Focus Partners Wealth Takes Position in Rubrik, Inc. (NYSE:RBRK)

Focus Partners Wealth purchased a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,941 shares of the company's stock, valued at approximately $258,000.

A number of other large investors have also added to or reduced their stakes in RBRK. Russell Investments Group Ltd. bought a new position in shares of Rubrik in the fourth quarter worth $28,000. Global Retirement Partners LLC increased its holdings in Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock valued at $33,000 after buying an additional 500 shares during the period. Nemes Rush Group LLC acquired a new position in shares of Rubrik in the 4th quarter valued at approximately $39,000. Quarry LP bought a new stake in shares of Rubrik during the 4th quarter worth approximately $48,000. Finally, CoreCap Advisors LLC acquired a new stake in shares of Rubrik during the 4th quarter worth approximately $59,000. Institutional investors and hedge funds own 49.54% of the company's stock.

Insider Activity at Rubrik

In other Rubrik news, Director John Wendell Thompson sold 9,009 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $63.18, for a total value of $569,188.62. Following the completion of the sale, the director now directly owns 998 shares of the company's stock, valued at approximately $63,053.64. This represents a 90.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kiran Kumar Choudary sold 87,971 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $70.04, for a total value of $6,161,488.84. Following the completion of the transaction, the chief financial officer now directly owns 413,458 shares of the company's stock, valued at approximately $28,958,598.32. This represents a 17.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 592,117 shares of company stock valued at $40,192,998. 32.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RBRK has been the subject of a number of research analyst reports. BMO Capital Markets boosted their price target on Rubrik from $72.00 to $77.00 and gave the stock an "outperform" rating in a report on Friday, March 14th. Guggenheim raised their target price on shares of Rubrik from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. William Blair started coverage on Rubrik in a report on Friday, February 7th. They issued a "market perform" rating for the company. UBS Group reaffirmed a "buy" rating on shares of Rubrik in a research note on Tuesday, April 29th. Finally, Mizuho downgraded shares of 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 investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Rubrik currently has an average rating of "Moderate Buy" and an average price target of $76.13.

Rubrik Stock Up 2.1%

NYSE:RBRK traded up $1.92 on Tuesday, hitting $94.27. The stock had a trading volume of 1,103,665 shares, compared to its average volume of 2,063,746. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $95.34. The business's fifty day moving average is $69.97 and its 200 day moving average is $66.27. The company has a market cap of $17.89 billion and a PE ratio of -6.85.

Rubrik (NYSE:RBRK - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. The firm's quarterly revenue was up 47.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.59) EPS. Equities analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

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.