Rubrik (NYSE:RBRK) Posts Earnings Results

Rubrik (NYSE:RBRKGet Free Report) released its earnings results on Thursday. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.16, FiscalAI reports.

Rubrik Stock Performance

Shares of RBRK stock traded up $11.04 on Thursday, hitting $107.17. 6,362,975 shares of the stock traded hands, compared to its average volume of 3,718,705. The firm’s 50-day moving average price is $83.75 and its two-hundred day moving average price is $66.85. The stock has a market capitalization of $22.06 billion, a PE ratio of -73.91 and a beta of 1.17. Rubrik has a twelve month low of $42.25 and a twelve month high of $107.91.

Insider Activity

In other Rubrik news, Director John Wendell Thompson sold 2,500 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $74.11, for a total value of $185,275.00. Following the transaction, the director directly owned 10,000 shares in the company, valued at $741,100. The trade was a 20.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kiran Kumar Choudary sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $98.32, for a total value of $983,200.00. Following the completion of the transaction, the chief financial officer owned 978,073 shares in the company, valued at $96,164,137.36. This represents a 1.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 327,682 shares of company stock valued at $27,385,376 in the last quarter. Insiders own 13.66% of the company’s stock.

Institutional Investors Weigh In On Rubrik

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ankerstar Wealth LLC purchased a new stake in shares of Rubrik in the 4th quarter valued at approximately $113,000. PNC Financial Services Group Inc. increased its holdings in Rubrik by 32.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,638 shares of the company’s stock valued at $125,000 after purchasing an additional 399 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in Rubrik by 103.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 666 shares of the company’s stock valued at $55,000 after purchasing an additional 338 shares during the last quarter. Danske Bank A S purchased a new stake in Rubrik in the third quarter valued at approximately $82,000. Finally, NewEdge Advisors LLC raised its position in Rubrik by 12.0% in the second quarter. NewEdge Advisors LLC now owns 1,400 shares of the company’s stock valued at $125,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RBRK shares. BMO Capital Markets lifted their target price on shares of Rubrik from $87.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Oppenheimer set a $120.00 price target on shares of Rubrik in a research note on Thursday, August 20th. Truist Financial raised their price target on shares of Rubrik from $90.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. UBS Group restated a “buy” rating and set a $106.00 price target on shares of Rubrik in a research report on Wednesday, August 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $91.00 price objective (up from $84.00) on shares of Rubrik in a research note on Friday, June 5th. Twenty-nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $104.56.

Get Our Latest Stock Report on RBRK

Rubrik Company Profile

(Get Free Report)

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).

See Also

Earnings History for Rubrik (NYSE:RBRK)

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