Engineers Gate Manager LP Sells 30,897 Shares of Rubrik, Inc. $RBRK

Key Points

• Engineers Gate Manager LP reduced its Rubrik position by 80.3% in the second quarter, selling 30,897 shares and retaining 7,600 shares valued at approximately $610,000.
• Rubrik reported stronger-than-expected quarterly results, with EPS of $0.20 versus the $0.04 consensus estimate and revenue of $427.26 million, up 43.9% year over year.
• Analyst sentiment remains broadly positive: 28 analysts rate the stock Buy and one rates it Sell, resulting in a “Moderate Buy” consensus and an average price target of $113.31.

Engineers Gate Manager LP cut its position in Rubrik, Inc. (NYSE:RBRK - Free Report) by 80.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,600 shares of the company's stock after selling 30,897 shares during the quarter. Engineers Gate Manager LP's holdings in Rubrik were worth $610,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Rubrik during the 4th quarter worth about $345,907,000. Pictet Asset Management Holding SA boosted its stake in shares of Rubrik by 104.1% during the 1st quarter. Pictet Asset Management Holding SA now owns 3,325,503 shares of the company's stock worth $162,572,000 after acquiring an additional 1,696,342 shares during the period. Geode Capital Management LLC increased its holdings in shares of Rubrik by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 2,528,649 shares of the company's stock worth $193,433,000 after acquiring an additional 178,714 shares during the last quarter. Legal & General Group Plc raised its stake in Rubrik by 8.6% in the 4th quarter. Legal & General Group Plc now owns 1,904,810 shares of the company's stock valued at $145,680,000 after acquiring an additional 151,234 shares during the period. Finally, Clearbridge Investments LLC raised its stake in Rubrik by 7.6% in the 4th quarter. Clearbridge Investments LLC now owns 1,363,888 shares of the company's stock valued at $104,310,000 after acquiring an additional 96,360 shares during the period. 49.54% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Rubrik news, CTO Arvind Nithrakashyap sold 12,820 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $74.04, for a total transaction of $949,192.80. Following the sale, the chief technology officer directly owned 293,293 shares in the company, valued at $21,715,413.72. This represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a filing 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 John Thompson sold 11,000 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $82.65, for a total transaction of $909,150.00. Following the completion of the transaction, the director directly owned 8,362 shares in the company, valued at approximately $691,119.30. This represents a 56.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 147,541 shares of company stock worth $12,704,112. Company insiders own 13.66% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on RBRK. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rubrik in a research report on Wednesday, June 24th. Telsey Advisory Group set a $120.00 target price on shares of Rubrik in a research note on Friday, August 28th. DA Davidson lifted their target price on shares of Rubrik from $90.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, August 28th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Rubrik in a research note on Monday, August 31st. Finally, Citigroup raised their price objective on shares of Rubrik from $96.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, August 28th. Twenty-eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Rubrik presently has a consensus rating of "Moderate Buy" and an average target price of $113.31.

Rubrik Trading Down 1.1%

NYSE RBRK opened at $111.76 on Wednesday. The company has a market cap of $23.17 billion, a price-to-earnings ratio of -88.70 and a beta of 1.24. The company has a 50 day moving average of $90.56 and a 200-day moving average of $72.79. Rubrik, Inc. has a 1-year low of $42.25 and a 1-year high of $113.95.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.16. The company had revenue of $427.26 million for the quarter, compared to analyst estimates of $396.30 million. The company's quarterly revenue was up 43.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) EPS. Rubrik has set its FY 2027 guidance at 0.470-0.530 EPS and its Q3 2027 guidance at 0.070-0.090 EPS. On average, equities research analysts forecast that Rubrik, Inc. will post -1.19 earnings per share for the current year.

Rubrik Profile

Rubrik, Inc is a cloud data management and cyber resilience company that helps organizations protect, manage and recover data across on-premises systems, cloud environments and software-as-a-service applications. Its platform is designed to support data backup, recovery, security monitoring and operational resilience.

The company's principal offering, Rubrik Security Cloud, provides centralized capabilities for data protection and cyber recovery. The platform helps organizations identify sensitive data, monitor for threats, maintain secure backups and restore systems following events such as ransomware attacks, operational failures or other disruptions.

Rubrik was founded in 2014 by Bipul Sinha, Arvind Nithrakashyap and Soham Mazumdar.

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