Garden State Investment Advisory Services LLC Purchases Shares of 12,249 Rubrik, Inc. (NYSE:RBRK)

Garden State Investment Advisory Services LLC acquired a new stake in Rubrik, Inc. (NYSE:RBRK) in the 3rd quarter, Holdings Channel reports. The firm acquired 12,249 shares of the company’s stock, valued at approximately $394,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Brothers Harriman & Co. bought a new stake in shares of Rubrik in the 3rd quarter valued at approximately $25,000. KBC Group NV acquired a new stake in Rubrik in the 3rd quarter valued at $72,000. Quent Capital LLC bought a new stake in Rubrik in the third quarter valued at $192,000. Mount Yale Investment Advisors LLC bought a new stake in Rubrik in the third quarter valued at $208,000. Finally, Barclays PLC raised its stake in Rubrik by 140.6% during the third quarter. Barclays PLC now owns 12,029 shares of the company’s stock worth $386,000 after acquiring an additional 7,029 shares in the last quarter. Institutional investors and hedge funds own 49.54% of the company’s stock.

Insider Transactions at Rubrik

In other news, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 56,736 shares in the company, valued at approximately $1,857,536.64. The trade was a 63.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kiran Kumar Choudary sold 51,924 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.41, for a total value of $1,630,932.84. Following the completion of the sale, the chief financial officer now directly owns 493,360 shares of the company’s stock, valued at approximately $15,496,437.60. This trade represents a 9.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 560,779 shares of company stock worth $22,317,557 in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. KeyCorp boosted their target price on shares of Rubrik from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Citigroup boosted their price target on shares of Rubrik from $48.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Truist Financial raised their price objective on shares of Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 6th. BMO Capital Markets boosted their target price on Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company increased their price target on Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $61.88.

Rubrik Price Performance

Shares of NYSE:RBRK opened at $72.12 on Friday. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $74.99. The business has a 50-day moving average price of $46.55 and a two-hundred day moving average price of $37.47.

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.