Rubrik (NYSE:RBRK) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Key Points

• Rubrik beat earnings expectations, reporting quarterly EPS of $0.20 versus the consensus estimate of $0.04, a $0.16 upside surprise.
• Shares rose 11.5% to $107.17, near their 52-week high, while analysts maintained a broadly positive outlook: 29 rate the stock Buy and the average price target is $104.56.
• Insiders sold $27.4 million worth of shares over the past three months under pre-arranged trading plans, while institutional investors increased holdings and collectively own 49.54% of Rubrik.

Rubrik (NYSE:RBRK - Get Free Report) released its earnings results on Thursday. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.16, FiscalAI reports.

Rubrik Trading Up 11.5%

Shares of Rubrik stock traded up $11.04 during trading hours on Thursday, reaching $107.17. The stock had a trading volume of 6,362,975 shares, compared to its average volume of 3,718,705. The stock's 50 day moving average is $83.75 and its 200 day moving average is $66.85. The firm has a market capitalization of $22.06 billion, a PE ratio of -73.91 and a beta of 1.17. Rubrik has a twelve month low of $42.25 and a twelve month high of $107.91.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Guggenheim reissued a "buy" rating on shares of Rubrik in a research report on Monday. Scotiabank reaffirmed an "outperform" rating on shares of Rubrik in a report on Tuesday. Robert W. Baird increased their price objective on shares of Rubrik from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, June 11th. BTIG Research restated a "buy" rating and set a $91.00 target price on shares of Rubrik in a research report on Thursday, June 11th. Finally, Mizuho upped their price target on shares of Rubrik from $90.00 to $112.00 and gave the company an "outperform" rating in a report on Wednesday, August 19th. Twenty-nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $104.56.

Insider Activity

In other Rubrik news, CTO Arvind Nithrakashyap sold 12,820 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $83.71, for a total transaction of $1,073,162.20. Following the transaction, the chief technology officer owned 293,293 shares in the company, valued at approximately $24,551,557.03. This represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kiran Kumar Choudary sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $98.32, for a total value of $983,200.00. Following the completion of the sale, the chief financial officer directly owned 978,073 shares in the company, valued at approximately $96,164,137.36. The trade was a 1.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 327,682 shares of company stock worth $27,385,376. 13.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RBRK. First Trust Advisors LP increased its holdings in Rubrik by 42.8% in the 4th quarter. First Trust Advisors LP now owns 7,064,057 shares of the company's stock worth $540,259,000 after acquiring an additional 2,116,272 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Rubrik by 0.5% during the fourth quarter. Federated Hermes Inc. now owns 2,449,646 shares of the company's stock valued at $187,349,000 after purchasing an additional 11,878 shares in the last quarter. State Street Corp grew its position in shares of Rubrik by 13.2% in the fourth quarter. State Street Corp now owns 2,356,918 shares of the company's stock valued at $180,257,000 after purchasing an additional 274,132 shares during the period. PointState Capital LP increased its stake in shares of Rubrik by 23.4% during the fourth quarter. PointState Capital LP now owns 2,100,000 shares of the company's stock worth $160,608,000 after purchasing an additional 397,653 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Rubrik by 7.0% during the second quarter. Bank of America Corp DE now owns 2,073,044 shares of the company's stock worth $185,724,000 after purchasing an additional 136,262 shares in the last quarter. Hedge funds and other institutional investors own 49.54% of the company's stock.

About Rubrik

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company's platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).

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