Algert Global LLC Acquires 44,226 Shares of Rubrik, Inc. $RBRK

Key Points

• Algert Global LLC increased its stake in Rubrik, Inc. by 79.3% in Q1, acquiring an additional 44,226 shares and bringing its total ownership to approximately 100,000 shares valued at $6,098,000.
• Investment analysts have shown strong confidence in Rubrik, with multiple firms raising their price targets to $110, reflecting a consensus rating of "Moderate Buy".
• In the last three months, insiders sold over 1 million shares of Rubrik stock, totaling nearly $99.12 million in value, representing 32.38% of the company's ownership by insiders.

Algert Global LLC raised its holdings in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 79.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,000 shares of the company's stock after acquiring an additional 44,226 shares during the quarter. Algert Global LLC owned approximately 0.05% of Rubrik worth $6,098,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its holdings in shares of Rubrik by 21.4% in the 4th quarter. Wells Fargo & Company MN now owns 85,829 shares of the company's stock valued at $5,610,000 after buying an additional 15,106 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Rubrik in the 4th quarter valued at approximately $28,000. Cerity Partners LLC acquired a new stake in shares of Rubrik in the 4th quarter valued at approximately $209,000. Barclays PLC boosted its holdings in shares of Rubrik by 157.6% in the 4th quarter. Barclays PLC now owns 30,986 shares of the company's stock valued at $2,025,000 after buying an additional 18,957 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in shares of Rubrik in the 4th quarter valued at approximately $62,000. 49.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RBRK. Truist Financial increased their price objective on Rubrik from $90.00 to $110.00 and gave the company a "buy" rating in a report on Friday, June 6th. Rosenblatt Securities increased their price objective on Rubrik from $82.00 to $110.00 and gave the company a "buy" rating in a report on Friday, June 6th. Roth Capital increased their price objective on Rubrik from $97.00 to $107.00 and gave the company a "buy" rating in a report on Friday, June 6th. BMO Capital Markets reaffirmed an "outperform" rating and set a $110.00 price target (up previously from $77.00) on shares of Rubrik in a report on Friday, June 6th. Finally, UBS Group reaffirmed a "buy" rating on shares of Rubrik in a report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Rubrik has an average rating of "Moderate Buy" and a consensus price target of $100.38.

Rubrik Stock Performance

NYSE:RBRK opened at $85.76 on Monday. Rubrik, Inc. has a 52 week low of $29.18 and a 52 week high of $103.00. The firm has a market cap of $16.59 billion, a price-to-earnings ratio of -30.30 and a beta of 0.45. The firm's 50-day simple moving average is $88.28 and its 200 day simple moving average is $77.72.

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 analysts' consensus estimates of ($0.32) by $0.17. The business had revenue of $278.48 million for the quarter, compared to the consensus estimate of $260.39 million. During the same period in the prior year, the business posted ($1.58) earnings per share. Rubrik's revenue was up 48.7% compared to the same quarter last year. Sell-side analysts anticipate that Rubrik, Inc. will post -7.66 EPS for the current year.

Insider Buying and Selling at Rubrik

In related news, CFO Kiran Kumar Choudary sold 30,000 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $100.24, for a total transaction of $3,007,200.00. Following the transaction, the chief financial officer directly owned 521,665 shares of the company's stock, valued at approximately $52,291,699.60. This trade represents a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Enrique T. Salem sold 700,000 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $91.09, for a total transaction of $63,763,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,080,047 shares of company stock valued at $99,115,944 in the last three months. 32.38% of the stock is owned by insiders.

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.

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