Renaissance Capital LLC Has $4.76 Million Stock Holdings in Rubrik, Inc. (NYSE:RBRK)

Renaissance Capital LLC increased its stake in shares of Rubrik, Inc. (NYSE:RBRK) by 21.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,775 shares of the company’s stock after buying an additional 12,714 shares during the period. Rubrik accounts for approximately 3.1% of Renaissance Capital LLC’s holdings, making the stock its 15th biggest holding. Renaissance Capital LLC’s holdings in Rubrik were worth $4,757,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. bought a new position in shares of Rubrik in the third quarter worth about $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Rubrik in the fourth quarter valued at approximately $70,000. KBC Group NV bought a new position in Rubrik in the 3rd quarter worth approximately $72,000. Shikiar Asset Management Inc. bought a new position in Rubrik in the 4th quarter worth approximately $203,000. Finally, PFG Investments LLC acquired a new position in Rubrik during the 4th quarter worth $239,000. Institutional investors own 49.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RBRK shares. Piper Sandler boosted their target price on Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Truist Financial boosted their price objective on Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Cantor Fitzgerald lifted their price target on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. KeyCorp boosted their price target on shares of Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets raised their price objective on shares of Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $64.67.

Insider Buying and Selling

In related news, Director Yvonne Wassenaar sold 2,500 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total transaction of $169,000.00. Following the sale, the director now directly owns 153 shares in the company, valued at $10,342.80. This trade represents a 94.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $66.52, for a total transaction of $119,736.00. Following the completion of the transaction, the chief financial officer now directly owns 341,374 shares of the company’s stock, valued at approximately $22,708,198.48. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 569,255 shares of company stock valued at $35,981,878.

Rubrik Stock Down 3.4 %

NYSE RBRK opened at $70.76 on Tuesday. Rubrik, Inc. has a one year low of $28.34 and a one year high of $77.22. The stock’s 50-day moving average is $65.79 and its 200-day moving average is $46.83.

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.