State of Tennessee Department of Treasury Reduces Stock Holdings in Rubrik, Inc. (NYSE:RBRK)

State of Tennessee Department of Treasury decreased its stake in Rubrik, Inc. (NYSE:RBRK) by 81.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,540 shares of the company’s stock after selling 126,761 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Rubrik were worth $1,931,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Renaissance Capital LLC boosted its holdings in shares of Rubrik by 21.2% in the 4th quarter. Renaissance Capital LLC now owns 72,775 shares of the company’s stock worth $4,757,000 after purchasing an additional 12,714 shares during the period. FMR LLC boosted its holdings in Rubrik by 172.6% during the 4th quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after acquiring an additional 2,065,444 shares during the period. US Bancorp DE boosted its holdings in Rubrik by 1,329.9% during the 4th quarter. US Bancorp DE now owns 19,547 shares of the company’s stock valued at $1,278,000 after acquiring an additional 18,180 shares during the period. Raymond James Financial Inc. purchased a new position in Rubrik during the 4th quarter valued at $11,462,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Rubrik by 434.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 335,238 shares of the company’s stock valued at $21,911,000 after acquiring an additional 272,482 shares during the period. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Rubrik Price Performance

Shares of NYSE:RBRK opened at $69.78 on Tuesday. The business’s 50-day moving average is $62.98 and its 200 day moving average is $60.64. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $80.00. The firm has a market capitalization of $13.24 billion and a P/E ratio of -5.06.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company earned ($1.59) earnings per share. The business’s revenue for the quarter was up 47.5% on a year-over-year basis. On average, analysts expect that Rubrik, Inc. will post -7.66 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RBRK. Robert W. Baird dropped their price objective on Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. KeyCorp decreased their target price on Rubrik from $82.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company lifted their target price on Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Rubrik in a research report on Friday, March 14th. Finally, Rosenblatt Securities raised Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price for the company in a research report on Wednesday, March 12th. Two 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 data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $68.83.

Insiders Place Their Bets

In other Rubrik news, major shareholder Lightspeed Management Company, sold 13,213 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $62.98, for a total transaction of $832,154.74. Following the completion of the transaction, the insider now directly owns 21,221 shares of the company’s stock, valued at approximately $1,336,498.58. This trade represents a 38.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kiran Kumar Choudary sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $62.03, for a total transaction of $124,060.00. Following the transaction, the chief financial officer now directly owns 614,798 shares of the company’s stock, valued at $38,135,919.94. This represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 515,619 shares of company stock valued at $34,167,897.

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.