NewEdge Advisors LLC Takes Position in Rubrik, Inc. (NYSE:RBRK)

NewEdge Advisors LLC bought a new position in shares of Rubrik, Inc. (NYSE:RBRK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 950 shares of the company’s stock, valued at approximately $62,000.

Several other hedge funds have also recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new stake in shares of Rubrik during the fourth quarter worth $28,000. Global Retirement Partners LLC increased its holdings in Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Nemes Rush Group LLC bought a new stake in shares of Rubrik in the fourth quarter valued at about $39,000. Rhumbline Advisers acquired a new position in shares of Rubrik during the fourth quarter worth about $64,000. Finally, Geneos Wealth Management Inc. bought a new position in shares of Rubrik during the fourth quarter worth about $70,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RBRK shares. Rosenblatt Securities raised Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Wednesday, March 12th. Citigroup raised their target price on shares of Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Wells Fargo & Company lifted their price target 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. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Rubrik in a research note on Friday, March 14th. Finally, BMO Capital Markets lifted their target price on Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $68.83.

Rubrik Stock Performance

Shares of Rubrik stock opened at $73.32 on Friday. The firm has a 50-day moving average of $63.23 and a 200-day moving average of $61.39. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $80.00. The stock has a market cap of $13.91 billion and a PE ratio of -5.32.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The business had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $233.13 million. During the same period in the prior year, the company earned ($1.59) earnings per share. The firm’s revenue for the quarter was up 47.5% on a year-over-year basis. Equities research analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Lightspeed Management Company, sold 13,213 shares of the business’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $62.98, for a total value of $832,154.74. Following the completion of the transaction, the insider now owns 21,221 shares of the company’s stock, valued at $1,336,498.58. The trade was a 38.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total transaction of $193,275.00. Following the sale, the director now directly owns 153 shares of the company’s stock, valued at $11,828.43. This represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 573,128 shares of company stock worth $38,238,360 in the last 90 days.

About Rubrik

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.