Assenagon Asset Management S.A. Has $12.36 Million Holdings in Rubrik, Inc. $RBRK

Key Points

• Assenagon Asset Management cut its Rubrik stake by 60.7% in the first quarter, ending with 252,392 shares valued at about $12.36 million.
• Rubrik continues to draw strong Wall Street attention, with 28 Buy ratings and an average analyst price target of $93; several firms recently raised targets, though Wells Fargo lowered its target to $90.
• Recent insider selling included director John Wendell Thompson and Yvonne Wassenaar, while Rubrik also reported a strong quarter with EPS of $0.16 and revenue up 39% year over year.

Assenagon Asset Management S.A. lessened its holdings in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 60.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 252,392 shares of the company's stock after selling 389,820 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.12% of Rubrik worth $12,360,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in Rubrik by 1,360.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $30,000 after acquiring an additional 340 shares during the period. Financial Life Planners acquired a new stake in Rubrik in the third quarter valued at approximately $31,000. Atlantic Union Bankshares Corp grew its position in Rubrik by 100.0% during the 4th quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company's stock worth $31,000 after acquiring an additional 200 shares during the last quarter. Triumph Capital Management bought a new stake in shares of Rubrik during the fourth quarter worth about $33,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Rubrik in the third quarter valued at $34,000. 49.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RBRK has been the subject of several research analyst reports. Mizuho lifted their price objective on Rubrik from $80.00 to $90.00 and gave the stock an "outperform" rating in a research report on Friday, June 5th. Robert W. Baird upped their target price on shares of Rubrik from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, June 11th. Truist Financial reissued a "buy" rating and issued a $90.00 price target (up from $80.00) on shares of Rubrik in a research report on Friday, June 5th. Wells Fargo & Company dropped their target price on shares of Rubrik from $125.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, March 13th. Finally, Scotiabank reissued an "outperform" rating on shares of Rubrik in a report on Friday, June 5th. Twenty-eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $93.00.

Insider Activity

In related news, Director John Wendell Thompson sold 2,500 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $84.51, for a total value of $211,275.00. Following the transaction, the director directly owned 15,000 shares of the company's stock, valued at approximately $1,267,650. This represents a 14.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yvonne Wassenaar sold 676 shares of the company's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $75.00, for a total transaction of $50,700.00. Following the transaction, the director owned 5,359 shares in the company, valued at $401,925. This represents a 11.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 280,981 shares of company stock valued at $22,053,379 in the last quarter. 13.66% of the stock is owned by company insiders.

Rubrik Trading Up 1.9%

RBRK opened at $72.35 on Friday. Rubrik, Inc. has a 12 month low of $42.25 and a 12 month high of $99.75. The business's 50-day moving average price is $65.44 and its 200-day moving average price is $62.71. The company has a market cap of $14.89 billion, a P/E ratio of -49.90 and a beta of 1.10.

Rubrik (NYSE:RBRK - Get Free Report) last posted its earnings results on Thursday, June 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.19. The firm had revenue of $387.07 million for the quarter, compared to analysts' expectations of $366.31 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. The business's revenue for the quarter was up 39.0% on a year-over-year basis. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. Equities research analysts forecast that Rubrik, Inc. will post -1.16 earnings per share for the current fiscal year.

Rubrik Profile

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company's platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).

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