Rubrik, Inc. (NYSE:RBRK) Position Increased by Stifel Financial Corp

Stifel Financial Corp lifted its position in Rubrik, Inc. (NYSE:RBRK) by 407.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,566 shares of the company’s stock after acquiring an additional 55,062 shares during the period. Stifel Financial Corp’s holdings in Rubrik were worth $2,204,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in RBRK. Point72 Asset Management L.P. acquired a new position in Rubrik in the 3rd quarter worth approximately $42,247,000. PointState Capital LP purchased a new stake in shares of Rubrik in the third quarter valued at $40,466,000. Penn Mutual Asset Management acquired a new stake in shares of Rubrik in the third quarter worth $1,036,000. Melqart Asset Management UK Ltd purchased a new position in shares of Rubrik during the third quarter valued at $14,116,000. Finally, Institutional Venture Management XV LLC raised its position in Rubrik by 3,620.4% during the third 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 period. Institutional investors and hedge funds own 49.54% of the company’s stock.

Rubrik Trading Down 1.6 %

Shares of RBRK stock opened at $66.98 on Friday. The business’s 50 day moving average is $49.37 and its two-hundred day moving average is $38.56. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $75.79.

Insider Buying and Selling

In related news, CRO Brian K. Mccarthy sold 104,672 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $31.32, for a total transaction of $3,278,327.04. Following the completion of the sale, the executive now owns 462,545 shares in the company, valued at $14,486,909.40. This represents a 18.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kiran Kumar Choudary sold 45,800 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 448,560 shares in the company, valued at $17,592,523.20. This trade represents a 9.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 493,237 shares of company stock valued at $21,391,568.

Analyst Ratings Changes

A number of brokerages have commented on RBRK. Rosenblatt Securities assumed coverage on Rubrik in a research report on Tuesday. They set a “neutral” rating and a $77.00 price objective for the company. Cantor Fitzgerald raised their price target on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Robert W. Baird upped their price objective 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. Wedbush lifted their target price on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, CIBC boosted their price target on shares of Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $64.11.

Rubrik 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.