Norges Bank Makes New $277.40 Million Investment in Rubrik, Inc. (NYSE:RBRK)

Norges Bank purchased a new position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,244,106 shares of the company's stock, valued at approximately $277,395,000. Norges Bank owned about 2.29% of Rubrik as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Rubrik by 114.1% during the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock worth $413,610,000 after acquiring an additional 3,372,323 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Rubrik by 27.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company's stock valued at $129,359,000 after purchasing an additional 427,149 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Rubrik in the third quarter worth about $42,247,000. PointState Capital LP acquired a new stake in Rubrik in the third quarter worth about $40,466,000. Finally, Institutional Venture Management XV LLC grew its position in Rubrik by 3,620.4% in the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company's stock valued at $37,378,000 after buying an additional 1,131,360 shares in the last quarter. Institutional investors and hedge funds own 49.54% of the company's stock.

Insider Transactions at Rubrik

In other news, CTO Arvind Nithrakashyap sold 227,596 shares of the firm's stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $64.89, for a total transaction of $14,768,704.44. Following the transaction, the chief technology officer now owns 219,279 shares in the company, valued at approximately $14,229,014.31. This trade represents a 50.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $60.22, for a total transaction of $1,505,500.00. Following the completion of the sale, the executive now directly owns 579,217 shares of the company's stock, valued at approximately $34,880,447.74. The trade was a 4.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 817,426 shares of company stock valued at $54,693,394.

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Rubrik Trading Up 3.5 %

NYSE:RBRK traded up $2.13 on Wednesday, hitting $62.60. 1,381,655 shares of the company's stock traded hands, compared to its average volume of 2,009,011. The company has a market cap of $11.88 billion and a PE ratio of -4.54. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $80.00. The firm has a 50-day moving average price of $68.74 and a 200-day moving average price of $56.78.

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 company had revenue of $258.10 million for the quarter, compared to analysts' expectations of $233.13 million. During the same quarter in the previous year, the firm earned ($1.59) earnings per share. The business's quarterly revenue was up 47.5% compared to the same quarter last year. On average, research analysts forecast that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RBRK shares. Citigroup upped their price target on shares of Rubrik from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Friday, January 17th. Rosenblatt Securities raised Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 price target for the company in a research note on Wednesday, March 12th. Wedbush boosted their price objective on Rubrik from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Wells Fargo & Company upped their price objective on Rubrik from $76.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, March 14th. Finally, KeyCorp lowered their target price on Rubrik from $87.00 to $82.00 and set an "overweight" rating on the stock in a report on Friday, March 14th. Two equities 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. Based on data from MarketBeat.com, Rubrik has a consensus 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.