Aigen Investment Management LP Boosts Position in Rubrik, Inc. (NYSE:RBRK)

Key Points

• Aigen Investment Management LP significantly increased its holdings in Rubrik, Inc. by 238.6% during the 1st quarter, now owning shares worth $807,000.
• Rubrik reported better-than-expected earnings for the quarter ended June 5th, with an earnings per share (EPS) of ($0.15), exceeding estimates, alongside a revenue growth of 48.7% year-over-year.
• Several analysts upgraded Rubrik's stock rating, with Guggenheim raising their price target to $108.00 and a consensus of 16 buy ratings reflecting positive market sentiment.

Aigen Investment Management LP grew its stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 238.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,236 shares of the company's stock after acquiring an additional 9,327 shares during the quarter. Aigen Investment Management LP's holdings in Rubrik were worth $807,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new position in Rubrik during the 4th quarter worth $28,000. PNC Financial Services Group Inc. bought a new stake in Rubrik during the 1st quarter valued at approximately $30,000. Point72 Hong Kong Ltd bought a new position in shares of Rubrik during the 4th quarter worth approximately $47,000. Quarry LP bought a new position in Rubrik during the fourth quarter worth about $48,000. Finally, CoreCap Advisors LLC acquired a new position in shares of Rubrik in the fourth quarter valued at approximately $59,000. 49.54% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $100.18, for a total transaction of $2,504,500.00. Following the sale, the executive directly owned 454,584 shares of the company's stock, valued at approximately $45,540,225.12. This trade represents a 5.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kiran Kumar Choudary sold 30,000 shares of the business'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 transaction, the chief financial officer owned 521,665 shares of the company's stock, 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. Insiders have sold 1,080,047 shares of company stock valued at $99,115,944 over the last three months. Insiders own 32.38% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Rosenblatt Securities boosted their price target on shares of Rubrik from $82.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, June 6th. KeyCorp restated an "overweight" rating and set a $113.00 price objective (up from $98.00) on shares of Rubrik in a research report on Friday, June 6th. BMO Capital Markets reissued an "outperform" rating and issued a $110.00 price objective (up from $77.00) on shares of Rubrik in a research note on Friday, June 6th. Wedbush boosted their price objective on shares of Rubrik from $80.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Finally, Mizuho downgraded shares of Rubrik from an "outperform" rating to a "neutral" rating and increased their target price for the stock from $75.00 to $86.00 in a research report on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $100.38.

Rubrik Trading Down 4.0%

Shares of RBRK stock traded down $3.53 on Thursday, reaching $84.55. The company had a trading volume of 2,236,015 shares, compared to its average volume of 3,026,603. The company has a 50-day moving average of $88.80 and a 200-day moving average of $77.47. Rubrik, Inc. has a 12 month low of $29.18 and a 12 month high of $103.00. The stock has a market cap of $16.36 billion, a PE ratio of -29.88 and a beta of 0.45.

Rubrik (NYSE:RBRK - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) EPS for the quarter, beating analysts' consensus estimates of ($0.32) by $0.17. The firm had revenue of $278.48 million for the quarter, compared to analyst estimates of $260.39 million. The business'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 business posted ($1.58) earnings per share. Sell-side analysts anticipate that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Rubrik Company 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.