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NewEdge Advisors LLC bought a new position in shares of Rubrik, Inc. (NYSE:RBRK – Free Report) in the 4th quarter, HoldingsChannel.com reports. The fund bought 950 shares of the company’s stock, valued at approximately $62,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in RBRK. Barclays PLC increased its position in Rubrik by 140.6% during the 3rd quarter. Barclays PLC now owns 12,029 shares of the company’s stock worth $386,000 after purchasing an additional 7,029 shares in the last quarter. Green Alpha Advisors LLC bought a new position in shares of Rubrik in the 4th quarter valued at $346,000. Hamilton Lane Advisors LLC grew its position in Rubrik by 3.0% during the 4th quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company’s stock worth $2,224,000 after acquiring an additional 980 shares during the last quarter. Wealthcare Advisory Partners LLC increased its holdings in Rubrik by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock worth $683,000 after purchasing an additional 300 shares in the last quarter. Finally, Shikiar Asset Management Inc. bought a new position in Rubrik in the fourth quarter valued at about $203,000. Institutional investors own 49.54% of the company’s stock.
Insider Buying and Selling at Rubrik
In related news, Director John Wendell Thompson sold 9,009 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $71.45, for a total transaction of $643,693.05. Following the transaction, the director now directly owns 998 shares of the company’s stock, valued at $71,307.10. This trade represents a 90.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $71.44, for a total transaction of $1,786,000.00. Following the completion of the sale, the executive now directly owns 554,217 shares of the company’s stock, valued at $39,593,262.48. The trade was a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 573,128 shares of company stock worth $38,238,360.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the company. Guggenheim upped their price objective on Rubrik from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Wells Fargo & Company increased their price objective on Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, March 14th. UBS Group reaffirmed a “buy” rating on shares of Rubrik in a report on Tuesday. Wedbush increased their price target on Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Finally, Robert W. Baird cut their price objective on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $68.83.
Check Out Our Latest Stock Report on RBRK
Rubrik Stock Up 3.1 %
Shares of NYSE:RBRK opened at $73.32 on Friday. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $80.00. The stock’s 50 day moving average is $63.23 and its 200-day moving average is $61.39. The firm has a market capitalization of $13.91 billion and a price-to-earnings ratio of -5.32.
Rubrik (NYSE:RBRK – Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The business had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $233.13 million. The company’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter last year, the business earned ($1.59) earnings per share. Equities research analysts anticipate that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal 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.
Further Reading
Want to see what other hedge funds are holding RBRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rubrik, Inc. (NYSE:RBRK – Free Report).
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