Forum Financial Management LP purchased a new stake in Rubrik, Inc. (NYSE:RBRK – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,846 shares of the company’s stock, valued at approximately $335,000.
Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Rubrik during the fourth quarter worth approximately $345,907,000. First Trust Advisors LP raised its holdings in Rubrik by 42.8% during the fourth quarter. First Trust Advisors LP now owns 7,064,057 shares of the company’s stock worth $540,259,000 after purchasing an additional 2,116,272 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Rubrik by 104.1% during the first quarter. Pictet Asset Management Holding SA now owns 3,325,503 shares of the company’s stock worth $162,572,000 after purchasing an additional 1,696,342 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Rubrik by 12.9% during 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 during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of Rubrik during the 3rd quarter worth approximately $97,828,000. 49.54% of the stock is owned by hedge funds and other institutional investors.
Rubrik Trading Up 4.9%
RBRK stock opened at $80.30 on Wednesday. The company has a market capitalization of $16.53 billion, a P/E ratio of -55.38 and a beta of 1.10. The business has a 50 day simple moving average of $66.49 and a 200-day simple moving average of $62.35. Rubrik, Inc. has a twelve month low of $42.25 and a twelve month high of $99.75.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. Robert W. Baird increased their target price on shares of Rubrik from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, June 11th. Wells Fargo & Company reduced their price target on shares of Rubrik from $125.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. DA Davidson restated a “buy” rating and issued a $90.00 price objective (up from $70.00) on shares of Rubrik in a research note on Thursday, June 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rubrik in a report on Wednesday, June 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Rubrik in a report on Thursday, June 11th. Twenty-eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Rubrik has an average rating of “Moderate Buy” and an average price target of $93.00.
View Our Latest Analysis on RBRK
Insider Activity at Rubrik
In other Rubrik news, CTO Arvind Nithrakashyap sold 199,447 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $84.28, for a total transaction of $16,809,393.16. Following the transaction, the chief technology officer directly owned 314,048 shares of the company’s stock, valued at approximately $26,467,965.44. This trade represents a 38.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Mhatre sold 3,979 shares of Rubrik stock in a transaction on Friday, June 26th. The shares were sold at an average price of $71.49, for a total transaction of $284,458.71. Following the completion of the transaction, the director owned 113,477 shares in the company, valued at approximately $8,112,470.73. This represents a 3.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 267,481 shares of company stock worth $21,393,079 in the last three months. Company insiders own 13.66% of the company’s stock.
About Rubrik
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).
Read More
- Five stocks we like better than Rubrik
- NextEra’s Dominion Deal Could Put It at the Center of the AI Power Race
- Amazon Could Be About to Reap the Rewards of a Software Spending Boom
- Best Buy’s Turnaround Is Gaining Traction, But Wall Street Still Needs Proof
- AI Fears Hit Nebius Stock, But Has the Growth Thesis Changed?
Want to see what other hedge funds are holding RBRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rubrik, Inc. (NYSE:RBRK – Free Report).
Receive News & Ratings for Rubrik Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rubrik and related companies with MarketBeat.com's FREE daily email newsletter.
