Blueshift Asset Management LLC Buys New Shares in Rubrik, Inc. (NYSE:RBRK)

Blueshift Asset Management LLC bought a new position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,887 shares of the company's stock, valued at approximately $319,000.

Other hedge funds have also added to or reduced their stakes in the company. Magnetar Financial LLC acquired a new stake in shares of Rubrik during the fourth quarter worth $237,000. Natixis Advisors LLC raised its stake in Rubrik by 18.9% in the 4th quarter. Natixis Advisors LLC now owns 63,362 shares of the company's stock worth $4,141,000 after purchasing an additional 10,091 shares in the last quarter. Swiss National Bank boosted its holdings in Rubrik by 24.5% in the 4th quarter. Swiss National Bank now owns 128,400 shares of the company's stock valued at $8,392,000 after purchasing an additional 25,300 shares during the period. Rakuten Securities Inc. acquired a new position in shares of Rubrik during the 4th quarter worth approximately $465,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Rubrik in the fourth quarter valued at approximately $1,495,000. 49.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Rubrik news, CFO Kiran Kumar Choudary sold 1,800 shares of the company's stock in a transaction on Friday, December 27th. The shares were sold at an average price of $68.03, for a total transaction of $122,454.00. Following the sale, the chief financial officer now owns 343,774 shares of the company's stock, valued at approximately $23,386,945.22. This represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,499 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $67.66, for a total value of $2,198,882.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 794,226 shares of company stock valued at $53,310,348.

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Wall Street Analysts Forecast Growth

RBRK has been the topic of a number of recent research reports. BMO Capital Markets raised their price objective on Rubrik from $72.00 to $77.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Piper Sandler boosted their price target on Rubrik from $83.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Cantor Fitzgerald reissued an "overweight" rating and issued a $85.00 target price on shares of Rubrik in a report on Friday, March 14th. Guggenheim boosted their target price on shares of Rubrik from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Rubrik from $76.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $70.00.

Rubrik Trading Down 7.8 %

RBRK traded down $5.82 during trading on Wednesday, reaching $68.46. 4,743,106 shares of the company's stock were exchanged, compared to its average volume of 1,948,149. Rubrik, Inc. has a one year low of $28.34 and a one year high of $80.00. The firm has a fifty day moving average price of $69.18 and a two-hundred day moving average price of $55.65. The stock has a market capitalization of $12.68 billion and a PE ratio of -4.97.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $258.10 million for the quarter, compared to the consensus estimate of $233.13 million. The firm's revenue was up 47.5% compared to the same quarter last year. During the same quarter last year, the company posted ($1.59) earnings per share. Sell-side analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current 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.