The Manufacturers Life Insurance Company Takes $265,000 Position in Rubrik, Inc. (NYSE:RBRK)

The Manufacturers Life Insurance Company bought a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,232 shares of the company's stock, valued at approximately $265,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RBRK. Dragoneer Investment Group LLC bought a new position in Rubrik in the second quarter valued at about $47,523,000. Champlain Investment Partners LLC bought a new position in shares of Rubrik in the 3rd quarter worth about $44,418,000. Penserra Capital Management LLC acquired a new position in shares of Rubrik in the 3rd quarter valued at about $35,359,000. Clearbridge Investments LLC bought a new stake in shares of Rubrik during the 2nd quarter valued at about $32,888,000. Finally, Pathway Capital Management LP acquired a new stake in Rubrik during the third quarter worth approximately $23,527,000. Institutional investors own 49.54% of the company's stock.

Insider Activity at Rubrik

In related news, CFO Kiran Kumar Choudary sold 51,924 shares of the company's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $31.41, for a total transaction of $1,630,932.84. Following the completion of the transaction, the chief financial officer now owns 493,360 shares in the company, valued at $15,496,437.60. This represents a 9.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the firm's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $64.37, for a total transaction of $1,609,250.00. Following the completion of the sale, the executive now directly owns 312,545 shares of the company's stock, valued at approximately $20,118,521.65. This represents a 7.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 560,779 shares of company stock worth $22,317,557 in the last three months.

Rubrik Stock Down 3.4 %

Shares of RBRK traded down $2.56 during trading hours on Tuesday, hitting $72.95. The company had a trading volume of 3,889,494 shares, compared to its average volume of 1,693,571. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $75.79. The stock's 50 day moving average price is $47.40 and its 200 day moving average price is $37.86.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RBRK shares. Cantor Fitzgerald upped their target price on Rubrik from $58.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Citigroup raised their price objective on shares of Rubrik from $48.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Piper Sandler reissued an "overweight" rating and set a $72.00 target price (up from $42.00) on shares of Rubrik in a research report on Friday, December 6th. CIBC raised their price target on shares of Rubrik from $50.00 to $52.00 and gave the company an "outperformer" rating in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company boosted their price objective on Rubrik from $40.00 to $76.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Two 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 company. According to MarketBeat, Rubrik currently has an average rating of "Buy" and a consensus target price of $63.50.

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.