Rubrik (NYSE:RBRK) Posts Quarterly Earnings Results

Rubrik (NYSE:RBRK) issued its quarterly earnings results on Thursday. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.26, FiscalAI reports. The business had revenue of $350.17 million for the quarter, compared to analysts’ expectations of $320.19 million.

Rubrik Stock Down 1.4%

RBRK traded down $0.99 during trading hours on Thursday, hitting $70.42. 6,754,145 shares of the company’s stock were exchanged, compared to its average volume of 3,137,809. The stock has a market cap of $13.91 billion, a price-to-earnings ratio of -30.10 and a beta of 0.32. Rubrik has a 1-year low of $47.35 and a 1-year high of $103.00. The stock’s 50-day moving average is $75.61 and its two-hundred day moving average is $83.73.

Analyst Upgrades and Downgrades

RBRK has been the topic of a number of research reports. Wedbush reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Rubrik in a research note on Thursday, September 11th. Berenberg Bank assumed coverage on shares of Rubrik in a research note on Tuesday, November 18th. They set a “buy” rating and a $114.00 target price for the company. Cantor Fitzgerald decreased their target price on shares of Rubrik from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday. CIBC upped their target price on shares of Rubrik from $125.00 to $130.00 and gave the stock an “outperformer” rating in a report on Thursday, September 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rubrik in a report on Monday. Eighteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $109.06.

Insiders Place Their Bets

In other news, CFO Kiran Kumar Choudary sold 3,500 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $69.46, for a total value of $243,110.00. Following the sale, the chief financial officer directly owned 509,051 shares of the company’s stock, valued at approximately $35,358,682.46. This represents a 0.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian K. Mccarthy sold 10,000 shares of Rubrik stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $75.90, for a total value of $759,000.00. Following the transaction, the insider owned 349,319 shares of the company’s stock, valued at $26,513,312.10. This represents a 2.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 115,966 shares of company stock valued at $8,777,876 in the last three months. 32.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RBRK. Banque Cantonale Vaudoise acquired a new position in Rubrik in the 3rd quarter valued at $34,000. Comerica Bank raised its position in shares of Rubrik by 209.0% in the first quarter. Comerica Bank now owns 584 shares of the company’s stock valued at $36,000 after buying an additional 395 shares in the last quarter. Wilmington Savings Fund Society FSB grew its position in Rubrik by 103.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 666 shares of the company’s stock worth $55,000 after buying an additional 338 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Rubrik by 31.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,250 shares of the company’s stock valued at $76,000 after acquiring an additional 300 shares during the period. Finally, Danske Bank A S bought a new stake in shares of Rubrik during the 3rd quarter valued at $82,000. 49.54% of the stock is owned by institutional investors.

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.