19,428 Shares in Rubrik, Inc. (NYSE:RBRK) Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC bought a new stake in Rubrik, Inc. (NYSE:RBRK) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,428 shares of the company’s stock, valued at approximately $625,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. KBC Group NV purchased a new stake in shares of Rubrik during the 3rd quarter valued at approximately $72,000. Quent Capital LLC purchased a new stake in Rubrik in the third quarter valued at $192,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Rubrik in the 3rd quarter valued at $208,000. Register Financial Advisors LLC purchased a new position in shares of Rubrik during the 2nd quarter worth $227,000. Finally, Whalen Wealth Management Inc. acquired a new stake in shares of Rubrik during the 3rd quarter worth about $243,000.

Insider Transactions at Rubrik

In related news, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kiran Kumar Choudary sold 1,500 shares of Rubrik stock in a transaction 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 sale, the chief financial officer now owns 423,060 shares in the company, 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. In the last 90 days, insiders have sold 491,312 shares of company stock valued at $17,657,062.

Rubrik Price Performance

Shares of NYSE:RBRK opened at $50.39 on Tuesday. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $52.75. The company’s 50 day moving average is $39.06 and its two-hundred day moving average is $35.07.

Rubrik (NYSE:RBRK) last posted its earnings results on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The company had revenue of $204.95 million during the quarter, compared to analysts’ expectations of $195.58 million. As a group, research analysts forecast that Rubrik, Inc. will post -8.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Robert W. Baird upped their target price on shares of Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. CIBC increased their price objective on shares of Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research report on Tuesday, September 10th. Piper Sandler initiated coverage on Rubrik in a research report on Monday, August 19th. They issued an “overweight” rating and a $42.00 target price on the stock. Truist Financial raised their price target on Rubrik from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, Cantor Fitzgerald raised Rubrik to a “strong-buy” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $46.71.

Rubrik 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.