Renaissance Technologies LLC Acquires New Holdings in Rubrik, Inc. (NYSE:RBRK)

Renaissance Technologies LLC acquired a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 987,300 shares of the company's stock, valued at approximately $64,530,000. Renaissance Technologies LLC owned approximately 0.53% of Rubrik as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bank of Montreal Can lifted its stake in shares of Rubrik by 43.2% during the 4th quarter. Bank of Montreal Can now owns 24,460 shares of the company's stock worth $1,599,000 after purchasing an additional 7,378 shares during the period. Cerity Partners LLC acquired a new position in Rubrik in the fourth quarter valued at $209,000. Trek Financial LLC purchased a new position in Rubrik during the fourth quarter worth about $2,490,000. FMR LLC boosted its stake in Rubrik by 172.6% in the 4th quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after buying an additional 2,065,444 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in Rubrik by 32.0% in the 4th quarter. Federated Hermes Inc. now owns 1,516,991 shares of the company's stock valued at $99,151,000 after buying an additional 367,491 shares during the period. Institutional investors and hedge funds own 49.54% of the company's stock.

Insiders Place Their Bets

In other news, CTO Arvind Nithrakashyap sold 32,485 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $74.85, for a total transaction of $2,431,502.25. Following the completion of the transaction, the chief technology officer now directly owns 219,279 shares of the company's stock, valued at approximately $16,413,033.15. This represents a 12.90 % 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 the SEC website. Also, Director Yvonne Wassenaar sold 2,500 shares of the firm'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 completion of the sale, the director now directly owns 153 shares in the company, valued at approximately $11,828.43. This trade represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 732,302 shares of company stock valued at $48,269,123 in the last quarter.

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Rubrik Stock Performance

Shares of NYSE:RBRK traded up $0.51 during trading on Monday, hitting $59.52. The company's stock had a trading volume of 883,730 shares, compared to its average volume of 2,407,518. Rubrik, Inc. has a fifty-two week low of $28.34 and a fifty-two week high of $80.00. The stock's 50-day moving average price is $65.71 and its two-hundred day moving average price is $58.34. The company has a market capitalization of $11.30 billion and a PE ratio of -4.32.

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

Wall Street Analysts Forecast Growth

RBRK has been the topic of several research analyst reports. William Blair assumed coverage on shares of Rubrik in a research report on Friday, February 7th. They issued a "market perform" rating on the stock. Wedbush boosted their price objective 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. KeyCorp cut their target price on Rubrik from $87.00 to $82.00 and set an "overweight" rating on the stock in a research 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 report on Friday, January 17th. Finally, Rosenblatt Securities upgraded Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 price objective on the stock in a report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Rubrik presently has an average rating of "Buy" and a consensus target price of $69.17.

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.