Shikiar Asset Management Inc. Acquires New Holdings in Rubrik, Inc. (NYSE:RBRK)

Shikiar Asset Management Inc. bought a new stake in Rubrik, Inc. (NYSE:RBRK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,100 shares of the company’s stock, valued at approximately $203,000.

Other hedge funds also recently modified their holdings of the company. Commonwealth Equity Services LLC acquired a new stake in shares of Rubrik in the 2nd quarter valued at $503,000. Sei Investments Co. bought a new position in Rubrik during the second quarter valued at about $235,000. Octahedron Capital Management L.P. acquired a new stake in shares of Rubrik in the second quarter worth about $4,936,000. Ensign Peak Advisors Inc bought a new stake in shares of Rubrik during the 2nd quarter worth about $6,287,000. Finally, American International Group Inc. acquired a new position in shares of Rubrik during the 2nd quarter valued at about $1,118,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

Rubrik Stock Down 0.8 %

Shares of RBRK stock opened at $67.68 on Friday. The stock has a fifty day moving average price of $60.17 and a 200 day moving average price of $43.66. Rubrik, Inc. has a one year low of $28.34 and a one year high of $75.79.

Insider Transactions at Rubrik

In other news, Director Yvonne Wassenaar sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the sale, the director now directly owns 153 shares in the company, valued at approximately $10,342.80. This represents a 94.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $66.52, for a total value of $119,736.00. Following the transaction, the chief financial officer now owns 341,374 shares of the company’s stock, valued at $22,708,198.48. This trade represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 626,055 shares of company stock valued at $38,276,205.

Analyst Ratings Changes

RBRK has been the subject of several analyst reports. Wedbush boosted their target price on Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. BMO Capital Markets boosted their price objective on shares of Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Cantor Fitzgerald raised their target price on shares of Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Robert W. Baird boosted their target price on shares of Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Finally, Oppenheimer initiated coverage on Rubrik in a research report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rubrik currently has an average rating of “Buy” and a consensus target price of $64.67.

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.