Peregrine Asset Advisers Inc. Makes New Investment in Rubrik, Inc. (NYSE:RBRK)

Peregrine Asset Advisers Inc. acquired a new stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 52,509 shares of the company's stock, valued at approximately $3,202,000. Rubrik makes up 1.2% of Peregrine Asset Advisers Inc.'s investment portfolio, making the stock its 24th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Voloridge Investment Management LLC bought a new stake in shares of Rubrik in the 4th quarter valued at approximately $85,331,000. Green Alpha Advisors LLC grew its stake in shares of Rubrik by 53.4% in the 1st quarter. Green Alpha Advisors LLC now owns 8,114 shares of the company's stock valued at $495,000 after buying an additional 2,824 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Rubrik by 2,899.7% in the 4th quarter. BNP Paribas Financial Markets now owns 313,765 shares of the company's stock valued at $20,508,000 after buying an additional 303,305 shares in the last quarter. FMR LLC grew its stake in shares of Rubrik by 172.6% in the 4th quarter. FMR LLC now owns 3,261,925 shares of the company's stock valued at $213,199,000 after buying an additional 2,065,444 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Rubrik by 168.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 667,229 shares of the company's stock valued at $43,610,000 after buying an additional 418,457 shares in the last quarter. 49.54% of the stock is currently owned by institutional investors.

Rubrik Trading Down 3.1%

Shares of RBRK traded down $2.69 on Tuesday, reaching $83.84. 2,930,992 shares of the company's stock traded hands, compared to its average volume of 2,599,955. The stock has a market cap of $16.22 billion, a PE ratio of -29.63 and a beta of 0.46. The stock's 50 day simple moving average is $89.61 and its two-hundred day simple moving average is $74.93. Rubrik, Inc. has a 52-week low of $28.60 and a 52-week high of $103.00.

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

Insiders Place Their Bets

In other Rubrik news, CTO Arvind Nithrakashyap sold 43,128 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $88.56, for a total transaction of $3,819,415.68. Following the sale, the chief technology officer directly owned 38,122 shares in the company, valued at approximately $3,376,084.32. This trade represents a 53.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Enrique T. Salem sold 700,000 shares of the 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 disclosure for this sale can be found here. Insiders have sold 1,229,515 shares of company stock worth $109,999,877 in the last quarter. 32.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RBRK has been the subject of several recent analyst reports. Roth Capital increased their price objective on Rubrik from $97.00 to $107.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Piper Sandler dropped their price objective on Rubrik from $87.00 to $72.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Cantor Fitzgerald increased their price objective on Rubrik from $95.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. CIBC increased their price objective on Rubrik from $110.00 to $125.00 and gave the stock an "outperformer" rating in a research note on Monday, June 9th. Finally, Wall Street Zen upgraded Rubrik from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $100.38.

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.