Quantessence Capital LLC Purchases New Stake in Rubrik, Inc. (NYSE:RBRK)

Quantessence Capital LLC bought a new position in Rubrik, Inc. (NYSE:RBRK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 12,171 shares of the company's stock, valued at approximately $795,000.

Several other hedge funds and other institutional investors have also modified their holdings of RBRK. State Street Corp grew its holdings in shares of Rubrik by 368.9% during the 3rd quarter. State Street Corp now owns 421,096 shares of the company's stock worth $13,538,000 after purchasing an additional 331,296 shares in the last quarter. Barclays PLC boosted its holdings in Rubrik by 140.6% in the third quarter. Barclays PLC now owns 12,029 shares of the company's stock valued at $386,000 after acquiring an additional 7,029 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Rubrik by 133.3% during the third quarter. Geode Capital Management LLC now owns 568,646 shares of the company's stock worth $18,290,000 after purchasing an additional 324,951 shares in the last quarter. Garden State Investment Advisory Services LLC acquired a new position in shares of Rubrik in the 3rd quarter valued at $394,000. Finally, Green Alpha Advisors LLC bought a new stake in shares of Rubrik in the 4th quarter valued at $346,000. Institutional investors and hedge funds own 49.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RBRK. KeyCorp decreased their target price on Rubrik from $82.00 to $76.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Cantor Fitzgerald reissued an "overweight" rating and set a $85.00 target price on shares of Rubrik in a research note on Friday, March 14th. Wedbush lifted their price target on shares of Rubrik from $75.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, March 14th. William Blair initiated coverage on shares of Rubrik in a research report on Friday, February 7th. They set a "market perform" rating for the company. Finally, Rosenblatt Securities raised shares of Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 price objective on the stock in a research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $68.83.

Insider Activity

In other news, Director Yvonne Wassenaar sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total value of $193,275.00. Following the transaction, the director now owns 153 shares of the company's stock, valued at approximately $11,828.43. This represents a 94.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kiran Kumar Choudary sold 87,971 shares of Rubrik stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $70.04, for a total value of $6,161,488.84. Following the sale, the chief financial officer now directly owns 413,458 shares of the company's stock, valued at approximately $28,958,598.32. The trade was a 17.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 515,619 shares of company stock valued at $34,167,897 over the last ninety days.

Rubrik Stock Up 3.9 %

Shares of RBRK stock traded up $2.56 on Thursday, reaching $68.11. The stock had a trading volume of 2,252,472 shares, compared to its average volume of 2,060,963. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $80.00. The firm has a market capitalization of $12.93 billion and a price-to-earnings ratio of -4.94. The firm's 50-day moving average is $63.24 and its two-hundred day moving average is $59.86.

Rubrik (NYSE:RBRK - Get Free Report) last released 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. The firm's revenue was up 47.5% on a year-over-year basis. During the same period last year, the firm posted ($1.59) earnings per share. On average, sell-side analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

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.