Brown Advisory Inc. Cuts Stock Holdings in Rubrik, Inc. (NYSE:RBRK)

Brown Advisory Inc. reduced its stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 46.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,560 shares of the company's stock after selling 4,025 shares during the quarter. Brown Advisory Inc.'s holdings in Rubrik were worth $278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new position in shares of Rubrik during the fourth quarter valued at about $28,000. Nemes Rush Group LLC purchased a new stake in shares of Rubrik during the fourth quarter valued at approximately $39,000. Point72 Hong Kong Ltd purchased a new stake in Rubrik in the fourth quarter worth approximately $47,000. Quarry LP purchased a new stake in Rubrik in the fourth quarter worth approximately $48,000. Finally, CoreCap Advisors LLC bought a new position in Rubrik in the fourth quarter worth approximately $59,000. 49.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. KeyCorp reiterated an "overweight" rating and issued a $113.00 price target (up from $98.00) on shares of Rubrik in a report on Friday, June 6th. Rosenblatt Securities increased their target price on shares of Rubrik from $82.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Piper Sandler decreased their target price on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. CIBC increased their target price on shares of Rubrik from $110.00 to $125.00 and gave the company an "outperformer" rating in a research report on Monday, June 9th. Finally, Cantor Fitzgerald increased their target price on shares of Rubrik from $95.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.38.

Rubrik Stock Performance

Shares of NYSE:RBRK traded up $1.09 during midday trading on Friday, hitting $88.02. The company's stock had a trading volume of 3,462,487 shares, compared to its average volume of 2,597,929. The business's 50 day simple moving average is $89.61 and its 200 day simple moving average is $74.87. The company has a market cap of $17.03 billion, a P/E ratio of -31.10 and a beta of 0.46. Rubrik, Inc. has a 12-month low of $28.60 and a 12-month high of $103.00.

Rubrik (NYSE:RBRK - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.17. The business had revenue of $278.48 million for the quarter, compared to analysts' expectations of $260.39 million. During the same period in the previous year, the company earned ($1.58) earnings per share. Rubrik's quarterly revenue was up 48.7% on a year-over-year basis. On average, sell-side analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Insider Transactions at Rubrik

In other Rubrik news, Director Enrique T. Salem sold 700,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $91.09, for a total transaction of $63,763,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kiran Kumar Choudary sold 30,000 shares of Rubrik stock in a transaction that occurred on 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 sale, the chief financial officer owned 521,665 shares in the company, valued at $52,291,699.60. This represents a 5.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,229,515 shares of company stock worth $109,999,877. 32.38% of the stock is owned by company insiders.

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.