Magnetar Financial LLC Makes New $237,000 Investment in Rubrik, Inc. (NYSE:RBRK)

Magnetar Financial LLC purchased a new stake in shares of Rubrik, Inc. (NYSE:RBRK) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 3,620 shares of the company’s stock, valued at approximately $237,000.

Several other institutional investors have also recently made changes to their positions in RBRK. Global Retirement Partners LLC boosted its stake in Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after buying an additional 500 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in shares of Rubrik in the 3rd quarter valued at about $25,000. Rhumbline Advisers bought a new stake in shares of Rubrik during the 4th quarter valued at about $64,000. Geneos Wealth Management Inc. purchased a new position in shares of Rubrik during the fourth quarter worth about $70,000. Finally, KBC Group NV increased its position in shares of 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 last quarter. Institutional investors own 49.54% of the company’s stock.

Insiders Place Their Bets

In other Rubrik news, CTO Arvind Nithrakashyap sold 227,596 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $64.89, for a total value of $14,768,704.44. Following the completion of the transaction, the chief technology officer now directly owns 219,279 shares in the company, valued at approximately $14,229,014.31. This represents a 50.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $68.03, for a total transaction of $122,454.00. Following the sale, the chief financial officer now directly owns 343,774 shares in the company, valued at $23,386,945.22. The trade was a 0.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 621,254 shares of company stock worth $41,195,389.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RBRK shares. Barclays lifted their target price on shares of Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Rosenblatt Securities raised shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price objective for the company in a report on Wednesday, March 12th. BMO Capital Markets increased their target price on Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Guggenheim raised their price target on Rubrik from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Finally, Wells Fargo & Company upped their price objective on Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Rubrik has an average rating of “Buy” and a consensus price target of $70.00.

Rubrik Stock Down 2.9 %

NYSE:RBRK opened at $68.15 on Monday. The firm has a market capitalization of $12.62 billion and a P/E ratio of -4.95. The company has a fifty day moving average of $68.82 and a 200 day moving average of $55.05. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $80.00.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $233.13 million. The company’s revenue was up 47.5% on a year-over-year basis. During the same period last year, the business posted ($1.59) earnings per share. As a group, analysts anticipate that Rubrik, Inc. will post -7.66 EPS for the current year.

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.