BIT Capital GmbH Reduces Stock Position in Rubrik, Inc. (NYSE:RBRK)

BIT Capital GmbH reduced its holdings in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 96.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,248 shares of the company's stock after selling 484,458 shares during the period. BIT Capital GmbH's holdings in Rubrik were worth $997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of RBRK. Vanguard Group Inc. grew its stake in shares of Rubrik by 114.1% during the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock valued at $413,610,000 after acquiring an additional 3,372,323 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Rubrik by 27.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company's stock worth $129,359,000 after purchasing an additional 427,149 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Rubrik during the 3rd quarter valued at $42,247,000. PointState Capital LP purchased a new stake in Rubrik in the 3rd quarter worth $40,466,000. Finally, Institutional Venture Management XV LLC lifted its position in shares of Rubrik by 3,620.4% in the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company's stock valued at $37,378,000 after acquiring an additional 1,131,360 shares in the last quarter. Hedge funds and other institutional investors own 49.54% of the company's stock.

Rubrik Stock Performance

Shares of RBRK stock traded down $3.14 during trading hours on Monday, reaching $60.52. The company had a trading volume of 1,494,470 shares, compared to its average volume of 1,996,277. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month high of $80.00. The company has a market capitalization of $11.21 billion and a price-to-earnings ratio of -4.34. The stock has a fifty day moving average of $69.09 and a 200-day moving average of $56.36.

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Rubrik (NYSE:RBRK - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The business had revenue of $258.10 million for the quarter, compared to the consensus estimate of $233.13 million. Rubrik's revenue was up 47.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.59) EPS. On average, analysts forecast that Rubrik, Inc. will post -7.66 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kiran Kumar Choudary sold 1,800 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $65.72, for a total transaction of $118,296.00. Following the completion of the transaction, the chief financial officer now directly owns 342,974 shares in the company, valued at $22,540,251.28. This trade represents a 0.52 % decrease in their position. The sale was disclosed in a legal 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 Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total transaction of $169,000.00. Following the sale, the director now owns 153 shares in the company, valued at $10,342.80. This trade represents a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 792,426 shares of company stock valued at $53,187,894.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays lifted their target price on Rubrik from $51.00 to $70.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Wedbush lifted their price target on shares of Rubrik from $75.00 to $80.00 and gave the company an "outperform" rating in a report on Friday, March 14th. Mizuho boosted their target price on Rubrik from $75.00 to $82.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 17th. KeyCorp cut their price target on Rubrik from $87.00 to $82.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Finally, Piper Sandler upped their price target on shares of Rubrik from $83.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $70.00.

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.