The Manufacturers Life Insurance Company Acquires New Holdings in Rubrik, Inc. (NYSE:RBRK)

The Manufacturers Life Insurance Company bought a new stake in Rubrik, Inc. (NYSE:RBRK) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,232 shares of the company’s stock, valued at approximately $265,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new position in shares of Rubrik in the third quarter worth about $25,000. KBC Group NV bought a new position in Rubrik in the 3rd quarter worth $72,000. Quent Capital LLC purchased a new position in shares of Rubrik during the 3rd quarter worth approximately $192,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Rubrik during the 3rd quarter valued at $208,000. Finally, Sei Investments Co. purchased a new stake in shares of Rubrik in the second quarter worth $235,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Rubrik Trading Up 4.6 %

Shares of NYSE RBRK opened at $75.51 on Tuesday. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $75.79. The company’s 50-day simple moving average is $47.40 and its 200-day simple moving average is $37.86.

Analyst Ratings Changes

RBRK has been the topic of several research analyst reports. Wedbush upped 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. Guggenheim lifted their price objective on shares of Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, December 6th. CIBC increased their price objective on shares of Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a research report on Tuesday, September 10th. FBN Securities initiated coverage on shares of Rubrik in a report on Monday, September 30th. They set an “outperform” rating and a $40.00 price target on the stock. Finally, Piper Sandler restated an “overweight” rating and issued a $72.00 target price (up from $42.00) on shares of Rubrik in a research note on Friday, December 6th. One equities research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Rubrik presently has a consensus rating of “Buy” and a consensus target price of $61.88.

Insider Activity

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $31.25, for a total transaction of $781,250.00. Following the completion of the sale, the executive now directly owns 437,545 shares in the company, valued at $13,673,281.25. This trade represents a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $69.70, for a total value of $125,460.00. Following the completion of the sale, the chief financial officer now directly owns 342,160 shares of the company’s stock, valued at $23,848,552. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 560,779 shares of company stock worth $22,317,557 over the last quarter.

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.