Oppenheimer & Co. Inc. Acquires New Stake in Rubrik, Inc. (NYSE:RBRK)

Oppenheimer & Co. Inc. acquired a new stake in shares of Rubrik, Inc. (NYSE:RBRK) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,693 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in Rubrik during the fourth quarter valued at $28,000. Nemes Rush Group LLC purchased a new stake in Rubrik during the fourth quarter valued at $39,000. Point72 Hong Kong Ltd purchased a new stake in Rubrik during the fourth quarter valued at $47,000. Quarry LP purchased a new stake in Rubrik during the fourth quarter valued at $48,000. Finally, CoreCap Advisors LLC purchased a new stake in Rubrik during the fourth quarter valued at $59,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Insider Transactions at Rubrik

In related news, Director Enrique T. Salem sold 700,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $91.09, for a total transaction of $63,763,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kiran Kumar Choudary sold 30,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $100.24, for a total value of $3,007,200.00. Following the transaction, the chief financial officer directly owned 521,665 shares of the company’s stock, valued at approximately $52,291,699.60. The trade was a 5.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,270,187 shares of company stock valued at $111,079,005 in the last ninety days. Corporate insiders own 32.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RBRK. Cantor Fitzgerald upped their price objective on Rubrik from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, June 6th. KeyCorp reiterated an “overweight” rating and set a $113.00 price objective (up previously from $98.00) on shares of Rubrik in a research report on Friday, June 6th. UBS Group restated a “buy” rating on shares of Rubrik in a research report on Friday, June 6th. Robert W. Baird upped their price target on Rubrik from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, June 6th. Finally, CIBC upped their price target on Rubrik from $110.00 to $125.00 and gave the stock an “outperformer” rating in a research report on Monday, June 9th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.38.

Rubrik Stock Up 3.2%

NYSE RBRK opened at $88.32 on Friday. The firm has a market cap of $17.09 billion, a price-to-earnings ratio of -31.21 and a beta of 0.46. The business has a 50-day moving average price of $86.43 and a 200-day moving average price of $73.32. Rubrik, Inc. has a twelve month low of $28.60 and a twelve month high of $103.00.

Rubrik (NYSE:RBRK) last released its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.17. The business had revenue of $278.48 million during the quarter, compared to the consensus estimate of $260.39 million. The business’s revenue was up 48.7% on a year-over-year basis. During the same period last year, the company earned ($1.58) EPS. Research analysts expect that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Rubrik Company 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.