Rubrik, Inc. (NYSE:RBRK) Holdings Decreased by Diversify Wealth Management LLC

Diversify Wealth Management LLC decreased its holdings in Rubrik, Inc. (NYSE:RBRK - Free Report) by 40.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in Rubrik during the fourth quarter valued at approximately $28,000. Nemes Rush Group LLC purchased a new position in Rubrik during the 4th quarter worth $39,000. Point72 Hong Kong Ltd purchased a new position in Rubrik during the 4th quarter worth $47,000. Quarry LP purchased a new position in Rubrik during the 4th quarter worth $48,000. Finally, CoreCap Advisors LLC purchased a new position in Rubrik during the 4th quarter worth $59,000. Institutional investors own 49.54% of the company's stock.

Rubrik Trading Up 1.7%

RBRK stock traded up $1.49 during trading on Tuesday, hitting $87.33. 2,640,514 shares of the company's stock were exchanged, compared to its average volume of 2,555,380. The business has a 50-day moving average price of $88.46 and a two-hundred day moving average price of $74.22. The stock has a market capitalization of $16.90 billion, a price-to-earnings ratio of -30.86 and a beta of 0.46. Rubrik, Inc. has a 52-week low of $28.60 and a 52-week high of $103.00.

Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly 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 firm had revenue of $278.48 million for the quarter, compared to analyst estimates of $260.39 million. The company's quarterly revenue was up 48.7% on a year-over-year basis. During the same period last year, the firm earned ($1.58) EPS. On average, equities research analysts anticipate that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Yvonne Wassenaar sold 2,000 shares of the firm's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $88.21, for a total value of $176,420.00. Following the transaction, the director directly owned 2,855 shares in the company, valued at $251,839.55. This trade represents a 41.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ravi Mhatre sold 16,984 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $89.47, for a total value of $1,519,558.48. Following the sale, the director owned 81,842 shares in the company, valued at approximately $7,322,403.74. The trade was a 17.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,231,515 shares of company stock valued at $110,123,937. Insiders own 32.38% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Roth Capital increased their target price on Rubrik from $97.00 to $107.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Wedbush raised their price objective on Rubrik from $80.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Wall Street Zen raised Rubrik from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Guggenheim raised their target price on Rubrik from $105.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Cantor Fitzgerald raised their target price on Rubrik from $95.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $100.38.

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.