PointState Capital LP Invests $40.47 Million in Rubrik, Inc. (NYSE:RBRK)

by · The Markets Daily

PointState Capital LP purchased a new position in Rubrik, Inc. (NYSE:RBRK – Free Report) in the third quarter, HoldingsChannel reports. The firm purchased 1,258,656 shares of the company’s stock, valued at approximately $40,466,000. Rubrik comprises 0.7% of PointState Capital LP’s investment portfolio, making the stock its 24th biggest position.

A number of other institutional investors also recently made changes to their positions in the stock. Brown Brothers Harriman & Co. acquired a new stake in Rubrik during the third quarter valued at approximately $25,000. KBC Group NV acquired a new stake in Rubrik during the third quarter valued at approximately $72,000. Quent Capital LLC acquired a new stake in Rubrik during the third quarter valued at approximately $192,000. Mount Yale Investment Advisors LLC acquired a new stake in Rubrik during the third quarter valued at approximately $208,000. Finally, Register Financial Advisors LLC acquired a new stake in Rubrik during the second quarter valued at approximately $227,000.

Insider Buying and Selling

In other Rubrik news, major shareholder Barry Eggers sold 100,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the sale, the insider now directly owns 56,736 shares of the company’s stock, valued at $1,857,536.64. This represents a 63.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Brian K. Mccarthy sold 104,672 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total transaction of $3,278,327.04. Following the completion of the sale, the executive now directly owns 462,545 shares of the company’s stock, valued at approximately $14,486,909.40. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 493,112 shares of company stock valued at $17,747,746.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RBRK shares. Barclays increased their target price on shares of Rubrik from $42.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Citigroup boosted their price target on shares of Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Robert W. Baird boosted their price target on shares of Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. KeyCorp boosted their price target on shares of Rubrik from $48.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, FBN Securities started coverage on shares of Rubrik in a report on Monday, September 30th. They set an “outperform” rating and a $40.00 price target on the stock. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $46.71.

Get Our Latest Stock Analysis on RBRK

Rubrik Stock Performance

Shares of RBRK opened at $50.91 on Wednesday. The company’s fifty day moving average is $41.14 and its 200-day moving average is $35.74. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $52.75.

Rubrik (NYSE:RBRK – Get Free Report) last posted its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share (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 analyst estimates of $195.58 million. Analysts expect that Rubrik, Inc. will post -8.04 EPS for the current year.

Rubrik Company Profile

(Free Report)

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.

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