Entropy Technologies LP Takes $2.02 Million Position in Rubrik, Inc. (NYSE:RBRK)

Entropy Technologies LP bought a new position in shares of Rubrik, Inc. (NYSE:RBRK) in the 4th quarter, Holdings Channel reports. The fund bought 30,878 shares of the company’s stock, valued at approximately $2,018,000.

Other hedge funds have also added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC grew its position in shares of Rubrik by 3.0% during 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 grew its holdings in Rubrik by 19.1% in the fourth quarter. KBC Group NV now owns 2,679 shares of the company’s stock worth $175,000 after purchasing an additional 430 shares during the period. Brown Brothers Harriman & Co. bought a new stake in Rubrik in the third quarter valued at $25,000. Hamilton Lane Advisors LLC raised its holdings in shares of Rubrik by 3.0% during the fourth quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company’s stock valued at $2,224,000 after purchasing an additional 980 shares during the period. Finally, Geneos Wealth Management Inc. bought a new position in shares of Rubrik during the 4th quarter worth about $70,000. 49.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. 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. Wells Fargo & Company lifted their price target on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Piper Sandler upped their price objective on shares of Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Truist Financial lifted their price objective on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Guggenheim raised their price target on shares of Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $64.67.

Rubrik Stock Performance

NYSE:RBRK opened at $74.52 on Monday. The business has a 50 day moving average of $67.78 and a 200 day moving average of $47.95. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $79.05.

Insiders Place Their Bets

In other Rubrik news, CFO Kiran Kumar Choudary sold 10,000 shares of Rubrik stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $44.48, for a total value of $444,800.00. Following the transaction, the chief financial officer now directly owns 385,360 shares of the company’s stock, valued at $17,140,812.80. The trade was a 2.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Arvind Nithrakashyap sold 32,485 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $74.85, for a total value of $2,431,502.25. Following the sale, the chief technology officer now directly owns 219,279 shares of the company’s stock, valued at approximately $16,413,033.15. This trade represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 656,434 shares of company stock valued at $42,599,751.

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.