Alkeon Capital Management LLC Invests $32.68 Million in Rubrik, Inc. (NYSE:RBRK)

Alkeon Capital Management LLC acquired a new position in Rubrik, Inc. (NYSE:RBRK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 500,000 shares of the company's stock, valued at approximately $32,680,000. Alkeon Capital Management LLC owned approximately 0.27% of Rubrik at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC increased its stake 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 buying an additional 7,029 shares in the last quarter. Green Alpha Advisors LLC acquired a new stake in shares of Rubrik in the fourth quarter worth approximately $346,000. Hamilton Lane Advisors LLC increased its position in shares of Rubrik by 3.0% during the fourth quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company's stock worth $2,224,000 after purchasing an additional 980 shares in the last quarter. Wealthcare Advisory Partners LLC raised its stake in Rubrik by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company's stock valued at $683,000 after purchasing an additional 300 shares during the last quarter. Finally, Shikiar Asset Management Inc. acquired a new position in Rubrik in the 4th quarter valued at $203,000. Institutional investors and hedge funds own 49.54% of the company's stock.

Rubrik Stock Performance

Shares of Rubrik stock traded up $1.17 during trading on Monday, hitting $74.50. 3,931,235 shares of the stock traded hands, compared to its average volume of 1,977,690. The company has a fifty day moving average price of $63.41 and a two-hundred day moving average price of $61.78. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $80.00. The stock has a market cap of $14.14 billion and a P/E ratio of -5.41.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. William Blair began coverage on Rubrik in a report on Friday, February 7th. They issued a "market perform" rating for the company. BMO Capital Markets upped their price objective on shares of Rubrik from $72.00 to $77.00 and gave the company an "outperform" rating in a report on Friday, March 14th. Wells Fargo & Company lifted their target price on shares of Rubrik from $76.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. Guggenheim boosted their target price on shares of Rubrik from $76.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Finally, Piper Sandler cut their price target on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Rubrik presently has an average rating of "Buy" and an average price target of $68.83.

Insiders Place Their Bets

In related news, Director John Wendell Thompson sold 9,009 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $60.19, for a total value of $542,251.71. Following the completion of the transaction, the director now owns 998 shares of the company's stock, valued at $60,069.62. This represents a 90.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,485 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $74.85, for a total value of $2,431,502.25. Following the transaction, the chief technology officer now owns 219,279 shares of the company's stock, valued at $16,413,033.15. This trade represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 506,634 shares of company stock valued at $33,523,839 in the last three months.

Rubrik Company 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.