Millennium Management LLC Takes $6.27 Million Position in Rubrik, Inc. (NYSE:RBRK)

Millennium Management LLC purchased a new position in Rubrik, Inc. (NYSE:RBRK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 204,579 shares of the company’s stock, valued at approximately $6,272,000. Millennium Management LLC owned about 0.11% of Rubrik as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in RBRK. Dragoneer Investment Group LLC purchased a new position in Rubrik in the second quarter valued at about $47,523,000. EPIQ Capital Group LLC purchased a new position in Rubrik in the second quarter valued at approximately $15,111,000. Zweig DiMenna Associates LLC purchased a new position in Rubrik in the second quarter valued at approximately $6,730,000. Ensign Peak Advisors Inc bought a new position in Rubrik during the second quarter valued at $6,287,000. Finally, Maverick Capital Ltd. purchased a new stake in Rubrik in the second quarter worth $6,132,000.

Rubrik Trading Up 7.6 %

Shares of RBRK opened at $38.71 on Friday. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $40.00. The company has a 50 day moving average of $32.99.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The firm had revenue of $204.95 million for the quarter, compared to analysts’ expectations of $195.58 million. On average, analysts anticipate that Rubrik, Inc. will post -7.95 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. FBN Securities started coverage on Rubrik in a research report on Monday, September 30th. They set an “outperform” rating and a $40.00 price target on the stock. CIBC upped their price objective on shares of Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a report on Tuesday, September 10th. Citigroup lifted their target price on shares of Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Truist Financial restated a “buy” rating and set a $43.00 price target on shares of Rubrik in a research note on Tuesday, September 10th. Finally, Wedbush cut their price objective on shares of Rubrik from $50.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. Sixteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Rubrik presently has a consensus rating of “Buy” and an average price target of $44.41.

Insiders Place Their Bets

In related news, major shareholder Barry Eggers sold 100,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the transaction, the insider now directly owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Barry Eggers sold 100,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the transaction, the insider now owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. Insiders sold a total of 297,529 shares of company stock valued at $9,445,527 over the last 90 days.

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.