CloudAlpha Capital Management Limited Hong Kong Makes New Investment in Rubrik, Inc. (NYSE:RBRK)

Key Points

• CloudAlpha Capital Management invested approximately $3.67 million in Rubrik, Inc., acquiring 60,202 shares, according to their recent SEC filing.
• Multiple institutional investors, including Voloridge Investment Management and BNP Paribas Financial Markets, have significantly increased their stakes in Rubrik, indicating a total of 49.54% of the stock is owned by hedge funds and other institutional investors.
• Rubrik's stock has received several upgrades from analysts, with the average target price now set at $100.38 and 16 analysts giving it a buy rating.

CloudAlpha Capital Management Limited Hong Kong bought a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 60,202 shares of the company's stock, valued at approximately $3,671,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Voloridge Investment Management LLC acquired a new position in shares of Rubrik during the fourth quarter worth $85,331,000. Green Alpha Advisors LLC lifted its holdings in shares of Rubrik by 53.4% during the first quarter. Green Alpha Advisors LLC now owns 8,114 shares of the company's stock worth $495,000 after purchasing an additional 2,824 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Rubrik by 2,899.7% during the fourth quarter. BNP Paribas Financial Markets now owns 313,765 shares of the company's stock worth $20,508,000 after purchasing an additional 303,305 shares during the period. FMR LLC lifted its holdings in shares of Rubrik by 172.6% during the fourth quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after purchasing an additional 2,065,444 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Rubrik by 168.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 667,229 shares of the company's stock worth $43,610,000 after purchasing an additional 418,457 shares during the period. Institutional investors and hedge funds own 49.54% of the company's stock.

Rubrik Stock Down 0.7%

RBRK traded down $0.63 during midday trading on Friday, hitting $85.08. The company had a trading volume of 2,051,924 shares, compared to its average volume of 3,867,480. Rubrik, Inc. has a 52 week low of $28.60 and a 52 week high of $103.00. The company has a market capitalization of $16.46 billion, a price-to-earnings ratio of -30.06 and a beta of 0.46. The stock's 50 day moving average price is $89.80 and its 200 day moving average price is $75.46.

Rubrik (NYSE:RBRK - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported ($0.15) EPS 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 the consensus estimate of $260.39 million. The company's revenue was up 48.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.58) earnings per share. Research analysts predict that Rubrik, Inc. will post -7.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RBRK shares. Oppenheimer restated a "market perform" rating on shares of Rubrik in a report on Friday, June 6th. Piper Sandler dropped their target price on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen upgraded shares of Rubrik from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. UBS Group restated a "buy" rating on shares of Rubrik in a report on Friday, June 6th. Finally, CIBC boosted their target price on shares of Rubrik from $110.00 to $125.00 and gave the company an "outperformer" rating in a report on Monday, June 9th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $100.38.

Insider Activity at Rubrik

In other news, Director Ravi Mhatre sold 16,984 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $89.47, for a total transaction of $1,519,558.48. Following the completion of the sale, the director directly owned 81,842 shares of the company's stock, valued at $7,322,403.74. The trade was a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Yvonne Wassenaar sold 2,000 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $88.21, for a total transaction of $176,420.00. Following the sale, the director directly owned 2,855 shares of the company's stock, valued at approximately $251,839.55. The trade was a 41.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,233,015 shares of company stock valued at $110,293,527 over the last quarter. 32.38% of the stock is currently owned by company insiders.

Rubrik 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.