Rubrik, Inc. $RBRK Shares Acquired by ARK Investment Management LLC

ARK Investment Management LLC lifted its position in shares of Rubrik, Inc. (NYSE:RBRK) by 21.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 319,112 shares of the company’s stock after buying an additional 55,500 shares during the period. ARK Investment Management LLC owned 0.16% of Rubrik worth $26,247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of Rubrik by 1,030.8% during the 2nd quarter. Allworth Financial LP now owns 294 shares of the company’s stock worth $26,000 after purchasing an additional 268 shares during the period. Bogart Wealth LLC lifted its position in Rubrik by 352.2% during the third quarter. Bogart Wealth LLC now owns 312 shares of the company’s stock worth $26,000 after buying an additional 243 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Rubrik by 1,360.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $30,000 after buying an additional 340 shares during the last quarter. Guerra Advisors Inc purchased a new stake in Rubrik in the 3rd quarter valued at about $33,000. Finally, Comerica Bank increased its stake in shares of Rubrik by 209.0% during the 1st quarter. Comerica Bank now owns 584 shares of the company’s stock valued at $36,000 after acquiring an additional 395 shares during the last quarter. 49.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RBRK has been the topic of several research analyst reports. Robert W. Baird raised their target price on shares of Rubrik from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Rosenblatt Securities increased their price target on shares of Rubrik from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Guggenheim set a $110.00 price target on shares of Rubrik in a report on Friday, December 5th. Truist Financial dropped their price objective on Rubrik from $110.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rubrik in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Rubrik has a consensus rating of “Moderate Buy” and a consensus price target of $102.11.

Insider Buying and Selling

In other Rubrik news, insider Brian K. Mccarthy sold 10,000 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $70.88, for a total value of $708,800.00. Following the completion of the sale, the insider owned 330,772 shares of the company’s stock, valued at $23,445,119.36. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Wendell Thompson sold 2,500 shares of Rubrik stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $53.55, for a total transaction of $133,875.00. Following the sale, the director owned 22,500 shares in the company, valued at $1,204,875. This represents a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 261,378 shares of company stock worth $19,381,131 over the last three months. 32.38% of the stock is currently owned by corporate insiders.

Rubrik Stock Up 1.7%

Rubrik stock opened at $54.80 on Thursday. The firm has a fifty day moving average of $62.13 and a 200-day moving average of $73.23. Rubrik, Inc. has a 52-week low of $46.36 and a 52-week high of $103.00. The firm has a market capitalization of $10.97 billion, a P/E ratio of -28.10 and a beta of 0.45.

Rubrik (NYSE:RBRK) last announced its quarterly earnings results on Thursday, December 4th. The company reported $0.10 earnings per share 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 analysts’ expectations of $320.19 million. During the same period last year, the company posted ($0.21) earnings per share. The firm’s revenue for the quarter was up 48.3% on a year-over-year basis. On average, research analysts expect that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Rubrik Company Profile

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).