FirstWave Capital Management LLC Purchases Shares of 33,807 Rubrik, Inc. $RBRK

FirstWave Capital Management LLC acquired a new position in Rubrik, Inc. (NYSE:RBRK) during the second quarter, HoldingsChannel reports. The institutional investor acquired 33,807 shares of the company’s stock, valued at approximately $2,714,000. Rubrik makes up about 1.2% of FirstWave Capital Management LLC’s holdings, making the stock its 25th biggest position.

Several other hedge funds have also recently made changes to their positions in RBRK. Atlantic Union Bankshares Corp raised its holdings in shares of Rubrik by 100.0% during the fourth quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company’s stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in Rubrik in the third quarter worth $34,000. Triumph Capital Management bought a new stake in Rubrik in the fourth quarter valued at $33,000. Los Angeles Capital Management LLC bought a new stake in Rubrik in the fourth quarter valued at $35,000. Finally, Advocate Investing Services LLC purchased a new position in Rubrik during the 4th quarter valued at $38,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

Rubrik Stock Performance

Shares of NYSE RBRK opened at $93.85 on Friday. Rubrik, Inc. has a fifty-two week low of $42.25 and a fifty-two week high of $107.91. The company has a 50 day simple moving average of $86.79 and a two-hundred day simple moving average of $68.70. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of -74.48 and a beta of 1.24.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.16. The company had revenue of $427.26 million during the quarter, compared to the consensus estimate of $396.30 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. The business’s revenue for the quarter was up 43.9% compared to the same quarter last year. Rubrik has set its FY 2027 guidance at 0.470-0.530 EPS and its Q3 2027 guidance at 0.070-0.090 EPS. On average, analysts forecast that Rubrik, Inc. will post -1.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RBRK. Guggenheim upped their price objective on shares of Rubrik from $110.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, August 24th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Rubrik in a research note on Wednesday, August 19th. UBS Group reiterated a “buy” rating and set a $106.00 price target on shares of Rubrik in a research report on Wednesday, August 19th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Rubrik in a research note on Monday. Finally, Loop Capital started coverage on shares of Rubrik in a report on Monday, August 3rd. They issued a “buy” rating and a $100.00 price objective for the company. Twenty-nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.15.

Insider Buying and Selling

In other Rubrik news, Director Ravi Mhatre sold 3,979 shares of the business’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $83.10, for a total value of $330,654.90. Following the sale, the director directly owned 125,351 shares of the company’s stock, valued at approximately $10,416,668.10. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kiran Choudary sold 10,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $98.32, for a total value of $983,200.00. Following the completion of the sale, the chief financial officer directly owned 978,073 shares in the company, valued at approximately $96,164,137.36. This represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 112,577 shares of company stock worth $9,376,785 over the last three months. 13.66% of the stock is owned by corporate insiders.

Rubrik Company Profile

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company’s platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).