Bank of Nova Scotia Has $35.59 Million Stake in Rubrik, Inc. $RBRK

Bank of Nova Scotia reduced its stake in shares of Rubrik, Inc. (NYSE:RBRK) by 1.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 726,670 shares of the company’s stock after selling 10,930 shares during the period. Bank of Nova Scotia owned about 0.36% of Rubrik worth $35,585,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of RBRK. Pictet Asset Management Holding SA lifted its position in shares of Rubrik by 104.1% during the first quarter. Pictet Asset Management Holding SA now owns 3,325,503 shares of the company’s stock valued at $162,572,000 after purchasing an additional 1,696,342 shares in the last quarter. Norges Bank bought a new stake in Rubrik in the 4th quarter worth about $345,907,000. Legal & General Group Plc increased its stake in Rubrik by 8.6% in the 4th quarter. Legal & General Group Plc now owns 1,904,810 shares of the company’s stock valued at $145,680,000 after buying an additional 151,234 shares during the last quarter. Stephens Investment Management Group LLC lifted its position in shares of Rubrik by 47.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 595,851 shares of the company’s stock worth $45,571,000 after buying an additional 191,738 shares in the last quarter. Finally, Washington University bought a new position in shares of Rubrik during the 4th quarter worth approximately $3,861,000. Institutional investors own 49.54% of the company’s stock.

Rubrik Stock Performance

NYSE:RBRK opened at $73.17 on Friday. Rubrik, Inc. has a fifty-two week low of $42.25 and a fifty-two week high of $99.75. The firm has a market cap of $15.06 billion, a PE ratio of -50.46 and a beta of 1.10. The business has a 50 day moving average price of $75.22 and a 200-day moving average price of $62.84.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Thursday, June 4th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.19. The firm had revenue of $387.07 million for the quarter, compared to the consensus estimate of $366.31 million. The company’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.15) earnings per share. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. Research analysts predict that Rubrik, Inc. will post -1.16 EPS for the current year.

Insider Activity

In other news, Director Ravi Mhatre sold 3,979 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $71.49, for a total transaction of $284,458.71. Following the completion of the transaction, the director directly owned 113,477 shares of the company’s stock, valued at approximately $8,112,470.73. This represents a 3.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Arvind Nithrakashyap sold 199,447 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $84.28, for a total transaction of $16,809,393.16. Following the sale, the chief technology officer owned 314,048 shares of the company’s stock, valued at approximately $26,467,965.44. This represents a 38.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 291,321 shares of company stock worth $24,074,426 over the last ninety days. 13.66% of the stock is owned by insiders.

Analysts Set New Price Targets

RBRK has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $90.00 target price on shares of Rubrik in a report on Monday, June 1st. Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of Rubrik in a research report on Thursday, June 11th. Citigroup upped their price objective on Rubrik from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rubrik in a research report on Friday, June 26th. Finally, Wolfe Research reiterated an “outperform” rating and set a $95.00 target price on shares of Rubrik in a research note on Friday, June 5th. Twenty-eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.96.

Rubrik 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).