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 bought a new stake in shares of Rubrik, Inc. (NYSE:RBRK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 47,482 shares of the company’s stock, valued at approximately $3,103,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brown Brothers Harriman & Co. bought a new stake in shares of Rubrik during the 3rd quarter valued at $25,000. Rhumbline Advisers purchased a new position in Rubrik during the fourth quarter valued at $64,000. Geneos Wealth Management Inc. purchased a new position in Rubrik during the fourth quarter valued at $70,000. KBC Group NV bought a new stake in Rubrik during the third quarter valued at about $72,000. Finally, Shikiar Asset Management Inc. purchased a new stake in Rubrik in the fourth quarter worth about $203,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RBRK has been the subject of a number of recent research reports. Truist Financial boosted their price objective on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Cantor Fitzgerald upped their price target on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Citigroup raised their price objective on shares of Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Guggenheim upped their target price on shares of Rubrik from $52.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Robert W. Baird raised their price target on Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.33.

Rubrik Stock Performance

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

Insiders Place Their Bets

In related news, Director Yvonne Wassenaar sold 2,500 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total transaction of $193,275.00. Following the sale, the director now owns 153 shares in the company, valued at approximately $11,828.43. This represents a 94.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kiran Kumar Choudary sold 10,000 shares of Rubrik stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $50.31, for a total transaction of $503,100.00. Following the transaction, the chief financial officer now directly owns 374,560 shares of the company’s stock, valued at $18,844,113.60. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 647,134 shares of company stock valued at $42,267,226 in the last three months.

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.