Robertson Stephens Wealth Management LLC Makes New $450,000 Investment in Rubrik, Inc. (NYSE:RBRK)

Robertson Stephens Wealth Management LLC purchased a new position in shares of Rubrik, Inc. (NYSE:RBRK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,891 shares of the company’s stock, valued at approximately $450,000.

A number of other large investors also recently made changes to their positions in the business. Wealthcare Advisory Partners LLC raised its position in shares of Rubrik by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock worth $683,000 after buying an additional 300 shares during the period. KBC Group NV raised its position in shares of Rubrik by 19.1% in the 4th quarter. KBC Group NV now owns 2,679 shares of the company’s stock worth $175,000 after buying an additional 430 shares during the period. Brown Brothers Harriman & Co. purchased a new position in shares of Rubrik in the 3rd quarter worth $25,000. Hamilton Lane Advisors LLC raised its position in shares of Rubrik by 3.0% in the 4th quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company’s stock worth $2,224,000 after buying an additional 980 shares during the period. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Rubrik in the 4th quarter worth $70,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Rubrik Trading Down 1.1 %

NYSE:RBRK opened at $74.52 on Friday. Rubrik, Inc. has a one year low of $28.34 and a one year high of $79.05. The stock has a 50-day simple moving average of $67.78 and a 200 day simple moving average of $47.78.

Insider Buying and Selling

In related news, CFO Kiran Kumar Choudary sold 3,973 shares of Rubrik stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total value of $287,406.82. Following the completion of the transaction, the chief financial officer now directly owns 345,374 shares in the company, valued at approximately $24,984,355.16. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Arvind Nithrakashyap sold 32,485 shares of Rubrik stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $74.85, for a total value of $2,431,502.25. Following the completion of the transaction, the chief technology officer now owns 219,279 shares of the company’s stock, valued at $16,413,033.15. This trade represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 659,104 shares of company stock worth $42,720,088.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Robert W. Baird raised their price objective on Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Mizuho raised their price objective on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Guggenheim raised their price objective on Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Barclays raised their price objective on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Three 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 stock. According to data from MarketBeat, Rubrik currently has an average rating of “Moderate Buy” and a consensus price target of $64.67.

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.