KLP Kapitalforvaltning AS Takes $863,000 Position in Rubrik, Inc. (NYSE:RBRK)

KLP Kapitalforvaltning AS bought a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,200 shares of the company's stock, valued at approximately $863,000.

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

Insider Buying and Selling

In related news, Director Yvonne Wassenaar sold 2,500 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total value of $169,000.00. Following the sale, the director now owns 153 shares of the company's stock, valued at $10,342.80. The trade was a 94.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Wendell Thompson sold 9,009 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $60.19, for a total transaction of $542,251.71. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 799,635 shares of company stock valued at $53,440,849 over the last three months.

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Rubrik Stock Down 9.9 %

NYSE RBRK traded down $5.68 during trading on Friday, hitting $51.77. The company's stock had a trading volume of 2,628,555 shares, compared to its average volume of 2,015,263. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $80.00. The firm has a market cap of $9.82 billion and a P/E ratio of -3.76. The firm has a 50 day moving average price of $67.92 and a 200 day moving average price of $57.14.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RBRK shares. Guggenheim increased their price objective on Rubrik from $76.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. BMO Capital Markets raised their price target on Rubrik from $72.00 to $77.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Citigroup boosted their price target on Rubrik from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, January 17th. KeyCorp cut their price objective on shares of Rubrik from $87.00 to $82.00 and set an "overweight" rating on the stock in a research report on Friday, March 14th. Finally, Truist Financial boosted their target price on shares of Rubrik from $50.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target 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.