Pictet Asset Management Holding SA Has $601,000 Holdings in Rubrik, Inc. (NYSE:RBRK)

Pictet Asset Management Holding SA cut its stake in Rubrik, Inc. (NYSE:RBRK - Free Report) by 95.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,196 shares of the company's stock after selling 194,846 shares during the quarter. Pictet Asset Management Holding SA's holdings in Rubrik were worth $601,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Rubrik by 134.2% during the 3rd 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 stake in shares of Rubrik during the third quarter worth $265,000. BNP Paribas Financial Markets acquired a new stake in shares of Rubrik during the third quarter worth $336,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Rubrik by 24.8% in 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 acquiring an additional 49,372 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Rubrik by 407.7% in the 3rd quarter. Stifel Financial Corp now owns 68,566 shares of the company's stock worth $2,204,000 after purchasing an additional 55,062 shares during the period. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Rubrik Stock Performance

Shares of RBRK stock traded up $0.60 during midday trading on Friday, hitting $58.95. 2,989,381 shares of the company were exchanged, compared to its average volume of 2,045,458. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $80.00. The firm has a market capitalization of $11.19 billion and a P/E ratio of -4.28. The firm's 50 day moving average price is $65.71 and its two-hundred day moving average price is $58.15.

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Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. During the same period in the previous year, the company posted ($1.59) EPS. The firm's revenue for the quarter was up 47.5% on a year-over-year basis. Analysts expect that Rubrik, Inc. will post -7.66 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on RBRK shares. Cantor Fitzgerald restated an "overweight" rating and issued a $85.00 price target on shares of Rubrik in a report on Friday, March 14th. Mizuho boosted their target price on Rubrik from $75.00 to $82.00 and gave the company an "outperform" rating in a research note on Tuesday, December 17th. William Blair began coverage on Rubrik in a research report on Friday, February 7th. They set a "market perform" rating for the company. Piper Sandler lowered their price objective on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company increased their target price on shares of Rubrik from $76.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Rubrik presently has a consensus rating of "Buy" and an average target price of $69.17.

Insider Activity at Rubrik

In related news, CTO Arvind Nithrakashyap sold 227,596 shares of the business's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total value of $14,768,704.44. Following the completion of the transaction, the chief technology officer now owns 219,279 shares of the company's stock, valued at $14,229,014.31. The trade was a 50.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total transaction of $169,000.00. Following the completion of the transaction, the director now directly owns 153 shares in the company, valued at approximately $10,342.80. This represents a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 732,302 shares of company stock worth $48,269,123 in the last ninety days.

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.