Institutional Venture Management XV LLC Raises Stock Position in Rubrik, Inc. (NYSE:RBRK)

Institutional Venture Management XV LLC boosted its holdings in shares of Rubrik, Inc. (NYSE:RBRK) by 3,620.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,162,610 shares of the company’s stock after acquiring an additional 1,131,360 shares during the quarter. Rubrik accounts for 20.7% of Institutional Venture Management XV LLC’s portfolio, making the stock its 3rd biggest holding. Institutional Venture Management XV LLC’s holdings in Rubrik were worth $37,378,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new position in shares of Rubrik in the 3rd quarter valued at approximately $25,000. KBC Group NV acquired a new position in shares of Rubrik in the 3rd quarter valued at $72,000. Quent Capital LLC acquired a new stake in shares of Rubrik during the 3rd quarter valued at about $192,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of Rubrik in the third quarter valued at approximately $208,000. Finally, Register Financial Advisors LLC purchased a new position in Rubrik during the second quarter valued at $227,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. BMO Capital Markets dropped their target price on Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. Piper Sandler initiated coverage on shares of Rubrik in a report on Monday, August 19th. They issued an “overweight” rating and a $42.00 price objective on the stock. Oppenheimer started coverage on Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating for the company. KeyCorp boosted their price target on Rubrik from $48.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Truist Financial raised their price objective on shares of Rubrik from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $46.71.

Rubrik Price Performance

Shares of Rubrik stock traded up $0.46 during trading hours on Tuesday, hitting $49.89. The company’s stock had a trading volume of 30,090 shares, compared to its average volume of 1,457,456. The business has a fifty day moving average of $40.79 and a 200 day moving average of $35.64. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $52.75.

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

Insider Activity

In other news, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $50.38, for a total value of $1,259,500.00. Following the sale, the executive now directly owns 362,545 shares in the company, valued at approximately $18,265,017.10. The trade was a 6.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 493,112 shares of company stock worth $17,747,746.

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.