Geneos Wealth Management Inc. Makes New $70,000 Investment in Rubrik, Inc. (NYSE:RBRK)

Geneos Wealth Management Inc. acquired a new stake in shares of Rubrik, Inc. (NYSE:RBRK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,064 shares of the company’s stock, valued at approximately $70,000.

Several other institutional investors and hedge funds have also modified their holdings of RBRK. Champlain Investment Partners LLC bought a new position in Rubrik during the 3rd quarter worth about $44,418,000. Point72 Asset Management L.P. bought a new position in shares of Rubrik during the third quarter worth about $42,247,000. PointState Capital LP acquired a new stake in Rubrik in the 3rd quarter valued at approximately $40,466,000. Institutional Venture Management XV LLC lifted its stake 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 valued at $37,378,000 after acquiring an additional 1,131,360 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new position in Rubrik during the 3rd quarter worth approximately $35,359,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RBRK. Cantor Fitzgerald boosted their price objective on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. KeyCorp boosted their price target on shares of Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Guggenheim raised their price objective on Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a report on Friday, December 6th. Piper Sandler upped their target price on Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Finally, Rosenblatt Securities assumed coverage on Rubrik in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target for the company. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $64.67.

Rubrik Stock Performance

Shares of RBRK stock opened at $73.54 on Friday. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month high of $77.22. The firm has a 50 day moving average price of $65.39 and a two-hundred day moving average price of $46.40.

Insider Buying and Selling

In other news, CFO Kiran Kumar Choudary sold 7,330 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $45.04, for a total transaction of $330,143.20. Following the transaction, the chief financial officer now directly owns 398,830 shares of the company’s stock, valued at approximately $17,963,303.20. This trade represents a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total transaction of $169,000.00. Following the completion of the sale, the director now owns 153 shares of the company’s stock, valued at approximately $10,342.80. The trade was a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 569,255 shares of company stock valued at $35,981,878.

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.