Pictet Asset Management Holding SA increased its position in shares of Rubrik, Inc. (NYSE:RBRK – Free Report) by 104.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 3,325,503 shares of the company’s stock after buying an additional 1,696,342 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Rubrik were worth $162,572,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in RBRK. Vanguard Group Inc. raised its stake in shares of Rubrik by 12.9% in the 4th quarter. Vanguard Group Inc. now owns 14,694,503 shares of the company’s stock worth $1,123,836,000 after buying an additional 1,678,255 shares in the last quarter. First Trust Advisors LP boosted its stake in Rubrik by 42.8% during the fourth quarter. First Trust Advisors LP now owns 7,064,057 shares of the company’s stock valued at $540,259,000 after buying an additional 2,116,272 shares in the last quarter. Norges Bank bought a new position in Rubrik during the fourth quarter valued at about $345,907,000. Geode Capital Management LLC grew its holdings in Rubrik by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 2,528,649 shares of the company’s stock worth $193,433,000 after acquiring an additional 178,714 shares during the period. Finally, Federated Hermes Inc. grew its holdings in Rubrik by 0.5% during the fourth quarter. Federated Hermes Inc. now owns 2,449,646 shares of the company’s stock worth $187,349,000 after acquiring an additional 11,878 shares during the period. 49.54% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have commented on RBRK shares. Robert W. Baird boosted their price target on shares of Rubrik from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Rubrik in a research note on Monday, June 1st. Stephens reiterated an “overweight” rating and issued a $90.00 target price on shares of Rubrik in a report on Monday, June 15th. Piper Sandler reiterated an “overweight” rating and issued a $91.00 target price (up from $84.00) on shares of Rubrik in a report on Friday, June 5th. Finally, Truist Financial reissued a “buy” rating and set a $90.00 target price (up from $80.00) on shares of Rubrik in a research note on Friday, June 5th. Twenty-eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Rubrik presently has an average rating of “Moderate Buy” and an average price target of $93.00.
Insider Activity at Rubrik
In other news, CFO Kiran Kumar Choudary sold 20,000 shares of the company’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $51.69, for a total value of $1,033,800.00. Following the transaction, the chief financial officer owned 549,901 shares in the company, valued at $28,424,382.69. This represents a 3.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yvonne Wassenaar sold 2,838 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $75.00, for a total transaction of $212,850.00. Following the sale, the director owned 2,326 shares of the company’s stock, valued at approximately $174,450. This represents a 54.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 280,981 shares of company stock worth $22,053,379. Company insiders own 13.66% of the company’s stock.
Rubrik Stock Up 0.0%
Shares of Rubrik stock opened at $72.35 on Monday. The stock has a market cap of $14.89 billion, a PE ratio of -49.90 and a beta of 1.09. The business has a fifty day simple moving average of $65.44 and a 200-day simple moving average of $62.52. Rubrik, Inc. has a 12 month low of $42.25 and a 12 month high of $99.75.
Rubrik (NYSE:RBRK – Get Free Report) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.19. The business had revenue of $387.07 million for the quarter, compared to analysts’ expectations of $366.31 million. The business’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.15) EPS. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. Analysts expect that Rubrik, Inc. will post -1.16 EPS for the current fiscal year.
Rubrik Profile
Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.
The company’s platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).
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