Allianz Asset Management GmbH Purchases Shares of 7,525 Rubrik, Inc. (NYSE:RBRK)

Key Points

• Allianz Asset Management GmbH recently acquired a new stake in Rubrik, Inc. by purchasing 7,525 shares valued at approximately $459,000.
• Several institutional investors, including FMR LLC and First Trust Advisors LP, significantly increased their stakes in Rubrik during the fourth quarter, reflecting growing confidence in the company's stock performance.
• Rubrik reported quarterly earnings that exceeded expectations, with a revenue increase of 48.7% compared to the same quarter last year, marking a significant financial turnaround.

Allianz Asset Management GmbH acquired a new position in Rubrik, Inc. (NYSE:RBRK - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,525 shares of the company's stock, valued at approximately $459,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new position in Rubrik during the fourth quarter worth about $28,000. Point72 Hong Kong Ltd acquired a new stake in Rubrik in the 4th quarter valued at about $47,000. Quarry LP purchased a new position in Rubrik in the 4th quarter valued at about $48,000. CoreCap Advisors LLC purchased a new position in Rubrik in the fourth quarter valued at approximately $59,000. Finally, NewEdge Advisors LLC acquired a new stake in Rubrik in the fourth quarter valued at approximately $62,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Rubrik Trading Up 4.4%

RBRK stock traded up $3.85 during midday trading on Wednesday, hitting $91.39. The company's stock had a trading volume of 1,070,762 shares, compared to its average volume of 3,047,250. The firm's 50-day moving average is $89.82 and its 200-day moving average is $76.77. The company has a market cap of $17.68 billion, a PE ratio of -32.22 and a beta of 0.45. Rubrik, Inc. has a 12 month low of $29.18 and a 12 month high of $103.00.

Rubrik (NYSE:RBRK - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) 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 firm's revenue for the quarter was up 48.7% on a year-over-year basis. During the same period in the previous year, the business earned ($1.58) EPS. Analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Analysts Set New Price Targets

RBRK has been the topic of a number of recent research reports. BMO Capital Markets reiterated an "outperform" rating and issued a $110.00 target price (up from $77.00) on shares of Rubrik in a research note on Friday, June 6th. Roth Capital upped their price target on Rubrik from $97.00 to $107.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Rosenblatt Securities upped their price target on Rubrik from $82.00 to $110.00 and gave the company 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 report on Saturday, June 7th. Finally, Truist Financial raised their price objective on Rubrik from $90.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $100.38.

Insider Activity

In related news, CFO Kiran Kumar Choudary sold 30,000 shares of the company'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 completion of the sale, the chief financial officer owned 521,665 shares of the company's stock, valued at approximately $52,291,699.60. This represents a 5.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Enrique T. Salem sold 700,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were 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. In the last ninety days, insiders have sold 1,125,047 shares of company stock worth $102,701,034. 32.38% of the stock is currently owned by insiders.

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.