Harvard Management Co. Inc. Invests $8.06 Million in Rubrik, Inc. (NYSE:RBRK)

Key Points

• Harvard Management Co. Inc. acquired 132,111 shares of Rubrik, Inc. (NYSE:RBRK) valued at approximately $8 million, marking it as their 11th largest position.
• Insider trading activity shows significant sales, with Director Ravi Mhatre selling nearly 17,000 shares and Director Yvonne Wassenaar selling 2,000 shares, representing substantial decreases in their holdings.
• The stock has recently seen a rise in analyst ratings, with several firms raising their price targets, which now average around $100.38, indicating a positive outlook for Rubrik.

Harvard Management Co. Inc. acquired a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 132,111 shares of the company's stock, valued at approximately $8,056,000. Rubrik comprises approximately 0.7% of Harvard Management Co. Inc.'s investment portfolio, making the stock its 11th largest position. Harvard Management Co. Inc. owned approximately 0.07% of Rubrik at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RBRK. FMR LLC boosted its stake in shares of Rubrik by 172.6% during the fourth quarter. FMR LLC now owns 3,261,925 shares of the company's stock valued at $213,199,000 after purchasing an additional 2,065,444 shares during the period. Voloridge Investment Management LLC bought a new position in Rubrik in the fourth quarter worth about $85,331,000. Bank of America Corp DE boosted its stake in Rubrik by 1,305.1% in the fourth quarter. Bank of America Corp DE now owns 1,116,804 shares of the company's stock valued at $72,994,000 after acquiring an additional 1,037,319 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Rubrik in the 4th quarter worth $64,530,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Rubrik during the first quarter worth about $52,092,000. Hedge funds and other institutional investors own 49.54% of the company's stock.

Insider Buying and Selling at Rubrik

In other Rubrik news, CRO Brian K. Mccarthy sold 12,500 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $87.29, for a total value of $1,091,125.00. Following the sale, the executive owned 418,552 shares of the company's stock, valued at $36,535,404.08. This trade represents a 2.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kiran Kumar Choudary sold 3,500 shares of Rubrik stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $88.37, for a total value of $309,295.00. Following the completion of the transaction, the chief financial officer owned 518,595 shares of the company's stock, valued at $45,828,240.15. The trade was a 0.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,128,547 shares of company stock valued at $103,010,329. Insiders own 32.38% of the company's stock.

Rubrik Price Performance

Shares of NYSE:RBRK traded down $1.90 during midday trading on Thursday, reaching $89.87. 3,988,294 shares of the company's stock were exchanged, compared to its average volume of 3,341,309. The firm's 50 day simple moving average is $89.65 and its two-hundred day simple moving average is $77.02. Rubrik, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $103.00. The stock has a market cap of $17.39 billion, a price-to-earnings ratio of -31.76 and a beta of 0.45.

Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.17. The firm had revenue of $278.48 million for the quarter, compared to analysts' expectations of $260.39 million. The company's quarterly revenue was up 48.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.58) earnings per share. Equities research analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald raised their target price on Rubrik from $95.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Oppenheimer reaffirmed a "market perform" rating on shares of Rubrik in a report on Friday, June 6th. Guggenheim upped their target price on Rubrik from $105.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Roth Capital raised their price target on shares of Rubrik from $97.00 to $107.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Wedbush lifted their target price on shares of Rubrik from $80.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Rubrik currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.38.

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.