Bank of America Corp DE Purchases 1,037,319 Shares of Rubrik, Inc. (NYSE:RBRK)

Bank of America Corp DE raised its stake in Rubrik, Inc. (NYSE:RBRK - Free Report) by 1,305.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,116,804 shares of the company's stock after buying an additional 1,037,319 shares during the period. Bank of America Corp DE owned approximately 0.60% of Rubrik worth $72,994,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of RBRK. Barclays PLC lifted its position in shares of Rubrik by 140.6% in the 3rd quarter. Barclays PLC now owns 12,029 shares of the company's stock valued at $386,000 after acquiring an additional 7,029 shares in the last quarter. Green Alpha Advisors LLC acquired a new stake in Rubrik during the 4th quarter valued at $346,000. Hamilton Lane Advisors LLC lifted its holdings in shares of Rubrik by 3.0% in the fourth quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company's stock valued at $2,224,000 after purchasing an additional 980 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its position in shares of Rubrik by 3.0% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company's stock worth $683,000 after buying an additional 300 shares during the period. Finally, Shikiar Asset Management Inc. acquired a new stake in shares of Rubrik in the fourth quarter worth $203,000. Institutional investors and hedge funds own 49.54% of the company's stock.

Insider Buying and Selling at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 3,500 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.81, for a total value of $293,335.00. Following the completion of the sale, the chief financial officer now directly owns 565,165 shares of the company's stock, valued at $47,366,478.65. This represents a 0.62% decrease in their position. The sale 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 business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $80.01, for a total transaction of $2,000,250.00. Following the transaction, the executive now owns 529,584 shares in the company, valued at approximately $42,372,015.84. The trade was a 4.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 594,617 shares of company stock valued at $40,386,273 in the last 90 days.

Analysts Set New Price Targets

RBRK has been the subject of a number of research reports. Guggenheim raised their price objective on Rubrik from $76.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. 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 research report on Wednesday, March 12th. Roth Capital initiated coverage on shares of Rubrik in a research report on Thursday. They set a "buy" rating and a $97.00 price objective on the stock. UBS Group reiterated a "buy" rating on shares of Rubrik in a research note on Tuesday, April 29th. Finally, Piper Sandler decreased their target price on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $71.05.

Rubrik Price Performance

NYSE:RBRK traded down $0.12 during midday trading on Friday, reaching $85.40. The stock had a trading volume of 1,706,060 shares, compared to its average volume of 2,028,712. The stock has a market capitalization of $16.21 billion and a P/E ratio of -6.20. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $87.53. The firm's fifty day simple moving average is $66.44 and its 200-day simple moving average is $63.70.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The firm had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. During the same quarter in the prior year, the company posted ($1.59) earnings per share. The business's revenue was up 47.5% compared to the same quarter last year. On average, 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.