Diversify Wealth Management LLC Sells 23,176 Shares of Rubrik, Inc. (NYSE:RBRK)

Diversify Wealth Management LLC cut its stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 40.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,323 shares of the company's stock after selling 23,176 shares during the period. Diversify Wealth Management LLC's holdings in Rubrik were worth $2,093,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Cerity Partners LLC increased its holdings in shares of Rubrik by 35.1% during the first quarter. Cerity Partners LLC now owns 4,319 shares of the company's stock worth $263,000 after buying an additional 1,123 shares in the last quarter. Robocap Asset Management Ltd increased its holdings in Rubrik by 186.8% in the first quarter. Robocap Asset Management Ltd now owns 109,099 shares of the company's stock valued at $6,653,000 after purchasing an additional 71,064 shares during the period. Yong Rong HK Asset Management Ltd acquired a new stake in Rubrik in the first quarter valued at $6,519,000. Envestnet Asset Management Inc. increased its holdings in Rubrik by 260.8% in the first quarter. Envestnet Asset Management Inc. now owns 39,826 shares of the company's stock valued at $2,429,000 after purchasing an additional 28,788 shares during the period. Finally, Penserra Capital Management LLC increased its holdings in Rubrik by 13.4% in the first quarter. Penserra Capital Management LLC now owns 1,006,111 shares of the company's stock valued at $61,352,000 after purchasing an additional 119,258 shares during the period. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Rubrik Price Performance

NYSE RBRK traded down $1.65 during trading hours on Friday, hitting $84.49. The company's stock had a trading volume of 3,301,313 shares, compared to its average volume of 2,554,768. Rubrik, Inc. has a 52 week low of $28.60 and a 52 week high of $103.00. The company's 50-day simple moving average is $88.46 and its two-hundred day simple moving average is $74.22.

Rubrik (NYSE:RBRK - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.17. The business had revenue of $278.48 million during the quarter, compared to the consensus estimate of $260.39 million. During the same period in the previous year, the business posted ($1.58) EPS. Rubrik's revenue was up 48.7% compared to the same quarter last year. As a group, research analysts anticipate that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Rubrik

In related news, CTO Arvind Nithrakashyap sold 43,128 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $88.56, for a total transaction of $3,819,415.68. Following the completion of the transaction, the chief technology officer directly owned 38,122 shares in the company, valued at $3,376,084.32. The trade was a 53.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Enrique T. Salem sold 700,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $91.09, for a total value of $63,763,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,244,728 shares of company stock valued at $110,956,092 over the last 90 days. 32.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Guggenheim increased their price objective on Rubrik from $105.00 to $108.00 and gave the company a "buy" rating in a report on Friday, June 6th. Wells Fargo & Company increased their price objective on Rubrik from $80.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Oppenheimer restated a "market perform" rating on shares of Rubrik in a report on Friday, June 6th. CIBC increased their price target on Rubrik from $110.00 to $125.00 and gave the stock an "outperformer" rating in a report on Monday, June 9th. Finally, Truist Financial increased their price target on Rubrik from $90.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $100.38.

Rubrik Company 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.