Champlain Investment Partners LLC Sells 768,141 Shares of Rubrik, Inc. (NYSE:RBRK)

Champlain Investment Partners LLC cut its position in Rubrik, Inc. (NYSE:RBRK - Free Report) by 55.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 613,454 shares of the company's stock after selling 768,141 shares during the quarter. Champlain Investment Partners LLC owned about 0.33% of Rubrik worth $40,095,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC bought a new position in shares of Rubrik in the fourth quarter worth $62,000. EAM Global Investors LLC bought a new stake in shares of Rubrik during the 4th quarter worth about $4,743,000. EAM Investors LLC acquired a new stake in shares of Rubrik in the 4th quarter worth approximately $4,567,000. Jump Financial LLC acquired a new position in shares of Rubrik during the fourth quarter valued at approximately $5,677,000. Finally, Walleye Capital LLC raised its holdings in Rubrik by 185.3% during the fourth quarter. Walleye Capital LLC now owns 137,515 shares of the company's stock worth $8,988,000 after purchasing an additional 89,316 shares in the last quarter. 49.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Kiran Kumar Choudary sold 2,000 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $62.03, for a total value of $124,060.00. Following the completion of the sale, the chief financial officer now owns 614,798 shares in the company, valued at approximately $38,135,919.94. This trade represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lightspeed Management Company, sold 13,213 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $62.98, for a total value of $832,154.74. Following the transaction, the insider now owns 21,221 shares in the company, valued at $1,336,498.58. This represents a 38.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 515,619 shares of company stock valued at $34,167,897.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RBRK. Robert W. Baird cut their price target on shares of Rubrik from $83.00 to $76.00 and set an "outperform" rating for the company in a report on Wednesday, March 12th. William Blair began coverage on shares of Rubrik in a report on Friday, February 7th. They set a "market perform" rating for the company. Rosenblatt Securities raised Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 price target on the stock in a report on Wednesday, March 12th. Piper Sandler cut their price objective on Rubrik from $87.00 to $72.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, KeyCorp cut their target price on Rubrik from $82.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $68.83.

Rubrik Stock Performance

Shares of NYSE RBRK traded up $2.20 during mid-day trading on Tuesday, reaching $61.48. 506,598 shares of the company traded hands, compared to its average volume of 2,048,012. The company's fifty day moving average is $64.01 and its two-hundred day moving average is $59.56. 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 $11.67 billion and a PE ratio of -4.46.

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 analysts' consensus estimates of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. The company's revenue was up 47.5% compared to the same quarter last year. During the same period last year, the firm earned ($1.59) EPS. Research analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Rubrik Company 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.