Choudary sold 30,000 shares of the firm's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $65.78, for a total value of $1,973,400.00. Following the transaction, the chief financial officer now owns 342,960 shares in the company, valued at approximately $22,559,908.80. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 617,543 shares of company stock valued at $41,219,163 in the last three months.

Rubrik Company 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.