Rubrik, Inc. (NYSE:RBRK) Holdings Boosted by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its stake in Rubrik, Inc. (NYSE:RBRK - Free Report) by 14.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 29,213 shares of the company's stock after purchasing an additional 3,593 shares during the period. Ameriprise Financial Inc.'s holdings in Rubrik were worth $1,909,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. acquired a new position in Rubrik in the fourth quarter worth about $28,000. Global Retirement Partners LLC grew its position in shares of Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock worth $33,000 after acquiring an additional 500 shares in the last quarter. Nemes Rush Group LLC acquired a new position in shares of Rubrik in the 4th quarter worth approximately $39,000. Quarry LP bought a new stake in shares of Rubrik in the 4th quarter valued at approximately $48,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Rubrik during the 4th quarter valued at approximately $62,000. Institutional investors and hedge funds own 49.54% of the company's stock.

Analysts Set New Price Targets

RBRK has been the subject of a number of research reports. William Blair assumed coverage on shares of Rubrik in a report on Friday, February 7th. They issued a "market perform" rating for the company. BMO Capital Markets raised their price target on shares of Rubrik from $72.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. Roth Capital initiated coverage on shares of Rubrik in a research report on Thursday, May 15th. They set a "buy" rating and a $97.00 price objective for the company. Piper Sandler dropped their price objective on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Guggenheim restated a "buy" rating and issued a $105.00 target price (up from $80.00) on shares of Rubrik in a research note on Wednesday, May 28th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Rubrik currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.69.

Rubrik Price Performance

Shares of RBRK traded up $0.47 during midday trading on Wednesday, reaching $98.54. The stock had a trading volume of 2,415,152 shares, compared to its average volume of 2,117,346. The firm's 50 day moving average price is $73.82 and its 200-day moving average price is $68.50. The company has a market capitalization of $18.70 billion and a P/E ratio of -7.15. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $99.98.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.22). The business had revenue of $258.10 million for the quarter, compared to the consensus estimate of $233.13 million. The company's revenue was up 47.5% compared to the same quarter last year. During the same period last year, the firm earned ($1.59) earnings per share. On average, equities analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Insider Activity at Rubrik

In related news, CTO Arvind Nithrakashyap sold 32,484 shares of Rubrik stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $52.04, for a total value of $1,690,467.36. Following the transaction, the chief technology officer now owns 186,795 shares of the company's stock, valued at approximately $9,720,811.80. This trade represents a 14.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $98.20, for a total value of $2,455,000.00. Following the sale, the executive now owns 479,584 shares in the company, valued at approximately $47,095,148.80. The trade was a 4.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 565,648 shares of company stock valued at $40,797,785 over the last ninety days. Insiders own 32.38% of the company's stock.

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.