KBC Group NV Boosts Holdings in Rubrik, Inc. (NYSE:RBRK)

KBC Group NV boosted its stake in shares of Rubrik, Inc. (NYSE:RBRK) by 19.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,679 shares of the company’s stock after acquiring an additional 430 shares during the period. KBC Group NV’s holdings in Rubrik were worth $175,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RBRK. Champlain Investment Partners LLC purchased a new position in Rubrik in the third quarter worth about $44,418,000. Point72 Asset Management L.P. bought a new stake in shares of Rubrik in the 3rd quarter valued at approximately $42,247,000. PointState Capital LP bought a new position in Rubrik during the third quarter valued at $40,466,000. Institutional Venture Management XV LLC raised its position in Rubrik by 3,620.4% in the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock worth $37,378,000 after purchasing an additional 1,131,360 shares during the period. Finally, Penserra Capital Management LLC bought a new stake in Rubrik in the third quarter worth about $35,359,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on RBRK. KeyCorp increased their price target on Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Piper Sandler raised their target price on shares of Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. 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. Cantor Fitzgerald upped their price objective on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company raised their target price on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Rubrik currently has an average rating of “Buy” and a consensus target price of $64.67.

Insider Transactions at Rubrik

In related news, CRO Brian K. Mccarthy sold 65,517 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $66.06, for a total value of $4,328,053.02. Following the sale, the executive now owns 406,043 shares in the company, valued at $26,823,200.58. This represents a 13.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,499 shares of the business’s stock in a transaction on Monday, January 6th. The shares were 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. Over the last 90 days, insiders have sold 666,434 shares of company stock worth $43,050,231.

Rubrik Trading Up 2.0 %

Shares of RBRK opened at $75.60 on Thursday. The stock has a fifty day moving average price of $66.80 and a 200-day moving average price of $47.31. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $77.22.

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.