Davidson Kempner Capital Management LP Purchases Shares of 85,000 Rubrik, Inc. (NYSE:RBRK)

Davidson Kempner Capital Management LP acquired a new position in Rubrik, Inc. (NYSE:RBRK) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 85,000 shares of the company’s stock, valued at approximately $2,606,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Register Financial Advisors LLC acquired a new position in Rubrik in the second quarter worth approximately $227,000. Sei Investments Co. acquired a new stake in shares of Rubrik during the second quarter worth $235,000. PFG Investments LLC purchased a new stake in shares of Rubrik during the second quarter valued at $242,000. Natixis Advisors LLC acquired a new position in shares of Rubrik in the 2nd quarter valued at $406,000. Finally, Bank of Montreal Can purchased a new position in Rubrik in the 2nd quarter worth about $427,000.

Insider Transactions at Rubrik

In related news, Director Ravi Mhatre sold 15,933 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Rubrik Stock Performance

Shares of RBRK opened at $33.29 on Monday. The company’s 50 day simple moving average is $33.47. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $40.00.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RBRK. Citigroup raised their target price on shares of Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. BMO Capital Markets decreased their price objective on shares of Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. KeyCorp boosted their target price on shares of Rubrik from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, June 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Rubrik in a research report on Tuesday, September 10th. Finally, Truist Financial reiterated a “buy” rating and set a $43.00 price target on shares of Rubrik in a report on Tuesday, September 10th. Fifteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $44.69.

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.