Diversify Wealth Management LLC Invests $1.81 Million in Rubrik, Inc. (NYSE:RBRK)

Diversify Wealth Management LLC purchased a new stake in Rubrik, Inc. (NYSE:RBRK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 56,250 shares of the company’s stock, valued at approximately $1,808,000.

A number of other institutional investors also recently modified their holdings of the business. Register Financial Advisors LLC purchased a new stake in Rubrik during the 2nd quarter worth about $227,000. Zweig DiMenna Associates LLC bought a new stake in shares of Rubrik during the second quarter valued at about $6,730,000. EFG Asset Management North America Corp. purchased a new stake in shares of Rubrik in the second quarter worth about $925,000. ARK Investment Management LLC bought a new stake in Rubrik in the 2nd quarter worth approximately $6,043,000. Finally, Cisco Systems Inc. purchased a new stake in Rubrik in the second quarter worth approximately $5,613,000.

Analyst Upgrades and Downgrades

RBRK has been the topic of several research reports. Citigroup lifted their price target on shares of Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Robert W. Baird initiated coverage on shares of Rubrik in a research report on Monday, July 15th. They set an “outperform” rating and a $42.00 price target for the company. Piper Sandler initiated coverage on Rubrik in a research note on Monday, August 19th. They set an “overweight” rating and a $42.00 price objective on the stock. FBN Securities started coverage on Rubrik in a research note on Monday, September 30th. They issued an “outperform” rating and a $40.00 target price for the company. Finally, Wedbush raised their price target on Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Sixteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $44.65.

Insider Activity at Rubrik

In other Rubrik news, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction on Friday, September 13th. The stock was 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kiran Kumar Choudary sold 1,500 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $39.40, for a total transaction of $59,100.00. Following the completion of the sale, the chief financial officer now owns 423,060 shares in the company, valued at approximately $16,668,564. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 391,412 shares of company stock worth $13,162,625 over the last ninety days.

Rubrik Price Performance

NYSE:RBRK opened at $42.59 on Thursday. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $43.95. The stock has a 50-day moving average of $34.95.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The business had revenue of $204.95 million for the quarter, compared to analyst estimates of $195.58 million. As a group, research analysts forecast that Rubrik, Inc. will post -7.94 earnings per share 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.