Penserra Capital Management LLC Makes New $35.36 Million Investment in Rubrik, Inc. (NYSE:RBRK)

Penserra Capital Management LLC bought a new position in Rubrik, Inc. (NYSE:RBRK) in the third quarter, HoldingsChannel reports. The fund bought 1,099,835 shares of the company’s stock, valued at approximately $35,359,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Diversified Trust Co acquired a new position in Rubrik in the 3rd quarter worth about $432,000. Davidson Kempner Capital Management LP acquired a new position in Rubrik in the 2nd quarter worth about $2,606,000. Bank of Montreal Can acquired a new position in Rubrik in the 2nd quarter worth about $427,000. ARK Investment Management LLC acquired a new position in Rubrik in the 2nd quarter worth about $6,043,000. Finally, EPIQ Capital Group LLC acquired a new position in Rubrik in the 2nd quarter worth about $15,111,000.

Insiders Place Their Bets

In other Rubrik news, major shareholder Barry Eggers sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total value of $3,274,000.00. Following the transaction, the insider now owns 56,736 shares in the company, valued at approximately $1,857,536.64. This represents a 63.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ravi Mhatre sold 15,933 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,312 shares of company stock worth $17,657,062.

Rubrik Stock Up 3.9 %

NYSE RBRK opened at $51.05 on Friday. The business has a 50 day simple moving average of $38.68 and a 200 day simple moving average of $34.94. Rubrik, Inc. has a one year low of $28.34 and a one year high of $51.58.

Rubrik (NYSE:RBRK) last announced its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The business had revenue of $204.95 million during the quarter, compared to analyst estimates of $195.58 million. On average, equities analysts predict that Rubrik, Inc. will post -8.04 EPS for the current year.

Analyst Ratings Changes

RBRK has been the subject of a number of recent research reports. Oppenheimer initiated coverage on Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating for the company. Cantor Fitzgerald raised Rubrik to a “strong-buy” rating in a research note on Wednesday. Barclays increased their price target on Rubrik from $42.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday. Wedbush increased their price target on Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Piper Sandler initiated coverage on Rubrik in a research note on Monday, August 19th. They issued an “overweight” rating and a $42.00 price target for the company. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $46.71.

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.