Fmr LLC Purchases 2,065,444 Shares of Rubrik, Inc. (NYSE:RBRK)

FMR LLC increased its holdings in Rubrik, Inc. (NYSE:RBRK - Free Report) by 172.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,261,925 shares of the company's stock after purchasing an additional 2,065,444 shares during the quarter. FMR LLC owned approximately 1.76% of Rubrik worth $213,199,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Renaissance Capital LLC increased its stake in Rubrik by 21.2% in the fourth quarter. Renaissance Capital LLC now owns 72,775 shares of the company's stock valued at $4,757,000 after purchasing an additional 12,714 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Rubrik in the third quarter valued at approximately $336,000. US Bancorp DE lifted its holdings in shares of Rubrik by 1,329.9% in the fourth quarter. US Bancorp DE now owns 19,547 shares of the company's stock valued at $1,278,000 after purchasing an additional 18,180 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Rubrik during the fourth quarter valued at approximately $11,462,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Rubrik by 434.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 335,238 shares of the company's stock worth $21,911,000 after buying an additional 272,482 shares in the last quarter. Institutional investors and hedge funds own 49.54% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on RBRK shares. Piper Sandler cut 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, April 8th. Wedbush upped their price objective on shares of Rubrik from $75.00 to $80.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. Citigroup lifted their target price on shares of Rubrik from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. William Blair assumed coverage on Rubrik in a report on Friday, February 7th. They issued a "market perform" rating for the company. Finally, Guggenheim increased their price target on Rubrik from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Two investment 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $69.17.

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Rubrik Price Performance

Shares of NYSE:RBRK traded up $2.69 during trading on Tuesday, hitting $62.74. 1,463,796 shares of the company were exchanged, compared to its average volume of 2,045,638. The stock has a 50 day moving average of $65.40 and a 200 day moving average of $58.53. The company has a market cap of $11.91 billion and a PE ratio of -4.55. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $80.00.

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

Insider Buying and Selling at Rubrik

In other news, Director Yvonne Wassenaar sold 2,500 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $66.52, for a total transaction of $119,736.00. Following the completion of the transaction, the chief financial officer now directly owns 341,374 shares in the company, valued at approximately $22,708,198.48. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 504,706 shares of company stock worth $33,500,418 over the last three months.

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.