Davidson Kempner Capital Management LP Takes Position in Rubrik, Inc. (NYSE:RBRK)

Davidson Kempner Capital Management LP acquired a new position in shares of Rubrik, Inc. (NYSE:RBRK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 85,000 shares of the company’s stock, valued at approximately $2,606,000.

Other large investors have also made changes to their positions in the company. EPIQ Capital Group LLC bought a new position in Rubrik in the 2nd quarter worth approximately $15,111,000. Zweig DiMenna Associates LLC acquired a new stake in shares of Rubrik in the second quarter worth $6,730,000. Ensign Peak Advisors Inc bought a new position in Rubrik during the second quarter worth $6,287,000. ARK Investment Management LLC acquired a new position in Rubrik during the 2nd quarter valued at $6,043,000. Finally, Cisco Systems Inc. acquired a new position in Rubrik during the 2nd quarter valued at $5,613,000.

Rubrik Stock Performance

Shares of NYSE:RBRK opened at $33.29 on Monday. The firm has a fifty day moving average price of $33.47. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $40.00.

Analysts Set New Price Targets

Several analysts have issued reports on RBRK shares. Guggenheim restated a “buy” rating and issued a $48.00 price target on shares of Rubrik in a research report on Tuesday, June 25th. CIBC upped their price target on Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a report on Tuesday, September 10th. Piper Sandler began coverage on Rubrik in a research report on Monday, August 19th. They issued an “overweight” rating and a $42.00 price objective for the company. BMO Capital Markets lowered their price objective on Rubrik from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. Finally, Wedbush cut their target price on Rubrik from $50.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. Fifteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $44.69.

Insider Activity at Rubrik

In other Rubrik news, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

About Rubrik

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.