Summit Trail Advisors LLC Takes $625,000 Position in Rubrik, Inc. (NYSE:RBRK)

Summit Trail Advisors LLC acquired a new position in shares of Rubrik, Inc. (NYSE:RBRK) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 19,428 shares of the company’s stock, valued at approximately $625,000.

Several other large investors have also recently modified their holdings of RBRK. KBC Group NV purchased a new position in Rubrik in the third quarter worth $72,000. Quent Capital LLC purchased a new position in Rubrik during the 3rd quarter worth $192,000. Mount Yale Investment Advisors LLC acquired a new position in Rubrik during the 3rd quarter valued at about $208,000. Register Financial Advisors LLC purchased a new stake in Rubrik in the second quarter valued at about $227,000. Finally, Whalen Wealth Management Inc. acquired a new stake in Rubrik in the third quarter worth about $243,000.

Insider Buying and Selling

In other news, CFO Kiran Kumar Choudary sold 1,500 shares of the company’s stock in a transaction on Monday, October 28th. The shares were 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 of the company’s stock, valued at $16,668,564. This represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $50.38, for a total transaction of $1,259,500.00. Following the completion of the sale, the executive now owns 362,545 shares of the company’s stock, valued at $18,265,017.10. This trade represents a 6.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,312 shares of company stock worth $17,657,062 in the last 90 days.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RBRK shares. Wedbush upped their price objective on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Guggenheim raised their price target on shares of Rubrik from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Robert W. Baird upped their target price on Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. FBN Securities initiated 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, Cantor Fitzgerald upgraded Rubrik to a “strong-buy” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $46.71.

Rubrik Trading Down 1.3 %

Shares of RBRK stock opened at $50.39 on Tuesday. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month high of $52.75. The business’s 50 day moving average is $39.06 and its two-hundred day moving average is $35.07.

Rubrik (NYSE:RBRK) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $195.58 million. On average, equities analysts predict that Rubrik, Inc. will post -8.04 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.