Penn Mutual Asset Management Invests $1.04 Million in Rubrik, Inc. (NYSE:RBRK)

Penn Mutual Asset Management acquired a new stake in Rubrik, Inc. (NYSE:RBRK) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 32,231 shares of the company’s stock, valued at approximately $1,036,000. Rubrik comprises approximately 2.1% of Penn Mutual Asset Management’s investment portfolio, making the stock its 10th biggest holding.

A number of other institutional investors also recently modified their holdings of RBRK. Dragoneer Investment Group LLC bought a new position in Rubrik in the second quarter valued at approximately $47,523,000. Champlain Investment Partners LLC acquired a new position in shares of Rubrik in the third quarter valued at $44,418,000. Institutional Venture Management XV LLC raised its holdings in Rubrik by 3,620.4% in the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after acquiring an additional 1,131,360 shares during the period. Penserra Capital Management LLC acquired a new position in Rubrik in the 3rd quarter valued at $35,359,000. Finally, Clearbridge Investments LLC acquired a new stake in shares of Rubrik in the second quarter valued at approximately $32,888,000.

Insider Transactions at Rubrik

In other Rubrik news, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CRO Brian K. Mccarthy sold 104,672 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total value of $3,278,327.04. Following the completion of the sale, the executive now directly owns 462,545 shares in the company, valued at approximately $14,486,909.40. The trade was a 18.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 493,112 shares of company stock worth $17,747,746.

Rubrik Price Performance

Shares of NYSE:RBRK opened at $50.91 on Wednesday. The firm has a fifty day simple moving average of $41.14 and a two-hundred day simple moving average of $35.74. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $52.75.

Rubrik (NYSE:RBRK) last announced 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 during the quarter, compared to the consensus estimate of $195.58 million. On average, equities research analysts predict that Rubrik, Inc. will post -8.04 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on RBRK. Citigroup upped their price objective on Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Wells Fargo & Company lowered their price target on shares of Rubrik from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Wedbush boosted their price target on Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Oppenheimer began coverage on shares of Rubrik in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. Finally, Robert W. Baird lifted their price target on shares of Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $46.71.

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.