Fiera Capital Corp Invests $20.32 Million in Rubrik, Inc. (NYSE:RBRK)

Key Points

• Fiera Capital Corp acquired a new position in Rubrik, Inc. by purchasing 333,207 shares valued at approximately $20.3 million, amounting to about 0.18% of the company's stock.
• Several hedge funds increased their stakes in Rubrik, with Vanguard Group leading by raising its position by 114.1%, now owning over $413 million in shares.
• Rubrik reported a 48.7% year-over-year revenue growth of $278.48 million and surpassed earnings expectations with a loss of only ($0.15) per share, compared to estimates of ($0.32).

Fiera Capital Corp acquired a new stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 333,207 shares of the company's stock, valued at approximately $20,319,000. Fiera Capital Corp owned about 0.18% of Rubrik at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Voloridge Investment Management LLC purchased a new position in Rubrik during the fourth quarter worth $85,331,000. Green Alpha Advisors LLC boosted its stake in 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 buying an additional 2,824 shares during the period. BNP Paribas Financial Markets boosted its stake in 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 buying an additional 303,305 shares during the period. FMR LLC boosted its stake in 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 buying an additional 2,065,444 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 buying an additional 418,457 shares during the period. Institutional investors own 49.54% of the company's stock.

Insider Activity

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $90.10, for a total transaction of $2,252,500.00. Following the sale, the executive owned 504,584 shares in the company, valued at approximately $45,463,018.40. The trade was a 4.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $3,819,415.68. Following the sale, the chief technology officer owned 38,122 shares in the company, valued at $3,376,084.32. The trade was a 53.08% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,175,506 shares of company stock valued at $106,223,064. Company insiders own 32.38% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Guggenheim lifted their price objective on shares of Rubrik from $105.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. BMO Capital Markets reiterated an "outperform" rating and set a $110.00 target price (up from $77.00) on shares of Rubrik in a research report on Friday, June 6th. Robert W. Baird lifted their target price on Rubrik from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. KeyCorp reiterated an "overweight" rating and set a $113.00 target price (up from $98.00) on shares of Rubrik in a research report on Friday, June 6th. Finally, Mizuho downgraded Rubrik from an "outperform" rating to a "neutral" rating and lifted their target price for the stock from $75.00 to $86.00 in a research report on Thursday, May 15th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $100.38.

Rubrik Stock Down 7.6%

Shares of RBRK stock traded down $7.23 on Friday, hitting $87.72. The stock had a trading volume of 5,995,843 shares, compared to its average volume of 3,275,305. The company has a market cap of $16.97 billion, a PE ratio of -31.00 and a beta of 0.45. The business has a 50 day moving average price of $89.95 and a 200 day moving average price of $76.39. Rubrik, Inc. has a one year low of $28.60 and a one year high of $103.00.

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

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.