Nikko Asset Management Americas Inc. Sells 97,212 Shares of Rubrik, Inc. (NYSE:RBRK)

Nikko Asset Management Americas Inc. trimmed its holdings in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 548,940 shares of the company's stock after selling 97,212 shares during the period. Nikko Asset Management Americas Inc. owned 0.30% of Rubrik worth $35,879,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Janus Henderson Group PLC raised its stake in Rubrik by 6.9% during the third quarter. Janus Henderson Group PLC now owns 360,653 shares of the company's stock worth $11,595,000 after acquiring an additional 23,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Rubrik during the 3rd quarter valued at approximately $323,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 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 worth $7,998,000 after buying an additional 49,372 shares during the last quarter. Renaissance Capital LLC grew its stake in Rubrik by 21.2% during the 4th quarter. Renaissance Capital LLC now owns 72,775 shares of the company's stock worth $4,757,000 after buying an additional 12,714 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Rubrik in the third quarter worth $336,000. 49.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on RBRK. Guggenheim upped their price target on shares of Rubrik from $76.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday. Piper Sandler upped their target price on shares of Rubrik from $83.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. Barclays lifted their price target on Rubrik from $51.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Rosenblatt Securities raised Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 price objective for the company in a report on Wednesday, March 12th. Finally, BMO Capital Markets lifted their target price on Rubrik from $72.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $70.00.

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Rubrik Price Performance

Rubrik stock traded down $2.04 during midday trading on Friday, reaching $68.15. The stock had a trading volume of 3,934,511 shares, compared to its average volume of 1,932,238. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $80.00. The firm has a market cap of $12.62 billion and a price-to-earnings ratio of -4.95. The firm's fifty day simple moving average is $68.73 and its two-hundred day simple moving average is $54.51.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $233.13 million. The company's quarterly revenue was up 47.5% compared to the same quarter last year. During the same quarter last year, the company earned ($1.59) EPS. As a group, sell-side analysts predict that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Insider Activity

In other Rubrik news, CRO Brian K. Mccarthy sold 65,517 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $66.06, for a total value of $4,328,053.02. Following the transaction, the executive now owns 406,043 shares in the company, valued at $26,823,200.58. The trade was a 13.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $61.59, for a total value of $2,000,689.56. Following the completion of the transaction, the chief technology officer now directly owns 219,279 shares in the company, valued at approximately $13,505,393.61. The trade was a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 621,254 shares of company stock worth $41,195,389 in the last 90 days.

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.