Assenagon Asset Management S.A. Purchases 28,056 Shares of Rubrik, Inc. $RBRK

Key Points

• Assenagon Asset Management increased its Rubrik stake by 11.1% in the second quarter, buying 28,056 shares and bringing its holdings to 280,448 shares valued at approximately $22.5 million. Institutional investors collectively own 49.54% of Rubrik.
• Rubrik reported quarterly EPS of $0.16, beating the consensus estimate of a $0.03 loss, while revenue rose 39% year over year to $387.07 million. The stock opened at $90.02, near its 52-week high of $99.75.
• Analysts maintain a largely positive view, with 29 Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and a $94.20 average price target. Meanwhile, insiders sold 317,682 shares worth about $26.4 million over the past three months.

Assenagon Asset Management S.A. boosted its holdings in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 11.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 280,448 shares of the company's stock after purchasing an additional 28,056 shares during the quarter. Assenagon Asset Management S.A. owned about 0.14% of Rubrik worth $22,514,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Essential Partners LLC lifted its holdings in shares of Rubrik by 99.3% in the 1st quarter. Essential Partners LLC now owns 570 shares of the company's stock valued at $28,000 after acquiring an additional 284 shares during the last quarter. Atlantic Union Bankshares Corp increased its stake in Rubrik by 100.0% during the fourth 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 purchased a new stake in Rubrik during the fourth quarter valued at approximately $33,000. Banque Cantonale Vaudoise bought a new stake in shares of Rubrik in the 3rd quarter valued at approximately $34,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Rubrik in the 4th quarter valued at approximately $35,000. Institutional investors own 49.54% of the company's stock.

Rubrik Stock Performance

RBRK opened at $90.02 on Monday. The stock's 50 day moving average price is $77.24 and its 200-day moving average price is $63.26. Rubrik, Inc. has a one year low of $42.25 and a one year high of $99.75. The stock has a market cap of $18.53 billion, a price-to-earnings ratio of -62.08 and a beta of 1.17.

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

Insiders Place Their Bets

In other news, Director Ravi Mhatre sold 3,979 shares of the business's stock in a transaction on Monday, July 13th. The shares were sold at an average price of $83.10, for a total transaction of $330,654.90. Following the completion of the sale, the director directly owned 125,351 shares of the company's stock, valued at approximately $10,416,668.10. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Arvind Nithrakashyap sold 12,820 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $83.71, for a total transaction of $1,073,162.20. Following the completion of the transaction, the chief technology officer directly owned 293,293 shares in the company, valued at $24,551,557.03. This represents a 4.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 317,682 shares of company stock valued at $26,402,176 in the last three months. 13.66% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wedbush reissued an "outperform" rating and set a $90.00 target price on shares of Rubrik in a research report on Thursday, June 11th. UBS Group restated a "buy" rating on shares of Rubrik in a research report on Monday, June 1st. Wolfe Research reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Rubrik in a research note on Friday, June 5th. Jefferies Financial Group set a $90.00 price objective on shares of Rubrik in a research report on Friday, June 5th. Finally, Truist Financial reiterated a "buy" rating and set a $90.00 price objective (up from $80.00) on shares of Rubrik in a research report on Friday, June 5th. Twenty-nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.20.

Rubrik Company 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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