Bank of New York Mellon Corp Buys 116,084 Shares of Rubrik, Inc. (NYSE:RBRK)

Bank of New York Mellon Corp grew its holdings in shares of Rubrik, Inc. (NYSE:RBRK) by 106.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 224,923 shares of the company’s stock after buying an additional 116,084 shares during the period. Bank of New York Mellon Corp owned 0.12% of Rubrik worth $13,716,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Russell Investments Group Ltd. purchased a new position in Rubrik in the 4th quarter worth about $28,000. Nemes Rush Group LLC bought a new position in Rubrik in the 4th quarter worth approximately $39,000. KBC Group NV raised its holdings in shares of Rubrik by 24.6% during the 1st quarter. KBC Group NV now owns 3,337 shares of the company’s stock worth $203,000 after acquiring an additional 658 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Rubrik during the 4th quarter valued at $47,000. Finally, Quarry LP purchased a new stake in Rubrik during the 4th quarter valued at $48,000. Institutional investors own 49.54% of the company’s stock.

Insiders Place Their Bets

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $90.10, for a total transaction of $2,252,500.00. Following the completion of the transaction, the executive directly owned 504,584 shares of the company’s stock, valued at approximately $45,463,018.40. This represents a 4.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kiran Kumar Choudary sold 30,000 shares of the firm’s 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 completion of the transaction, the chief financial officer directly owned 521,665 shares of the company’s stock, valued at $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. In the last quarter, insiders sold 1,229,515 shares of company stock valued at $109,999,877. Corporate insiders own 32.38% of the company’s stock.

Analysts Set New Price Targets

RBRK has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $110.00 price objective (up previously from $77.00) on shares of Rubrik in a research report on Friday, June 6th. Oppenheimer reissued a “market perform” rating on shares of Rubrik in a report on Friday, June 6th. Truist Financial raised their price target on Rubrik from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, June 6th. CIBC raised their price objective on Rubrik from $110.00 to $125.00 and gave the stock an “outperformer” rating in a research note on Monday, June 9th. Finally, Cantor Fitzgerald raised their price objective on Rubrik from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $100.38.

Rubrik Stock Performance

NYSE RBRK opened at $88.02 on Friday. The firm has a market capitalization of $17.03 billion, a P/E ratio of -31.10 and a beta of 0.46. Rubrik, Inc. has a fifty-two week low of $28.60 and a fifty-two week high of $103.00. The stock’s fifty day moving average is $89.61 and its two-hundred day moving average is $74.87.

Rubrik (NYSE:RBRK) last announced its 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 firm had revenue of $278.48 million during the quarter, compared to analyst estimates of $260.39 million. The firm’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same period last year, the company earned ($1.58) earnings per share. As a group, sell-side analysts forecast that Rubrik, Inc. will post -7.66 EPS for the current year.

Rubrik 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.