UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 24.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 248,772 shares of the company's stock after purchasing an additional 49,372 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.14% of Rubrik worth $7,998,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Dragoneer Investment Group LLC acquired a new position in shares of Rubrik in the 2nd quarter valued at $47,523,000. Champlain Investment Partners LLC purchased a new stake in Rubrik during the third quarter valued at about $44,418,000. Penserra Capital Management LLC acquired a new stake in Rubrik during the third quarter worth about $35,359,000. Clearbridge Investments LLC acquired a new position in shares of Rubrik in the 2nd quarter valued at about $32,888,000. Finally, Pathway Capital Management LP acquired a new stake in Rubrik during the 3rd quarter worth approximately $23,527,000. Hedge funds and other institutional investors own 49.54% of the company's stock.
Insider Activity at Rubrik
In related news, CRO Brian K. Mccarthy sold 104,672 shares of Rubrik stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.32, for a total value of $3,278,327.04. Following the sale, the executive now directly owns 462,545 shares in the company, valued at $14,486,909.40. This trade represents a 18.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kiran Kumar Choudary sold 1,500 shares of the company's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $39.40, for a total transaction of $59,100.00. Following the completion of the transaction, the chief financial officer now owns 423,060 shares of the company's stock, valued at approximately $16,668,564. This trade represents a 0.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 574,912 shares of company stock valued at $22,673,114 in the last quarter.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. KeyCorp increased their price objective on shares of Rubrik from $57.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday. Piper Sandler reissued an "overweight" rating and issued a $72.00 price objective (up from $42.00) on shares of Rubrik in a research report on Friday. BMO Capital Markets boosted their price objective on Rubrik from $38.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday. Citigroup increased their target price on Rubrik from $48.00 to $75.00 and gave the company a "buy" rating in a research note on Friday. Finally, Barclays raised their target price on Rubrik from $51.00 to $70.00 and gave the company an "overweight" rating in a report on Friday. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $61.88.
Get Our Latest Stock Analysis on RBRK
Rubrik Price Performance
Shares of NYSE RBRK traded down $0.57 during trading on Tuesday, reaching $69.22. The stock had a trading volume of 3,887,681 shares, compared to its average volume of 1,629,706. Rubrik, Inc. has a one year low of $28.34 and a one year high of $73.90. The firm's 50 day moving average price is $44.16 and its two-hundred day moving average price is $36.71.
Rubrik (NYSE:RBRK - Get Free Report) last issued its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts' consensus estimates of ($0.96) by ($0.01). The business had revenue of $204.95 million for the quarter, compared to the consensus estimate of $195.58 million. As a group, equities research analysts expect that Rubrik, Inc. will post -8.04 earnings per share for the current year.
Rubrik Profile
(
Free Report)
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.
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