Shikiar Asset Management Inc. Takes $203,000 Position in Rubrik, Inc. (NYSE:RBRK)

Shikiar Asset Management Inc. purchased a new position in shares of Rubrik, Inc. (NYSE:RBRK) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 3,100 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds have also recently added to or reduced their stakes in RBRK. Dragoneer Investment Group LLC acquired a new position in shares of Rubrik during the second quarter worth approximately $47,523,000. Champlain Investment Partners LLC bought a new position in Rubrik in the 3rd quarter worth approximately $44,418,000. Point72 Asset Management L.P. acquired a new position in Rubrik during the 3rd quarter worth $42,247,000. PointState Capital LP bought a new position in Rubrik in the 3rd quarter valued at $40,466,000. Finally, Institutional Venture Management XV LLC increased its stake in shares of Rubrik by 3,620.4% in the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after buying an additional 1,131,360 shares during the period. Institutional investors own 49.54% of the company’s stock.

Insider Buying and Selling

In other Rubrik news, CTO Arvind Nithrakashyap sold 227,596 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total value of $14,768,704.44. Following the sale, the chief technology officer now owns 219,279 shares in the company, valued at approximately $14,229,014.31. The trade was a 50.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kiran Kumar Choudary sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $39.40, for a total transaction of $59,100.00. Following the transaction, the chief financial officer now directly owns 423,060 shares of the company’s stock, valued at $16,668,564. This represents a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 626,055 shares of company stock worth $38,276,205 over the last ninety days.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial lifted their price objective on Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Wedbush boosted their price target on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. BMO Capital Markets increased their price objective on shares of Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Wells Fargo & Company lifted their target price on shares of Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Oppenheimer assumed coverage on Rubrik in a research note on Wednesday, November 13th. They issued a “market perform” rating on the stock. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Rubrik has an average rating of “Buy” and a consensus price target of $64.67.

Rubrik Stock Performance

Shares of RBRK stock opened at $67.68 on Friday. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $75.79. The company’s 50 day moving average price is $60.17 and its two-hundred day moving average price is $43.66.

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.