Brown Advisory Inc. Sells 4,025 Shares of Rubrik, Inc. (NYSE:RBRK)

Brown Advisory Inc. lessened its position in Rubrik, Inc. (NYSE:RBRK) by 46.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,560 shares of the company’s stock after selling 4,025 shares during the period. Brown Advisory Inc.’s holdings in Rubrik were worth $278,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in Rubrik in the 4th quarter valued at $28,000. Nemes Rush Group LLC bought a new stake in shares of Rubrik during the fourth quarter worth $39,000. Point72 Hong Kong Ltd acquired a new stake in shares of Rubrik in the fourth quarter valued at $47,000. Quarry LP bought a new position in shares of Rubrik in the fourth quarter valued at about $48,000. Finally, CoreCap Advisors LLC bought a new position in shares of Rubrik in the fourth quarter valued at about $59,000. Institutional investors own 49.54% of the company’s stock.

Insider Buying and Selling

In other Rubrik news, Director Enrique T. Salem sold 700,000 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $91.09, for a total value of $63,763,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $90.10, for a total value of $2,252,500.00. Following the completion of the transaction, the executive directly owned 504,584 shares in the company, valued at $45,463,018.40. The trade was a 4.72% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,229,515 shares of company stock worth $109,999,877. Corporate insiders own 32.38% of the company’s stock.

Wall Street Analysts Forecast Growth

RBRK has been the topic of a number of research analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $110.00 price objective (up previously from $77.00) on shares of Rubrik in a report on Friday, June 6th. Cantor Fitzgerald raised their price target on shares of Rubrik from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, June 6th. Oppenheimer restated a “market perform” rating on shares of Rubrik in a research report on Friday, June 6th. CIBC upped their price objective on Rubrik from $110.00 to $125.00 and gave the stock an “outperformer” rating in a report on Monday, June 9th. Finally, Piper Sandler lowered their target price on Rubrik from $87.00 to $72.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

Rubrik Trading Up 0.2%

NYSE:RBRK opened at $87.49 on Thursday. Rubrik, Inc. has a 1-year low of $28.60 and a 1-year high of $103.00. The business’s 50-day moving average price is $89.18 and its two-hundred day moving average price is $74.52. The firm has a market capitalization of $16.93 billion, a price-to-earnings ratio of -30.92 and a beta of 0.46.

Rubrik (NYSE:RBRK) last released its earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate 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. During the same period in the previous year, the company posted ($1.58) EPS. The company’s quarterly revenue was up 48.7% compared to the same quarter last year. Sell-side analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current year.

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.