Scientech Research LLC Invests $1.24 Million in Rubrik, Inc. (NYSE:RBRK)

Scientech Research LLC acquired a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,905 shares of the company's stock, valued at approximately $1,236,000.

A number of other hedge funds have also made changes to their positions in RBRK. Point72 Hong Kong Ltd purchased a new position in Rubrik during the fourth quarter worth $47,000. PointState Capital LP boosted its stake in Rubrik by 21.1% in the fourth quarter. PointState Capital LP now owns 1,523,808 shares of the company's stock valued at $99,596,000 after acquiring an additional 265,152 shares during the period. ProShare Advisors LLC acquired a new position in Rubrik in the fourth quarter valued at approximately $398,000. OMERS ADMINISTRATION Corp boosted its stake in Rubrik by 29.8% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 14,800 shares of the company's stock valued at $967,000 after acquiring an additional 3,400 shares during the period. Finally, Occudo Quantitative Strategies LP bought a new stake in Rubrik during the fourth quarter worth approximately $1,307,000. Hedge funds and other institutional investors own 49.54% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. KeyCorp lowered their price target on shares of Rubrik from $82.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. UBS Group reaffirmed a "buy" rating on shares of Rubrik in a research report on Tuesday, April 29th. Wedbush increased their price target on shares of Rubrik from $75.00 to $80.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. Robert W. Baird dropped their price objective on shares of Rubrik from $83.00 to $76.00 and set an "outperform" rating for the company in a report on Wednesday, March 12th. Finally, Rosenblatt Securities raised shares of Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 price target for the company in a report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $71.05.

Rubrik Stock Up 2.6%

RBRK traded up $2.27 during trading on Tuesday, reaching $88.99. The stock had a trading volume of 2,152,691 shares, compared to its average volume of 2,042,877. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $89.13. The stock has a 50 day moving average of $68.33 and a two-hundred day moving average of $64.79. The firm has a market capitalization of $16.89 billion and a price-to-earnings ratio of -6.46.

Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) 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 the consensus estimate of $233.13 million. During the same period last year, the business earned ($1.59) EPS. Rubrik's revenue for the quarter was up 47.5% on a year-over-year basis. On average, research analysts forecast that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $80.01, for a total transaction of $2,000,250.00. Following the completion of the transaction, the executive now directly owns 529,584 shares in the company, valued at $42,372,015.84. This represents a 4.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kiran Kumar Choudary sold 87,971 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $70.04, for a total transaction of $6,161,488.84. Following the transaction, the chief financial officer now directly owns 413,458 shares in the company, valued at approximately $28,958,598.32. This represents a 17.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 592,117 shares of company stock worth $40,192,998.

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.