Rubrik, Inc. (NYSE:RBRK) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its holdings in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 39.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,441,369 shares of the company's stock after selling 924,892 shares during the period. Alliancebernstein L.P. owned approximately 0.78% of Rubrik worth $94,208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in Rubrik by 134.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,420 shares of the company's stock valued at $10,462,000 after acquiring an additional 186,485 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Rubrik in the third quarter valued at about $265,000. BNP Paribas Financial Markets purchased a new stake in shares of Rubrik during the third quarter worth about $336,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Rubrik during the 3rd quarter worth about $323,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Rubrik by 24.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company's stock valued at $7,998,000 after buying an additional 49,372 shares in the last quarter. Hedge funds and other institutional investors own 49.54% of the company's stock.

Insiders Place Their Bets

In other news, Director John Wendell Thompson sold 9,009 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $60.19, for a total transaction of $542,251.71. Following the sale, the director now owns 998 shares of the company's stock, valued at approximately $60,069.62. This represents a 90.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $77.31, for a total transaction of $193,275.00. Following the completion of the transaction, the director now owns 153 shares of the company's stock, valued at $11,828.43. This trade represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 799,635 shares of company stock worth $53,440,849 over the last ninety days.

Remove Ads

Wall Street Analysts Forecast Growth

Several research firms have commented on RBRK. William Blair started coverage on Rubrik in a research note on Friday, February 7th. They set a "market perform" rating for the company. Rosenblatt Securities upgraded Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 price target for the company in a research report on Wednesday, March 12th. Cantor Fitzgerald restated an "overweight" rating and issued a $85.00 price objective on shares of Rubrik in a report on Friday, March 14th. Guggenheim upped their target price on shares of Rubrik from $76.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Finally, Robert W. Baird decreased their price target on shares of Rubrik from $83.00 to $76.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $70.00.

Rubrik Price Performance

Shares of NYSE:RBRK traded down $5.68 during midday trading on Friday, reaching $51.77. 2,628,555 shares of the company's stock were exchanged, compared to its average volume of 2,015,263. The firm's 50 day simple moving average is $67.92 and its two-hundred day simple moving average is $57.32. Rubrik, Inc. has a fifty-two week low of $28.34 and a fifty-two week high of $80.00. The stock has a market cap of $9.82 billion and a price-to-earnings ratio of -3.76.

Rubrik (NYSE:RBRK - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.22). The business had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. During the same period in the previous year, the company posted ($1.59) EPS. Rubrik's revenue was up 47.5% on a year-over-year basis. Equities research analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

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.