Raymond James Financial Inc. Purchases New Position in Rubrik, Inc. (NYSE:RBRK)

Raymond James Financial Inc. purchased a new stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 175,374 shares of the company's stock, valued at approximately $11,462,000. Raymond James Financial Inc. owned 0.09% of Rubrik at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Wealthcare Advisory Partners LLC boosted its position in shares of Rubrik by 3.0% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company's stock worth $683,000 after buying an additional 300 shares during the period. KBC Group NV grew its stake in Rubrik by 19.1% during the 4th quarter. KBC Group NV now owns 2,679 shares of the company's stock valued at $175,000 after acquiring an additional 430 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Rubrik during the third quarter worth approximately $25,000. Finally, Hamilton Lane Advisors LLC increased its stake in Rubrik by 3.0% in the 4th quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company's stock valued at $2,224,000 after buying an additional 980 shares during the period. Hedge funds and other institutional investors own 49.54% of the company's stock.

Rubrik Stock Performance

Shares of NYSE:RBRK traded up $5.43 on Monday, hitting $73.62. 2,945,082 shares of the company were exchanged, compared to its average volume of 1,936,427. The company's 50 day moving average price is $68.82 and its two-hundred day moving average price is $55.05. The firm has a market capitalization of $13.64 billion and a price-to-earnings ratio of -5.34. Rubrik, Inc. has a one year low of $28.34 and a one year high of $80.00.

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Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to analysts' expectations of $233.13 million. The firm's revenue for the quarter was up 47.5% on a year-over-year basis. During the same quarter last year, the company earned ($1.59) EPS. Research analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Insider Activity

In related news, CTO Arvind Nithrakashyap sold 227,596 shares of the company's stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $64.89, for a total value of $14,768,704.44. Following the sale, 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 legal filing with the SEC, which is available through this hyperlink. Also, Director Yvonne Wassenaar sold 2,500 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total transaction of $169,000.00. Following the transaction, the director now owns 153 shares of the company's stock, valued at approximately $10,342.80. This represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 621,254 shares of company stock worth $41,195,389.

Analyst Upgrades and Downgrades

RBRK has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Rubrik from $76.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, March 14th. Wedbush lifted their price target on Rubrik from $75.00 to $80.00 and gave the company an "outperform" rating in a report on Friday, March 14th. Citigroup boosted their price target on Rubrik from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, January 17th. BMO Capital Markets raised their price objective on shares of Rubrik from $72.00 to $77.00 and gave the company an "outperform" rating in a research report on Friday, March 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $85.00 target price on shares of Rubrik in a research report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $70.00.

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.