Federated Hermes Inc. Acquires 367,491 Shares of Rubrik, Inc. (NYSE:RBRK)

Federated Hermes Inc. grew its holdings in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 32.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,516,991 shares of the company's stock after purchasing an additional 367,491 shares during the period. Federated Hermes Inc. owned about 0.82% of Rubrik worth $99,151,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RBRK. Russell Investments Group Ltd. purchased a new stake in shares of Rubrik during the fourth quarter worth approximately $28,000. Global Retirement Partners LLC raised its holdings in shares of Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. Nemes Rush Group LLC purchased a new stake in shares of Rubrik during the 4th quarter worth $39,000. Rhumbline Advisers acquired a new position in shares of Rubrik during the fourth quarter worth $64,000. Finally, Geneos Wealth Management Inc. purchased a new position in Rubrik in the fourth quarter valued at $70,000. Institutional investors and hedge funds own 49.54% of the company's stock.

Insider Buying and Selling

In related news, CFO Kiran Kumar Choudary sold 1,800 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $66.52, for a total transaction of $119,736.00. Following the transaction, the chief financial officer now directly owns 341,374 shares of the company's stock, valued at $22,708,198.48. This represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 2,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the transaction, the director now owns 153 shares in the company, valued at approximately $10,342.80. This 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 732,302 shares of company stock valued at $48,269,123.

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Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Robert W. Baird dropped 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. Citigroup boosted their target price on Rubrik from $75.00 to $85.00 and gave the company a "buy" rating in a report on Friday, January 17th. Piper Sandler dropped their target price on Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a research report on Tuesday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $85.00 price objective on shares of Rubrik in a report on Friday, March 14th. Finally, Rosenblatt Securities raised shares of Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 price objective for the company in a research note on Wednesday, March 12th. 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 MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $69.17.

Rubrik Price Performance

Shares of NYSE RBRK traded down $2.96 during mid-day trading on Thursday, hitting $58.73. The company's stock had a trading volume of 1,244,892 shares, compared to its average volume of 2,402,066. The company's fifty day simple moving average is $66.26 and its 200-day simple moving average is $57.79. The stock has a market cap of $11.15 billion and a price-to-earnings ratio of -4.26. Rubrik, Inc. has a one year low of $28.34 and a one year high of $80.00.

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