Stifel Financial Corp Purchases 55,062 Shares of Rubrik, Inc. (NYSE:RBRK)

Stifel Financial Corp lifted its stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 407.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,566 shares of the company's stock after purchasing an additional 55,062 shares during the quarter. Stifel Financial Corp's holdings in Rubrik were worth $2,204,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC bought a new stake in Rubrik during the 2nd quarter worth approximately $47,523,000. Champlain Investment Partners LLC purchased a new position in shares of Rubrik during the third quarter valued at approximately $44,418,000. Point72 Asset Management L.P. bought a new stake in Rubrik during the third quarter worth $42,247,000. PointState Capital LP bought a new stake in Rubrik during the third quarter worth $40,466,000. Finally, Institutional Venture Management XV LLC raised its position in Rubrik by 3,620.4% in the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company's stock valued at $37,378,000 after buying an additional 1,131,360 shares during the last quarter. Institutional investors and hedge funds own 49.54% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on RBRK. BMO Capital Markets lifted their price objective on shares of Rubrik from $38.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. CIBC boosted their price target on shares of Rubrik from $50.00 to $52.00 and gave the stock an "outperformer" rating in a report on Tuesday, September 10th. Wells Fargo & Company increased their price objective on shares of Rubrik from $40.00 to $76.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Cantor Fitzgerald boosted their target price on Rubrik from $58.00 to $70.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Finally, Mizuho upped their target price on Rubrik from $75.00 to $82.00 and gave the company an "outperform" rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $64.11.

Rubrik Trading Down 1.3 %

NYSE:RBRK traded down $0.86 during midday trading on Friday, reaching $66.12. 8,305,581 shares of the stock traded hands, compared to its average volume of 1,777,755. The company has a fifty day moving average of $49.37 and a 200 day moving average of $38.56. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $75.79.

Insider Buying and Selling at Rubrik

In related news, CFO Kiran Kumar Choudary sold 45,800 shares of Rubrik stock in a transaction on Monday, October 14th. The shares were sold at an average price of $39.22, for a total value of $1,796,276.00. Following the sale, the chief financial officer now owns 448,560 shares in the company, valued at $17,592,523.20. The trade was a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the executive now directly owns 462,545 shares in the company, valued at approximately $14,486,909.40. The trade was a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 493,237 shares of company stock worth $21,391,568.

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.