Price T Rowe Associates Inc. MD Increases Stock Position in Rubrik, Inc. (NYSE:RBRK)

Price T Rowe Associates Inc. MD raised its stake in shares of Rubrik, Inc. (NYSE:RBRK) by 685.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 240,188 shares of the company’s stock after purchasing an additional 209,617 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Rubrik were worth $15,700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quantessence Capital LLC acquired a new stake in Rubrik in the 4th quarter valued at approximately $795,000. Hsbc Holdings PLC purchased a new position in shares of Rubrik during the fourth quarter worth $1,927,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Rubrik in the fourth quarter valued at $131,000. Tower Research Capital LLC TRC raised its holdings in shares of Rubrik by 355.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,026 shares of the company’s stock valued at $198,000 after buying an additional 2,361 shares during the period. Finally, Nan Fung Group Holdings Ltd purchased a new stake in shares of Rubrik in the 4th quarter valued at $1,591,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rubrik

In related news, CTO Arvind Nithrakashyap sold 32,484 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $52.04, for a total transaction of $1,690,467.36. Following the transaction, the chief technology officer now owns 186,795 shares of the company’s stock, valued at $9,720,811.80. This trade represents a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $77.31, for a total value of $193,275.00. Following the completion of the transaction, the director now owns 153 shares in the company, valued at $11,828.43. This trade represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 515,619 shares of company stock worth $34,167,897.

Rubrik Stock Performance

Shares of RBRK stock opened at $71.18 on Friday. The stock’s 50-day moving average is $63.05 and its two-hundred day moving average is $60.99. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $80.00. The firm has a market cap of $13.51 billion and a price-to-earnings ratio of -5.17.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to analysts’ expectations of $233.13 million. During the same quarter in the previous year, the company earned ($1.59) EPS. The firm’s revenue was up 47.5% compared to the same quarter last year. As a group, research analysts predict that Rubrik, Inc. will post -7.66 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on RBRK shares. UBS Group reaffirmed a “buy” rating on shares of Rubrik in a research report on Tuesday. Wells Fargo & Company lifted their price objective on shares of Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Rosenblatt Securities upgraded shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Wednesday, March 12th. Wedbush boosted their price target on shares of Rubrik from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Finally, Robert W. Baird reduced their price objective on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $68.83.

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.