Point72 Asset Management L.P. Takes Position in Rubrik, Inc. (NYSE:RBRK)

Point72 Asset Management L.P. bought a new stake in Rubrik, Inc. (NYSE:RBRK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,314,062 shares of the company’s stock, valued at approximately $42,247,000. Point72 Asset Management L.P. owned 0.73% of Rubrik at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. PointState Capital LP acquired a new position in shares of Rubrik in the third quarter valued at approximately $40,466,000. Penn Mutual Asset Management acquired a new position in shares of Rubrik in the third quarter valued at approximately $1,036,000. Melqart Asset Management UK Ltd acquired a new position in shares of Rubrik in the third quarter valued at approximately $14,116,000. Institutional Venture Management XV LLC grew its holdings in Rubrik by 3,620.4% during the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock worth $37,378,000 after acquiring an additional 1,131,360 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Rubrik by 6.9% during the third quarter. Janus Henderson Group PLC now owns 360,653 shares of the company’s stock worth $11,595,000 after acquiring an additional 23,200 shares during the period.

Insider Buying and Selling

In other news, CFO Kiran Kumar Choudary sold 51,924 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $31.41, for a total value of $1,630,932.84. Following the completion of the sale, the chief financial officer now owns 493,360 shares in the company, valued at approximately $15,496,437.60. This trade represents a 9.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction dated 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 completion of the sale, the executive now owns 362,545 shares of the company’s stock, valued at approximately $18,265,017.10. This trade represents a 6.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 518,112 shares of company stock worth $18,997,746.

Rubrik Stock Performance

Shares of NYSE:RBRK opened at $52.62 on Thursday. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $54.00. The stock’s fifty day simple moving average is $41.56 and its 200-day simple moving average is $35.86.

Rubrik (NYSE:RBRK) last released its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The company had revenue of $204.95 million during the quarter, compared to analysts’ expectations of $195.58 million. On average, equities research analysts anticipate that Rubrik, Inc. will post -8.04 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RBRK. CIBC upped their price objective on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a report on Tuesday, September 10th. Wells Fargo & Company dropped their price objective on Rubrik from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Barclays upped their price objective on Rubrik from $42.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Oppenheimer began coverage on Rubrik in a report on Wednesday, November 13th. They set a “market perform” rating on the stock. Finally, Guggenheim upped their price objective on Rubrik from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $46.71.

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.