Harvard Management Co. Inc. Takes Position 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. bought a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 132,111 shares of the company's stock, valued at approximately $8,056,000. Rubrik accounts for 0.7% of Harvard Management Co. Inc.'s holdings, making the stock its 11th largest holding. Harvard Management Co. Inc. owned 0.07% of Rubrik at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RBRK. Vanguard Group Inc. boosted its stake in Rubrik by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 6,945,101 shares of the company's stock valued at $423,512,000 after purchasing an additional 616,917 shares during the last quarter. FMR LLC boosted its stake in Rubrik by 172.6% during the 4th 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 last quarter. First Trust Advisors LP boosted its stake in Rubrik by 26.6% during the 4th quarter. First Trust Advisors LP now owns 3,156,035 shares of the company's stock valued at $206,278,000 after purchasing an additional 662,914 shares during the last quarter. PointState Capital LP boosted its stake in shares of Rubrik by 21.1% in the 4th quarter. PointState Capital LP now owns 1,523,808 shares of the company's stock worth $99,596,000 after buying an additional 265,152 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in shares of Rubrik in the 4th quarter worth approximately $85,331,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RBRK has been the topic of a number of research analyst reports. Roth Capital boosted their target price on Rubrik from $97.00 to $107.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Wall Street Zen upgraded Rubrik from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Truist Financial boosted their target price on Rubrik from $90.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Wedbush boosted their target price on Rubrik from $80.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Finally, KeyCorp restated an "overweight" rating and issued a $113.00 target price (up previously from $98.00) on shares of Rubrik in a research note on Friday, June 6th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $100.38.

Insider Activity

In other news, Director Enrique T. Salem sold 700,000 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $91.09, for a total value of $63,763,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kiran Kumar Choudary sold 30,000 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $100.24, for a total transaction of $3,007,200.00. Following the completion of the transaction, the chief financial officer directly owned 521,665 shares in the company, valued at approximately $52,291,699.60. The trade was a 5.44% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,128,547 shares of company stock worth $103,010,329. Company insiders own 32.38% of the company's stock.

Rubrik Stock Performance

RBRK stock traded down $2.35 during midday trading on Friday, reaching $87.39. 1,898,417 shares of the company's stock traded hands, compared to its average volume of 3,279,541. The firm has a market capitalization of $16.91 billion, a PE ratio of -30.88 and a beta of 0.45. Rubrik, Inc. has a 52 week low of $29.18 and a 52 week high of $103.00. The company has a 50-day moving average price of $89.49 and a two-hundred day moving average price of $77.17.

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

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.