ARK Investment Management LLC Sells 5,108 Shares of Rubrik, Inc. (NYSE:RBRK)

ARK Investment Management LLC trimmed its position in Rubrik, Inc. (NYSE:RBRK) by 1.2% in the 4th quarter, Holdings Channel reports. The firm owned 415,824 shares of the company’s stock after selling 5,108 shares during the quarter. ARK Investment Management LLC’s holdings in Rubrik were worth $27,178,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Legacy Capital Group California Inc. boosted its holdings in Rubrik by 140.7% in the 4th quarter. Legacy Capital Group California Inc. now owns 181,117 shares of the company’s stock valued at $11,838,000 after purchasing an additional 105,877 shares during the period. Financial Perspectives Inc bought a new position in Rubrik in the 4th quarter valued at $732,000. Global Retirement Partners LLC boosted its holdings in Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares during the period. State of New Jersey Common Pension Fund D bought a new position in Rubrik in the 4th quarter valued at $3,103,000. Finally, Rhumbline Advisers bought a new position in Rubrik in the 4th quarter valued at $64,000. 49.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RBRK shares. William Blair started coverage on shares of Rubrik in a report on Friday, February 7th. They set a “market perform” rating for the company. Guggenheim lifted their price objective on shares of Rubrik from $52.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Rosenblatt Securities started coverage on shares of Rubrik in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective for the company. Cantor Fitzgerald lifted their price objective on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Mizuho lifted their price objective on shares of Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.33.

Rubrik Stock Performance

RBRK stock opened at $63.99 on Wednesday. The firm’s 50-day moving average price is $70.02 and its two-hundred day moving average price is $51.39. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month high of $80.00.

Insider Buying and Selling at Rubrik

In other news, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $51.51, for a total transaction of $92,718.00. Following the sale, the chief financial officer now owns 372,960 shares of the company’s stock, valued at approximately $19,211,169.60. The trade was a 0.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total transaction of $169,000.00. Following the sale, the director now directly owns 153 shares in the company, valued at $10,342.80. The trade was a 94.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 610,334 shares of company stock worth $40,413,942.

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.