New York State Common Retirement Fund Makes New Investment in Rubrik, Inc. (NYSE:RBRK)

New York State Common Retirement Fund acquired a new stake in Rubrik, Inc. (NYSE:RBRK) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 93,997 shares of the company’s stock, valued at approximately $5,732,000.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Rubrik by 114.1% during the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after acquiring an additional 3,372,323 shares during the last quarter. Norges Bank bought a new position in shares of Rubrik during the fourth quarter worth about $277,395,000. FMR LLC lifted its position in shares of Rubrik by 172.6% during the fourth quarter. FMR LLC now owns 3,261,925 shares of the company’s stock worth $213,199,000 after purchasing an additional 2,065,444 shares during the last quarter. First Trust Advisors LP grew its stake in Rubrik by 26.6% in the fourth quarter. First Trust Advisors LP now owns 3,156,035 shares of the company’s stock worth $206,278,000 after purchasing an additional 662,914 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Rubrik by 27.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock valued at $129,359,000 after buying an additional 427,149 shares during the last quarter. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Rubrik

In other news, Director Yvonne Wassenaar sold 2,000 shares of the company’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $88.21, for a total value of $176,420.00. Following the transaction, the director directly owned 2,855 shares of the company’s stock, valued at approximately $251,839.55. This represents a 41.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $85.97, for a total value of $2,149,250.00. Following the sale, the executive directly owned 431,052 shares of the company’s stock, valued at approximately $37,057,540.44. The trade was a 5.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,229,515 shares of company stock valued at $109,999,877 in the last 90 days. Corporate insiders own 32.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Guggenheim lifted their price target on shares of Rubrik from $105.00 to $108.00 and gave the company a “buy” rating in a report on Friday, June 6th. Rosenblatt Securities boosted their price target on shares of Rubrik from $82.00 to $110.00 and gave the company a “buy” rating in a report on Friday, June 6th. Wedbush increased their price objective on shares of Rubrik from $80.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, June 12th. CIBC boosted their target price on shares of Rubrik from $110.00 to $125.00 and gave the company an “outperformer” rating in a research note on Monday, June 9th. Finally, Mizuho lowered shares of Rubrik from an “outperform” rating to a “neutral” rating and raised their price target for the company from $75.00 to $86.00 in a research note on Thursday, May 15th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

Rubrik Stock Performance

Shares of NYSE:RBRK opened at $88.02 on Monday. Rubrik, Inc. has a 52 week low of $28.60 and a 52 week high of $103.00. The company has a market cap of $17.03 billion, a PE ratio of -31.10 and a beta of 0.46. The firm has a 50 day simple moving average of $89.61 and a 200 day simple moving average of $74.93.

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