Altimeter Capital Management LP Trims Stake in Rubrik, Inc. (NYSE:RBRK)

Altimeter Capital Management LP decreased its position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 0.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,642,098 shares of the company's stock after selling 6,500 shares during the period. Rubrik comprises about 1.9% of Altimeter Capital Management LP's holdings, making the stock its 11th largest holding. Altimeter Capital Management LP owned about 0.89% of Rubrik worth $107,328,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RBRK. Russell Investments Group Ltd. purchased a new stake in shares of Rubrik in the 4th quarter worth approximately $28,000. Global Retirement Partners LLC increased its holdings in shares of Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock valued at $33,000 after acquiring an additional 500 shares in the last quarter. Nemes Rush Group LLC purchased a new position in shares of Rubrik in the 4th quarter worth about $39,000. Quarry LP bought a new position in Rubrik in the 4th quarter worth about $48,000. Finally, NewEdge Advisors LLC purchased a new stake in Rubrik during the 4th quarter valued at about $62,000. Institutional investors own 49.54% of the company's stock.

Analyst Ratings Changes

RBRK has been the topic of several analyst reports. BMO Capital Markets upped their target price on shares of Rubrik from $72.00 to $77.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Robert W. Baird cut their target price on Rubrik from $83.00 to $76.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. Wells Fargo & Company boosted their price target on Rubrik from $76.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. William Blair initiated coverage on Rubrik in a research report on Friday, February 7th. They set a "market perform" rating on the stock. Finally, Citigroup boosted their target price on Rubrik from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Rubrik presently has a consensus rating of "Buy" and an average price target of $68.83.

Insider Buying and Selling

In other news, CTO Arvind Nithrakashyap sold 32,484 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $52.04, for a total transaction of $1,690,467.36. Following the completion of the transaction, the chief technology officer now directly owns 186,795 shares in the company, valued at approximately $9,720,811.80. This represents a 14.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kiran Kumar Choudary sold 87,971 shares of the stock in a transaction on Friday, March 21st. The shares were 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 owns 413,458 shares of the company's stock, valued at $28,958,598.32. This trade represents a 17.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 506,634 shares of company stock worth $33,523,839.

Rubrik Trading Down 0.6 %

Rubrik stock traded down $0.43 during mid-day trading on Tuesday, hitting $74.24. The stock had a trading volume of 2,186,350 shares, compared to its average volume of 1,981,566. The firm's 50 day moving average is $63.61 and its 200 day moving average is $61.87. The firm has a market capitalization of $14.09 billion and a P/E ratio of -5.39. Rubrik, Inc. has a one year low of $28.34 and a one year high of $80.00.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. During the same quarter in the previous year, the company posted ($1.59) earnings per share. The company's quarterly revenue was up 47.5% compared to the same quarter last year. As a group, equities research analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current 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.