Geode Capital Management LLC Grows Position in Rubrik, Inc. (NYSE:RBRK)

Geode Capital Management LLC raised its position in Rubrik, Inc. (NYSE:RBRK) by 133.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 568,646 shares of the company’s stock after purchasing an additional 324,951 shares during the quarter. Geode Capital Management LLC owned 0.32% of Rubrik worth $18,290,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Dragoneer Investment Group LLC bought a new position in shares of Rubrik during the second quarter valued at approximately $47,523,000. Champlain Investment Partners LLC bought a new position in Rubrik in the 3rd quarter valued at $44,418,000. Point72 Asset Management L.P. purchased a new stake in Rubrik in the third quarter worth $42,247,000. PointState Capital LP bought a new stake in shares of Rubrik during the third quarter worth $40,466,000. Finally, Institutional Venture Management XV LLC boosted its stake in shares of 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 purchasing an additional 1,131,360 shares during the period. Institutional investors own 49.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on RBRK shares. Truist Financial lifted their price target on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Barclays upped their target price on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Guggenheim raised their price target on Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, December 6th. BMO Capital Markets upped their price objective on shares of Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Wedbush raised their target price on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Rubrik currently has an average rating of “Buy” and a consensus target price of $64.11.

Insider Buying and Selling at Rubrik

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $40.00, for a total value of $1,000,000.00. Following the completion of the transaction, the executive now owns 412,545 shares of the company’s stock, valued at $16,501,800. The trade was a 5.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kiran Kumar Choudary sold 45,800 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was 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 directly owns 448,560 shares in the company, valued at approximately $17,592,523.20. This trade represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 336,641 shares of company stock worth $16,482,308.

Rubrik Price Performance

Shares of RBRK opened at $68.35 on Friday. The company’s fifty day moving average price is $52.77 and its 200-day moving average price is $40.02. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $75.79.

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.