Stablepoint Partners LLC Acquires 5,533 Shares of Rubrik, Inc. (NYSE:RBRK)

Stablepoint Partners LLC raised its holdings in Rubrik, Inc. (NYSE:RBRK) by 45.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 17,595 shares of the company’s stock after acquiring an additional 5,533 shares during the period. Stablepoint Partners LLC’s holdings in Rubrik were worth $1,073,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Rubrik during the fourth quarter valued at about $277,395,000. Vanguard Group Inc. grew its position in Rubrik by 114.1% during the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock worth $413,610,000 after buying an additional 3,372,323 shares in the last quarter. FMR LLC increased its stake in Rubrik by 172.6% during the fourth 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. Voloridge Investment Management LLC acquired a new position in Rubrik in the 4th quarter valued at approximately $85,331,000. Finally, Bank of America Corp DE raised its holdings in Rubrik by 1,305.1% in the 4th quarter. Bank of America Corp DE now owns 1,116,804 shares of the company’s stock valued at $72,994,000 after acquiring an additional 1,037,319 shares in the last quarter. 49.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RBRK has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on shares of Rubrik from $87.00 to $72.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company lifted their price target on Rubrik from $80.00 to $125.00 and gave the company an “overweight” rating in a report on Friday. BMO Capital Markets reaffirmed an “outperform” rating and set a $110.00 price objective (up previously from $77.00) on shares of Rubrik in a report on Friday. Wedbush reaffirmed an “outperform” rating and issued a $120.00 target price (up previously from $80.00) on shares of Rubrik in a research note on Friday. Finally, Roth Capital lifted their price objective on Rubrik from $97.00 to $107.00 and gave the stock a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.81.

Rubrik Stock Performance

NYSE:RBRK opened at $98.03 on Friday. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $103.00. The company has a market cap of $18.60 billion, a PE ratio of -34.64 and a beta of 0.87. The stock has a 50-day simple moving average of $75.32 and a 200 day simple moving average of $69.25.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.17. The firm had revenue of $278.48 million for the quarter, compared to the consensus estimate of $260.39 million. The business’s revenue was up 48.7% compared to the same quarter last year. During the same period last year, the company posted ($1.58) earnings per share. On average, research analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rubrik news, Director Yvonne Wassenaar sold 3,000 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $70.03, for a total transaction of $210,090.00. Following the completion of the sale, the director now directly owns 153 shares in the company, valued at $10,714.59. This represents a 95.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kiran Kumar Choudary sold 87,971 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $70.04, for a total value of $6,161,488.84. Following the completion of the sale, the chief financial officer now directly owns 413,458 shares in the company, valued at $28,958,598.32. This trade represents a 17.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 632,609 shares of company stock valued at $47,450,968. Insiders own 32.38% of the company’s stock.

Rubrik Profile

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.