Legacy Capital Group California Inc. Grows Stake in Rubrik, Inc. (NYSE:RBRK)

Legacy Capital Group California Inc. lifted its position in Rubrik, Inc. (NYSE:RBRK - Free Report) by 140.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,117 shares of the company's stock after purchasing an additional 105,877 shares during the quarter. Rubrik accounts for about 3.6% of Legacy Capital Group California Inc.'s holdings, making the stock its 4th largest holding. Legacy Capital Group California Inc. owned approximately 0.10% of Rubrik worth $11,838,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Champlain Investment Partners LLC bought a new position in Rubrik in the third quarter worth about $44,418,000. Point72 Asset Management L.P. purchased a new position in Rubrik during the third quarter valued at $42,247,000. PointState Capital LP bought a new position in Rubrik in the 3rd quarter worth about $40,466,000. Institutional Venture Management XV LLC boosted its stake in Rubrik by 3,620.4% during 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 purchasing an additional 1,131,360 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new position in Rubrik in the 3rd quarter worth about $35,359,000. 49.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RBRK shares. Cantor Fitzgerald raised their price target on Rubrik from $58.00 to $70.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Citigroup boosted their price target on Rubrik from $75.00 to $85.00 and gave the company a "buy" rating in a report on Friday, January 17th. Guggenheim raised their price objective on 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 lifted their target price on shares of Rubrik from $48.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, December 5th. Finally, Barclays raised their price target on Rubrik from $51.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Three investment 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 presently has an average rating of "Moderate Buy" and an average target price of $65.33.

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Insider Activity

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the sale, the executive now owns 337,545 shares in the company, valued at approximately $16,877,250. This represents a 6.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,499 shares of Rubrik stock in a transaction on Monday, January 6th. The stock was sold at an average price of $67.66, for a total transaction of $2,198,882.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 610,334 shares of company stock worth $40,413,942.

Rubrik Price Performance

Rubrik stock traded down $3.73 during mid-day trading on Tuesday, reaching $63.99. 1,846,004 shares of the company's stock traded hands, compared to its average volume of 2,126,281. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month high of $80.00. The stock has a 50 day moving average of $70.20 and a two-hundred day moving average of $51.17.

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.