KBC Group NV Raises Holdings in Rubrik, Inc. (NYSE:RBRK)

KBC Group NV raised its stake in Rubrik, Inc. (NYSE:RBRK) by 24.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,337 shares of the company’s stock after buying an additional 658 shares during the quarter. KBC Group NV’s holdings in Rubrik were worth $203,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in Rubrik in the 4th quarter valued at $28,000. Nemes Rush Group LLC purchased a new stake in Rubrik in the 4th quarter valued at $39,000. Point72 Hong Kong Ltd acquired a new position in shares of Rubrik in the 4th quarter valued at $47,000. Quarry LP acquired a new position in shares of Rubrik in the 4th quarter valued at $48,000. Finally, CoreCap Advisors LLC acquired a new position in shares of Rubrik in the 4th quarter valued at $59,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CTO Arvind Nithrakashyap sold 43,128 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $88.56, for a total value of $3,819,415.68. Following the transaction, the chief technology officer owned 38,122 shares in the company, valued at approximately $3,376,084.32. This represents a 53.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Lightspeed Management Company, sold 16,984 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $89.47, for a total value of $1,519,558.48. Following the completion of the transaction, the insider owned 59,182 shares in the company, valued at approximately $5,295,013.54. The trade was a 22.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,237,703 shares of company stock worth $109,388,538 over the last ninety days. Company insiders own 32.38% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on RBRK shares. Truist Financial upped their price target on Rubrik from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Robert W. Baird upped their price target on Rubrik from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, June 6th. Guggenheim upped their price target on Rubrik from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Oppenheimer reaffirmed a “market perform” rating on shares of Rubrik in a research note on Friday, June 6th. Finally, Piper Sandler decreased their price target on Rubrik from $87.00 to $72.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Three investment 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

Rubrik Price Performance

RBRK stock opened at $88.32 on Monday. The firm has a market capitalization of $17.09 billion, a P/E ratio of -31.21 and a beta of 0.46. The business’s 50-day moving average is $86.80 and its two-hundred day moving average is $73.51. Rubrik, Inc. has a 1 year low of $28.60 and a 1 year high of $103.00.

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