197,082 Shares in Rubrik, Inc. (NYSE:RBRK) Acquired by ARK Investment Management LLC

ARK Investment Management LLC bought a new position in shares of Rubrik, Inc. (NYSE:RBRK) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 197,082 shares of the company’s stock, valued at approximately $6,043,000. ARK Investment Management LLC owned 0.11% of Rubrik as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zweig DiMenna Associates LLC acquired a new position in shares of Rubrik during the 2nd quarter worth about $6,730,000. EFG Asset Management North America Corp. acquired a new position in shares of Rubrik during the second quarter worth approximately $925,000. Finally, Register Financial Advisors LLC acquired a new position in shares of Rubrik during the second quarter worth approximately $227,000.

Rubrik Trading Down 1.0 %

Rubrik stock traded down $0.37 during trading hours on Tuesday, hitting $35.22. 220,632 shares of the stock were exchanged, compared to its average volume of 1,091,003. The stock has a 50-day moving average of $32.82. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $40.00.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Tuesday, June 11th. The company reported ($11.47) EPS for the quarter, missing analysts’ consensus estimates of ($10.88) by ($0.59). The company had revenue of $187.32 million during the quarter, compared to analyst estimates of $171.60 million. As a group, equities research analysts predict that Rubrik, Inc. will post -7.68 EPS for the current year.

Analysts Set New Price Targets

RBRK has been the topic of a number of research reports. Guggenheim reaffirmed a “buy” rating and set a $48.00 target price on shares of Rubrik in a research report on Tuesday, June 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 target price on shares of Rubrik in a research note on Monday, August 19th. Mizuho started coverage on Rubrik in a research note on Monday, May 20th. They set a “buy” rating and a $46.00 price target on the stock. BMO Capital Markets upgraded Rubrik from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Thursday, June 6th. Finally, Capital One Financial began coverage on Rubrik in a report on Monday, May 20th. They set an “overweight” rating and a $42.00 price objective on the stock. Fifteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $45.13.

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.