Roger Wittlin Investment Advisory LLC Buys New Shares in Rubrik, Inc. (NYSE:RBRK)

Roger Wittlin Investment Advisory LLC acquired a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,300 shares of the company's stock, valued at approximately $346,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of RBRK. Vanguard Group Inc. grew its holdings in Rubrik by 114.1% during the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock valued at $413,610,000 after purchasing an additional 3,372,323 shares in the last quarter. Norges Bank purchased a new position in Rubrik in the 4th quarter valued at about $277,395,000. JPMorgan Chase & Co. grew its stake in shares of Rubrik by 27.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company's stock valued at $129,359,000 after acquiring an additional 427,149 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Rubrik during the third quarter worth about $42,247,000. Finally, PointState Capital LP acquired a new position in shares of Rubrik in the third quarter worth about $40,466,000. Institutional investors and hedge funds own 49.54% of the company's stock.

Wall Street Analysts Forecast Growth

RBRK has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their price objective on Rubrik from $72.00 to $77.00 and gave the stock an "outperform" rating in a report on Friday, March 14th. Guggenheim lifted their price target on shares of Rubrik from $76.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Cantor Fitzgerald reiterated an "overweight" rating and set a $85.00 price objective on shares of Rubrik in a research note on Friday, March 14th. William Blair began coverage on shares of Rubrik in a research report on Friday, February 7th. They issued a "market perform" rating for the company. Finally, Piper Sandler increased their price target on shares of Rubrik from $83.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $70.00.

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Insider Transactions at Rubrik

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $60.22, for a total value of $1,505,500.00. Following the completion of the transaction, the executive now directly owns 579,217 shares in the company, valued at $34,880,447.74. This trade represents a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Arvind Nithrakashyap sold 32,499 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $67.66, for a total transaction of $2,198,882.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 799,635 shares of company stock valued at $53,440,849.

Rubrik Trading Down 9.9 %

Rubrik stock traded down $5.68 during midday trading on Friday, reaching $51.77. 2,628,555 shares of the stock traded hands, compared to its average volume of 2,015,263. The firm has a fifty day moving average price of $67.92 and a two-hundred day moving average price of $57.14. Rubrik, Inc. has a fifty-two week low of $28.34 and a fifty-two week high of $80.00. The firm has a market cap of $9.82 billion and a price-to-earnings ratio of -3.76.

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 the consensus estimate of ($0.39) by ($0.22). The firm had revenue of $258.10 million during the quarter, compared to analyst estimates of $233.13 million. During the same period in the previous year, the company posted ($1.59) EPS. The company's revenue for the quarter was up 47.5% on a year-over-year basis. Analysts anticipate that Rubrik, Inc. will post -7.66 earnings per share for the current year.

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.