State of New Jersey Common Pension Fund D Invests $3.10 Million in Rubrik, Inc. (NYSE:RBRK)

State of New Jersey Common Pension Fund D purchased a new stake in shares of Rubrik, Inc. (NYSE:RBRK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 47,482 shares of the company’s stock, valued at approximately $3,103,000.

Other institutional investors have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. bought a new position in shares of Rubrik during the third quarter valued at about $25,000. Rhumbline Advisers bought a new position in Rubrik during the 4th quarter valued at approximately $64,000. Geneos Wealth Management Inc. purchased a new stake in Rubrik in the 4th quarter worth approximately $70,000. KBC Group NV bought a new stake in shares of Rubrik in the 3rd quarter worth approximately $72,000. Finally, Shikiar Asset Management Inc. purchased a new position in shares of Rubrik during the fourth quarter valued at approximately $203,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Rosenblatt Securities assumed coverage on shares of Rubrik in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. Cantor Fitzgerald lifted their target price on shares of Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. BMO Capital Markets increased their price target on shares of Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Wells Fargo & Company lifted their price objective on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, KeyCorp upped their target price on Rubrik from $75.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $65.33.

Insider Activity at Rubrik

In other Rubrik news, Director Yvonne Wassenaar sold 2,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total transaction of $169,000.00. Following the transaction, the director now owns 153 shares in the company, valued at approximately $10,342.80. This represents a 94.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kiran Kumar Choudary sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $50.31, for a total transaction of $503,100.00. Following the sale, the chief financial officer now directly owns 374,560 shares in the company, valued at approximately $18,844,113.60. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 647,134 shares of company stock valued at $42,267,226.

Rubrik Trading Down 4.9 %

Shares of NYSE RBRK opened at $74.27 on Thursday. The firm’s 50 day moving average price is $70.45 and its 200-day moving average price is $50.21. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $80.00.

About Rubrik

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.