Renaissance Capital LLC Purchases 12,714 Shares of Rubrik, Inc. (NYSE:RBRK)

Renaissance Capital LLC lifted its holdings in Rubrik, Inc. (NYSE:RBRK - Free Report) by 21.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,775 shares of the company's stock after buying an additional 12,714 shares during the period. Rubrik makes up 3.1% of Renaissance Capital LLC's holdings, making the stock its 15th biggest position. Renaissance Capital LLC's holdings in Rubrik were worth $4,757,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sei Investments Co. acquired a new position in Rubrik in the second quarter valued at about $235,000. Bank of Montreal Can purchased a new position in Rubrik in the 2nd quarter valued at approximately $427,000. Millennium Management LLC purchased a new stake in shares of Rubrik during the second quarter worth $6,272,000. Diversified Trust Co acquired a new stake in shares of Rubrik in the third quarter valued at $432,000. Finally, Legacy Capital Group California Inc. purchased a new position in Rubrik in the third quarter valued at $2,419,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Rubrik Price Performance

Shares of Rubrik stock traded up $1.52 during trading on Wednesday, hitting $75.60. 1,190,124 shares of the company's stock traded hands, compared to its average volume of 2,208,666. The firm's fifty day moving average price is $66.80 and its 200 day moving average price is $47.31. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $77.22.

Insider Buying and Selling at Rubrik

In other news, Director Yvonne Wassenaar sold 2,500 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the sale, the director now directly owns 153 shares in the company, valued at approximately $10,342.80. This trade represents a 94.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Arvind Nithrakashyap sold 227,596 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $64.89, for a total value of $14,768,704.44. Following the completion of the transaction, the chief technology officer now owns 219,279 shares in the company, valued at $14,229,014.31. The trade was a 50.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 666,434 shares of company stock valued at $43,050,231.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RBRK. Guggenheim upped their target price on shares of Rubrik from $52.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Robert W. Baird increased their price objective on shares of Rubrik from $48.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, December 5th. Truist Financial lifted their price objective on shares of Rubrik from $50.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Oppenheimer initiated coverage on Rubrik in a report on Wednesday, November 13th. They issued a "market perform" rating on the stock. Finally, Rosenblatt Securities assumed coverage on Rubrik in a report on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Rubrik has a consensus rating of "Buy" and a consensus price target of $64.67.

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.