Jasper Ridge Partners L.P. Acquires New Stake in Rubrik, Inc. (NYSE:RBRK)

Jasper Ridge Partners L.P. bought a new position in Rubrik, Inc. (NYSE:RBRK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,303 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RBRK. Russell Investments Group Ltd. bought a new position in Rubrik during the fourth quarter valued at about $28,000. Global Retirement Partners LLC boosted its position in shares of Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. Nemes Rush Group LLC acquired a new position in shares of Rubrik in the 4th quarter worth approximately $39,000. Quarry LP bought a new stake in shares of Rubrik in the 4th quarter worth approximately $48,000. Finally, CoreCap Advisors LLC acquired a new stake in Rubrik during the fourth quarter valued at approximately $59,000. 49.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RBRK has been the subject of a number of recent research reports. Piper Sandler cut their price objective on Rubrik from $87.00 to $72.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Citigroup upped their target price on Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 17th. Guggenheim lifted their price target on Rubrik from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Wells Fargo & Company upped their price objective on shares of Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Finally, Rosenblatt Securities raised shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price on the stock in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $68.83.

Rubrik Price Performance

RBRK opened at $76.87 on Friday. The company has a market capitalization of $14.59 billion and a P/E ratio of -5.58. The firm’s fifty day moving average price is $64.44 and its two-hundred day moving average price is $62.67. Rubrik, Inc. has a fifty-two week low of $28.34 and a fifty-two week high of $80.00.

Rubrik (NYSE:RBRK) last issued its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. During the same quarter in the prior year, the business posted ($1.59) EPS. The business’s quarterly revenue was up 47.5% compared to the same quarter last year. On average, equities research analysts expect that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Insider Transactions at Rubrik

In related news, Director Yvonne Wassenaar sold 2,000 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $72.24, for a total transaction of $144,480.00. Following the transaction, the director now owns 153 shares in the company, valued at $11,052.72. This represents a 92.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kiran Kumar Choudary sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. Following the completion of the sale, the chief financial officer now owns 588,665 shares of the company’s stock, valued at $44,149,875. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 546,117 shares of company stock valued at $36,491,888.

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.