47,482 Shares in Rubrik, Inc. (NYSE:RBRK) Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D bought a new position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 47,482 shares of the company's stock, valued at approximately $3,103,000.

Several other institutional investors and hedge funds have also made changes to their positions in RBRK. Legacy Capital Group California Inc. purchased a new position in Rubrik in the third quarter valued at about $2,419,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Rubrik during the 3rd quarter valued at approximately $208,000. Diversify Wealth Management LLC acquired a new stake in shares of Rubrik during the third quarter worth approximately $1,808,000. Stephens Investment Management Group LLC increased its stake in shares of Rubrik by 3.5% in the third quarter. Stephens Investment Management Group LLC now owns 264,345 shares of the company's stock worth $8,499,000 after buying an additional 8,903 shares during the last quarter. Finally, ARK Investment Management LLC raised its holdings in Rubrik by 113.6% in the third quarter. ARK Investment Management LLC now owns 420,932 shares of the company's stock valued at $13,533,000 after acquiring an additional 223,850 shares in the last quarter. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Mizuho boosted their target price on shares of Rubrik from $75.00 to $82.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 17th. Citigroup boosted their price objective on Rubrik from $75.00 to $85.00 and gave the company a "buy" rating in a report on Friday, January 17th. BMO Capital Markets increased their target price on Rubrik from $38.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Piper Sandler boosted their price target on Rubrik from $72.00 to $83.00 and gave the company an "overweight" rating in a report on Thursday, December 19th. Finally, Rosenblatt Securities initiated coverage on Rubrik in a research note on Tuesday, December 17th. They set a "neutral" rating and a $77.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $65.33.

Insider Activity

In other news, Director Yvonne Wassenaar sold 2,500 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total value of $193,275.00. Following the transaction, the director now owns 153 shares in the company, valued at $11,828.43. This represents a 94.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $50.38, for a total transaction of $90,684.00. Following the sale, the chief financial officer now owns 373,760 shares of the company's stock, valued at approximately $18,830,028.80. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 612,134 shares of company stock worth $40,504,626 over the last quarter.

Rubrik Trading Down 3.5 %

Rubrik stock traded down $2.56 during midday trading on Friday, reaching $69.67. The stock had a trading volume of 1,929,800 shares, compared to its average volume of 1,776,158. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $80.00. The firm's fifty day simple moving average is $70.36 and its two-hundred day simple moving average is $50.63.

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.