ARK Investment Management LLC Increases Holdings in Rubrik, Inc. (NYSE:RBRK)

ARK Investment Management LLC boosted its position in Rubrik, Inc. (NYSE:RBRK) by 113.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,932 shares of the company’s stock after purchasing an additional 223,850 shares during the period. ARK Investment Management LLC’s holdings in Rubrik were worth $13,533,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RBRK. Stephens Investment Management Group LLC increased its position in shares of Rubrik by 3.5% in the third quarter. Stephens Investment Management Group LLC now owns 264,345 shares of the company’s stock valued at $8,499,000 after buying an additional 8,903 shares in the last quarter. Diversify Wealth Management LLC purchased a new stake in shares of Rubrik in the third quarter valued at about $1,808,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Rubrik during the 3rd quarter worth approximately $208,000. Legacy Capital Group California Inc. acquired a new stake in Rubrik during the 3rd quarter valued at $2,419,000. Finally, Renaissance Capital LLC increased its position in Rubrik by 190.1% during the third quarter. Renaissance Capital LLC now owns 60,061 shares of the company’s stock worth $1,931,000 after buying an additional 39,354 shares in the last quarter.

Insiders Place Their Bets

In related news, CFO Kiran Kumar Choudary sold 4,500 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $41.99, for a total value of $188,955.00. Following the completion of the transaction, the chief financial officer now directly owns 417,760 shares of the company’s stock, valued at $17,541,742.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Kiran Kumar Choudary sold 4,500 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $41.99, for a total value of $188,955.00. Following the completion of the transaction, the chief financial officer now owns 417,760 shares in the company, valued at $17,541,742.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The disclosure for this sale can be found here. In the last 90 days, insiders sold 420,912 shares of company stock worth $14,386,330.

Rubrik Stock Performance

Shares of NYSE RBRK opened at $44.50 on Friday. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month high of $44.98. The business has a 50 day moving average of $35.82.

Rubrik (NYSE:RBRK) last announced its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) 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 the consensus estimate of $195.58 million. On average, research analysts forecast that Rubrik, Inc. will post -7.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Truist Financial reissued a “buy” rating and issued a $43.00 target price on shares of Rubrik in a research note on Tuesday, September 10th. Piper Sandler started coverage on shares of Rubrik in a research note on Monday, August 19th. They set an “overweight” rating and a $42.00 price objective on the stock. Robert W. Baird lifted their target price on shares of Rubrik from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Baird R W upgraded Rubrik to a “strong-buy” rating in a report on Monday, July 15th. Finally, CIBC upped their target price on Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a research note on Tuesday, September 10th. Sixteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $45.00.

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.