BNP Paribas Financial Markets Raises Stock Position in Rubrik, Inc. (NYSE:RBRK)

BNP Paribas Financial Markets raised its stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 2,899.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 313,765 shares of the company's stock after purchasing an additional 303,305 shares during the period. BNP Paribas Financial Markets owned 0.17% of Rubrik worth $20,508,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RBRK. Ameriprise Financial Inc. lifted its stake in Rubrik by 14.0% in the 4th quarter. Ameriprise Financial Inc. now owns 29,213 shares of the company's stock valued at $1,909,000 after buying an additional 3,593 shares in the last quarter. Algert Global LLC purchased a new position in shares of Rubrik in the fourth quarter valued at approximately $3,645,000. Alkeon Capital Management LLC acquired a new stake in shares of Rubrik in the fourth quarter worth approximately $32,680,000. Freestone Grove Partners LP purchased a new stake in shares of Rubrik during the fourth quarter worth approximately $6,318,000. Finally, Voleon Capital Management LP acquired a new position in Rubrik in the 4th quarter valued at $8,077,000. Institutional investors and hedge funds own 49.54% of the company's stock.

Rubrik Stock Up 0.4 %

Shares of Rubrik stock opened at $76.87 on Friday. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $80.00. The company has a market capitalization of $14.59 billion and a P/E ratio of -5.58. The company has a 50 day moving average of $64.44 and a 200 day moving average of $62.49.

Rubrik (NYSE:RBRK - Get Free Report) last issued its 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 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 period in the prior year, the firm posted ($1.59) EPS. As a group, research analysts anticipate that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Piper Sandler dropped their target price 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. UBS Group reiterated a "buy" rating on shares of Rubrik in a report on Tuesday, April 29th. Guggenheim upped their price target on Rubrik from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. BMO Capital Markets lifted their price objective on Rubrik from $72.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. Finally, Wedbush upped their target price on Rubrik from $75.00 to $80.00 and gave the company an "outperform" rating in a report on Friday, March 14th. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Rubrik has a consensus rating of "Buy" and an average target price of $68.83.

Insider Activity at Rubrik

In other news, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total transaction of $193,275.00. Following the sale, the director now owns 153 shares in the company, valued at approximately $11,828.43. The trade was a 94.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $75.20, for a total value of $2,442,796.80. Following the completion of the sale, the chief technology officer now directly owns 24,375 shares of the company's stock, valued at approximately $1,833,000. This trade represents a 57.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 546,117 shares of company stock valued at $36,491,888 over the last three months.

About Rubrik

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.

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