Melqart Asset Management UK Ltd Cuts Stock Holdings in Rubrik, Inc. (NYSE:RBRK)

Melqart Asset Management UK Ltd reduced its position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 37.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 273,338 shares of the company's stock after selling 165,728 shares during the period. Rubrik comprises approximately 2.2% of Melqart Asset Management UK Ltd's portfolio, making the stock its 15th largest position. Melqart Asset Management UK Ltd owned approximately 0.15% of Rubrik worth $17,865,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Rubrik by 114.1% during the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock worth $413,610,000 after purchasing an additional 3,372,323 shares during the last quarter. Norges Bank purchased a new stake in Rubrik in the 4th quarter valued at about $277,395,000. FMR LLC lifted its holdings in shares of Rubrik by 172.6% during the 4th quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after acquiring an additional 2,065,444 shares during the period. First Trust Advisors LP increased its position in Rubrik by 26.6% during the fourth quarter. First Trust Advisors LP now owns 3,156,035 shares of the company's stock worth $206,278,000 after purchasing an additional 662,914 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Rubrik by 27.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company's stock worth $129,359,000 after buying an additional 427,149 shares during the period. 49.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RBRK has been the topic of several recent research reports. KeyCorp reduced their target price on shares of Rubrik from $82.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Rosenblatt Securities upgraded Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 price objective on the stock in a research note on Wednesday, March 12th. Citigroup increased their target price on Rubrik from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Robert W. Baird reduced their price target on Rubrik from $83.00 to $76.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 12th. Finally, Wedbush upped their price target on Rubrik from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $68.83.

Insider Buying and Selling at Rubrik

In other news, CFO Kiran Kumar Choudary sold 87,971 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $70.04, for a total transaction of $6,161,488.84. Following the completion of the sale, the chief financial officer now owns 413,458 shares in the company, valued at approximately $28,958,598.32. This trade represents a 17.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Arvind Nithrakashyap sold 32,485 shares of Rubrik stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $70.85, for a total transaction of $2,301,562.25. Following the sale, the chief technology officer now directly owns 219,279 shares of the company's stock, valued at $15,535,917.15. The trade was a 12.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 515,619 shares of company stock worth $34,167,897 over the last 90 days.

Rubrik Trading Up 2.3 %

Shares of NYSE RBRK opened at $69.78 on Friday. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $80.00. The firm's 50-day moving average is $63.07 and its 200-day moving average is $60.27. The firm has a market capitalization of $13.24 billion and a PE ratio of -5.06.

Rubrik (NYSE:RBRK - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS 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 the consensus estimate of $233.13 million. During the same period in the previous year, the business posted ($1.59) earnings per share. Rubrik's revenue for the quarter was up 47.5% on a year-over-year basis. As a group, equities research analysts anticipate that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

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.

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