Green Alpha Advisors LLC Takes $346,000 Position in Rubrik, Inc. (NYSE:RBRK)

Green Alpha Advisors LLC acquired a new position in Rubrik, Inc. (NYSE:RBRK) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,290 shares of the company’s stock, valued at approximately $346,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RBRK. Dragoneer Investment Group LLC bought a new stake in shares of Rubrik during the 2nd quarter valued at about $47,523,000. Champlain Investment Partners LLC acquired a new position in Rubrik in the third quarter valued at approximately $44,418,000. Point72 Asset Management L.P. bought a new position in shares of Rubrik during the 3rd quarter worth approximately $42,247,000. PointState Capital LP acquired a new stake in shares of Rubrik during the 3rd quarter worth approximately $40,466,000. Finally, Institutional Venture Management XV LLC increased its stake in shares of 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. 49.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 1,800 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $62.60, for a total value of $112,680.00. Following the completion of the sale, the chief financial officer now directly owns 342,174 shares of the company’s stock, valued at $21,420,092.40. This trade represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $50.38, for a total value of $1,259,500.00. Following the transaction, the executive now directly owns 362,545 shares in the company, valued at $18,265,017.10. This represents a 6.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 401,742 shares of company stock worth $23,523,146.

Rubrik Stock Performance

Shares of NYSE:RBRK opened at $65.05 on Tuesday. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $75.79. The business has a fifty day moving average price of $57.84 and a two-hundred day moving average price of $42.58.

Analysts Set New Price Targets

RBRK has been the topic of several research analyst reports. Rosenblatt Securities initiated coverage on shares of Rubrik in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target for the company. Piper Sandler raised their target price on Rubrik from $72.00 to $83.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. KeyCorp upped their price target on Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. BMO Capital Markets raised their price objective on Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, FBN Securities started coverage on Rubrik in a research report on Monday, September 30th. They set an “outperform” rating and a $40.00 target price on the stock. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Rubrik presently has an average rating of “Buy” and a consensus price target of $64.11.

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.