Summit Partners Public Asset Management LLC Purchases Shares of 1,031,028 Rubrik, Inc. (NYSE:RBRK)

Summit Partners Public Asset Management LLC purchased a new stake in Rubrik, Inc. (NYSE:RBRK) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,031,028 shares of the company’s stock, valued at approximately $33,148,000. Rubrik makes up 1.0% of Summit Partners Public Asset Management LLC’s holdings, making the stock its 22nd largest holding. Summit Partners Public Asset Management LLC owned 0.57% of Rubrik at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of RBRK. Brown Brothers Harriman & Co. acquired a new stake in Rubrik in the third quarter worth about $25,000. KBC Group NV purchased a new stake in Rubrik during the 3rd quarter worth approximately $72,000. Quent Capital LLC acquired a new position in Rubrik during the 3rd quarter valued at approximately $192,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Rubrik in the third quarter worth $208,000. Finally, Register Financial Advisors LLC acquired a new stake in shares of Rubrik during the second quarter worth $227,000.

Rubrik Trading Down 0.7 %

Shares of RBRK stock opened at $49.66 on Friday. 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 $39.78 and its two-hundred day moving average is $35.29.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. FBN Securities began 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. Robert W. Baird lifted their target price on Rubrik from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Piper Sandler started coverage on shares of Rubrik in a report on Monday, August 19th. They issued an “overweight” rating and a $42.00 price target on the stock. Wells Fargo & Company decreased their price objective on shares of Rubrik from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. Finally, 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 note on Tuesday, September 10th. One investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $46.71.

Insider Buying and Selling at Rubrik

In related 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 can be accessed through this link. Also, major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the sale, the insider now directly owns 56,736 shares in the company, valued at approximately $1,857,536.64. This trade represents a 63.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 493,112 shares of company stock valued at $17,747,746 over the last ninety days.

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.