First Trust Advisors LP Acquires 485,080 Shares of Rubrik, Inc. $RBRK

First Trust Advisors LP increased its holdings in shares of Rubrik, Inc. (NYSE:RBRK) by 10.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,947,785 shares of the company’s stock after purchasing an additional 485,080 shares during the period. First Trust Advisors LP owned approximately 2.51% of Rubrik worth $406,955,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBRK. Neuberger Berman Group LLC increased its position in Rubrik by 1,669.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 589,208 shares of the company’s stock worth $48,462,000 after buying an additional 555,900 shares during the period. Barclays PLC boosted its position in shares of Rubrik by 660.3% in the third quarter. Barclays PLC now owns 346,262 shares of the company’s stock valued at $28,480,000 after acquiring an additional 300,718 shares during the period. NewSquare Capital LLC acquired a new stake in shares of Rubrik in the third quarter worth $6,418,000. ARK Investment Management LLC grew its stake in shares of Rubrik by 21.1% in the third quarter. ARK Investment Management LLC now owns 319,112 shares of the company’s stock worth $26,247,000 after acquiring an additional 55,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Rubrik by 405.3% during the third quarter. Dimensional Fund Advisors LP now owns 102,462 shares of the company’s stock worth $8,436,000 after acquiring an additional 82,185 shares during the period. Institutional investors and hedge funds own 49.54% of the company’s stock.

Insiders Place Their Bets

In other Rubrik news, CTO Arvind Nithrakashyap sold 31,450 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $76.19, for a total value of $2,396,175.50. Following the sale, the chief technology officer directly owned 342,703 shares in the company, valued at $26,110,541.57. This represents a 8.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ravi Mhatre sold 101,659 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $81.82, for a total value of $8,317,739.38. The SEC filing for this sale provides additional information. Insiders sold a total of 261,378 shares of company stock worth $19,381,131 in the last 90 days. 32.38% of the stock is owned by corporate insiders.

Rubrik Stock Up 2.6%

NYSE RBRK opened at $57.36 on Friday. Rubrik, Inc. has a twelve month low of $46.36 and a twelve month high of $103.00. The stock has a market cap of $11.48 billion, a P/E ratio of -29.42 and a beta of 0.45. The company’s 50-day simple moving average is $61.25 and its 200 day simple moving average is $72.92.

Rubrik (NYSE:RBRK) last announced its quarterly earnings results on Thursday, December 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.26. The business had revenue of $350.17 million for the quarter, compared to the consensus estimate of $320.19 million. The firm’s revenue for the quarter was up 48.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.21) EPS. Research analysts anticipate that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on RBRK. Wedbush reiterated an “outperform” rating and set a $120.00 target price on shares of Rubrik in a research note on Friday, December 5th. Rosenblatt Securities boosted their price objective on shares of Rubrik from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, December 5th. The Goldman Sachs Group cut their price objective on shares of Rubrik from $120.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Truist Financial reduced their target price on shares of Rubrik from $110.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Finally, Guggenheim set a $110.00 target price on Rubrik in a research report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.05.

About Rubrik

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company’s platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).