Pathway Capital Management LP Takes $23.53 Million Position in Rubrik, Inc. (NYSE:RBRK)

Pathway Capital Management LP purchased a new stake in shares of Rubrik, Inc. (NYSE:RBRK) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 731,804 shares of the company’s stock, valued at approximately $23,527,000. Rubrik accounts for 44.4% of Pathway Capital Management LP’s holdings, making the stock its largest position. Pathway Capital Management LP owned 0.41% of Rubrik at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Register Financial Advisors LLC bought a new position in shares of Rubrik in the second quarter worth approximately $227,000. Zweig DiMenna Associates LLC bought a new position in shares of Rubrik in the second quarter worth approximately $6,730,000. EFG Asset Management North America Corp. purchased a new stake in Rubrik in the second quarter worth approximately $925,000. ARK Investment Management LLC purchased a new stake in Rubrik in the second quarter worth approximately $6,043,000. Finally, Cisco Systems Inc. purchased a new stake in Rubrik in the second quarter worth approximately $5,613,000.

Insider Activity

In other news, CRO Brian K. Mccarthy sold 104,672 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was 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 of the company’s stock, valued at $14,486,909.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CRO Brian K. Mccarthy sold 104,672 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $31.32, for a total transaction of $3,278,327.04. Following the transaction, the executive now directly owns 462,545 shares in the company, valued at $14,486,909.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total value of $3,274,000.00. Following the transaction, the insider now owns 56,736 shares in the company, valued at approximately $1,857,536.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 434,512 shares of company stock valued at $14,918,182 in the last ninety days.

Rubrik Stock Performance

NYSE RBRK opened at $44.32 on Tuesday. The business has a 50 day simple moving average of $36.20 and a two-hundred day simple moving average of $34.19. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $45.90.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The business had revenue of $204.95 million during the quarter, compared to analyst estimates of $195.58 million. As a group, equities analysts anticipate that Rubrik, Inc. will post -7.94 EPS for the current year.

Wall Street Analyst Weigh In

RBRK has been the subject of several research reports. CIBC upped their target price on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research note on Tuesday, September 10th. BMO Capital Markets decreased their price objective on Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. Piper Sandler assumed coverage on Rubrik in a report on Monday, August 19th. They issued an “overweight” rating and a $42.00 price objective for the company. Baird R W upgraded Rubrik to a “strong-buy” rating in a report on Monday, July 15th. Finally, FBN Securities assumed coverage on Rubrik in a report on Monday, September 30th. They issued an “outperform” rating and a $40.00 price objective for the company. Sixteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $45.00.

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.