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 purchased a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,525 shares of the company's stock, valued at approximately $459,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC grew its position in shares of Rubrik by 172.6% during the fourth quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after acquiring an additional 2,065,444 shares during the last quarter. First Trust Advisors LP grew its position in shares of Rubrik by 26.6% during the fourth quarter. First Trust Advisors LP now owns 3,156,035 shares of the company's stock worth $206,278,000 after acquiring an additional 662,914 shares during the last quarter. PointState Capital LP grew its position in shares of Rubrik by 21.1% during the fourth quarter. PointState Capital LP now owns 1,523,808 shares of the company's stock worth $99,596,000 after acquiring an additional 265,152 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Rubrik by 32.0% during the fourth quarter. Federated Hermes Inc. now owns 1,516,991 shares of the company's stock worth $99,151,000 after acquiring an additional 367,491 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in shares of Rubrik during the fourth quarter worth approximately $85,331,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RBRK has been the topic of a number of research reports. Cantor Fitzgerald raised their target price on shares of Rubrik from $95.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. CIBC raised their target price on shares of Rubrik from $110.00 to $125.00 and gave the stock an "outperformer" rating in a research report on Monday, June 9th. Guggenheim raised their target price on shares of Rubrik from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Wells Fargo & Company increased their price target on Rubrik from $80.00 to $125.00 and gave the stock an "overweight" rating 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 analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $100.38.

Rubrik Stock Performance

Rubrik stock opened at $87.72 on Friday. Rubrik, Inc. has a one year low of $28.60 and a one year high of $103.00. The business has a fifty day moving average of $89.95 and a two-hundred day moving average of $76.46. The company has a market cap of $16.97 billion, a P/E ratio of -31.00 and a beta of 0.45.

Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $260.39 million. The company's quarterly revenue was up 48.7% compared to the same quarter last year. During the same period last year, the firm earned ($1.58) EPS. Sell-side analysts predict that Rubrik, Inc. will post -7.66 EPS for the current year.

Insider Transactions at Rubrik

In other news, CTO Arvind Nithrakashyap sold 43,128 shares of Rubrik 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 completion of the transaction, the chief technology officer owned 38,122 shares of the company's stock, valued at $3,376,084.32. The trade was a 53.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $90.10, for a total value of $2,252,500.00. Following the transaction, the executive directly owned 504,584 shares of the company's stock, valued at $45,463,018.40. This trade represents a 4.72% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,175,506 shares of company stock worth $106,223,064. Corporate insiders own 32.38% of the company's stock.

About Rubrik

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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