Clearbridge Investments LLC Invests $32.89 Million in Rubrik, Inc. (NYSE:RBRK)

Clearbridge Investments LLC bought a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,072,652 shares of the company's stock, valued at approximately $32,888,000. Clearbridge Investments LLC owned 0.60% of Rubrik at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Register Financial Advisors LLC purchased a new position in Rubrik during the second quarter worth about $227,000. Sei Investments Co. acquired a new stake in shares of Rubrik in the 2nd quarter valued at approximately $235,000. PFG Investments LLC acquired a new stake in shares of Rubrik in the 2nd quarter valued at approximately $242,000. Natixis Advisors LLC acquired a new position in Rubrik during the second quarter worth $406,000. Finally, Bank of Montreal Can purchased a new position in Rubrik in the second quarter worth $427,000.

Rubrik Price Performance

Rubrik stock traded up $0.59 during midday trading on Friday, hitting $33.19. 2,560,057 shares of the stock were exchanged, compared to its average volume of 1,456,581. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $40.00. The company has a 50 day simple moving average of $33.04.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings results on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing analysts' consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million during the quarter, compared to analysts' expectations of $195.58 million. Analysts forecast that Rubrik, Inc. will post -7.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RBRK shares. Barclays raised their price target on Rubrik from $41.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday, June 12th. KeyCorp increased their price target on shares of Rubrik from $46.00 to $48.00 and gave the company an "overweight" rating in a research report on Wednesday, June 12th. Citigroup boosted their price target on Rubrik from $47.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. CIBC increased their price objective on Rubrik from $50.00 to $52.00 and gave the company an "outperformer" rating in a research note on Tuesday, September 10th. Finally, Robert W. Baird started coverage on shares of Rubrik in a research note on Monday, July 15th. They issued an "outperform" rating and a $42.00 target price for the company. Sixteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Rubrik has a consensus rating of "Buy" and an average price target of $44.41.

Insider Activity at Rubrik

In other news, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Rubrik news, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Barry Eggers sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total value of $3,274,000.00. Following the sale, the insider now owns 56,736 shares in the company, valued at $1,857,536.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 297,529 shares of company stock valued at $9,445,527 over the last ninety days.

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.