Rubrik, Inc. $RBRK Shares Purchased by Alkeon Capital Management LLC

Key Points

• Alkeon Capital Management increased its stake in Rubrik, Inc. (NYSE:RBRK) by 40% during the first quarter, holding 700,000 shares valued at approximately $42.7 million.
• Institutional investors now own 49.54% of Rubrik's stock, with notable stakes being raised by PDT Partners and Royal Bank of Canada, among others.
• Rubrik reported a quarterly revenue of $278.48 million, surpassing analyst expectations, and has set FY 2026 guidance for EPS between -1.020 to -0.960.

Alkeon Capital Management LLC grew its holdings in Rubrik, Inc. (NYSE:RBRK - Free Report) by 40.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 700,000 shares of the company's stock after buying an additional 200,000 shares during the quarter. Alkeon Capital Management LLC owned 0.37% of Rubrik worth $42,686,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RBRK. Voloridge Investment Management LLC purchased a new stake in shares of Rubrik in the fourth quarter valued at approximately $85,331,000. Bank of America Corp DE increased its position in shares of 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 buying an additional 1,037,319 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Rubrik in the first quarter valued at approximately $52,092,000. Two Sigma Investments LP increased its position in shares of Rubrik by 4,440.9% in the fourth quarter. Two Sigma Investments LP now owns 649,349 shares of the company's stock valued at $42,441,000 after buying an additional 635,049 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Rubrik by 9.7% in the first quarter. Vanguard Group Inc. now owns 6,945,101 shares of the company's stock valued at $423,512,000 after buying an additional 616,917 shares in the last quarter. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Lightspeed Management Company, sold 16,984 shares of the company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $89.47, for a total value of $1,519,558.48. Following the transaction, the insider owned 59,182 shares of the company's stock, valued at $5,295,013.54. This represents a 22.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 914,086 shares of company stock worth $82,614,503. Corporate insiders own 32.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RBRK. Truist Financial boosted their price objective on Rubrik from $90.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Wells Fargo & Company boosted their price objective on Rubrik from $80.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. BMO Capital Markets reiterated an "outperform" rating and set a $110.00 price target (up from $77.00) on shares of Rubrik in a research report on Friday, June 6th. KeyCorp reiterated an "overweight" rating and set a $113.00 price target (up from $98.00) on shares of Rubrik in a research report on Friday, June 6th. Finally, Robert W. Baird boosted their price target on Rubrik from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $100.38.

Rubrik Stock Up 5.0%

Shares of Rubrik stock traded up $4.30 during mid-day trading on Friday, hitting $90.85. The stock had a trading volume of 2,917,547 shares, compared to its average volume of 2,057,461. The firm has a 50-day moving average of $87.76 and a two-hundred day moving average of $78.93. Rubrik, Inc. has a 12-month low of $29.18 and a 12-month high of $103.00. The firm has a market cap of $17.58 billion, a P/E ratio of -32.10 and a beta of 0.43.

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

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.