California Public Employees Retirement System Has $8.61 Million Position in Rubrik, Inc. $RBRK

Key Points

• CalPERS reduced its stake in Rubrik by 21.7% in the first quarter, selling 48,850 shares and ending with 175,866 shares worth about $8.61 million.
• Analysts remain broadly bullish on Rubrik, with 28 Buy ratings, one Sell rating, and a consensus “Moderate Buy” rating; several firms recently raised their price targets, including Robert W. Baird to $110.
• Insiders have been selling shares over the past three months, including recent sales by directors Yvonne Wassenaar and Ravi Mhatre, totaling 291,321 shares worth about $24.1 million.

California Public Employees Retirement System cut its holdings in Rubrik, Inc. (NYSE:RBRK - Free Report) by 21.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,866 shares of the company's stock after selling 48,850 shares during the period. California Public Employees Retirement System owned approximately 0.09% of Rubrik worth $8,612,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atlantic Union Bankshares Corp grew 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 purchasing an additional 200 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Rubrik during the 3rd quarter worth approximately $34,000. Triumph Capital Management bought a new position in shares of Rubrik during the 4th quarter worth approximately $33,000. Los Angeles Capital Management LLC acquired a new stake in shares of Rubrik during the 4th quarter worth approximately $35,000. Finally, Advocate Investing Services LLC acquired a new stake in shares of Rubrik during the 4th quarter worth approximately $38,000. 49.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RBRK has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on shares of Rubrik from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, June 11th. Wolfe Research reiterated an "outperform" rating and set a $95.00 price objective on shares of Rubrik in a report on Friday, June 5th. Mizuho raised their target price on Rubrik from $80.00 to $90.00 and gave the company an "outperform" rating in a research note on Friday, June 5th. Jefferies Financial Group set a $90.00 target price on Rubrik in a research report on Friday, June 5th. Finally, Oppenheimer upped their price target on Rubrik from $85.00 to $90.00 and gave the stock an "outperform" rating in a research note on Friday, June 5th. Twenty-eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Rubrik has a consensus rating of "Moderate Buy" and an average target price of $93.96.

Insider Activity at Rubrik

In other news, Director Yvonne Wassenaar sold 721 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $81.57, for a total value of $58,811.97. Following the sale, the director owned 4,638 shares of the company's stock, valued at $378,321.66. The trade was a 13.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Mhatre sold 3,979 shares of the firm's stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $83.10, for a total transaction of $330,654.90. Following the completion of the transaction, the director directly owned 125,351 shares of the company's stock, valued at approximately $10,416,668.10. This trade represents a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 291,321 shares of company stock worth $24,074,426. 13.66% of the stock is currently owned by corporate insiders.

Rubrik Stock Up 0.7%

RBRK stock opened at $73.17 on Friday. The firm has a market capitalization of $15.06 billion, a PE ratio of -50.46 and a beta of 1.10. The stock's 50 day moving average is $75.22 and its 200-day moving average is $62.84. Rubrik, Inc. has a twelve month low of $42.25 and a twelve month high of $99.75.

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

About Rubrik

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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