Fred Alger Management LLC Acquires 123,873 Shares of Rubrik, Inc. $RBRK

Fred Alger Management LLC lifted its holdings in Rubrik, Inc. (NYSE:RBRK - Free Report) by 73.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 291,503 shares of the company's stock after purchasing an additional 123,873 shares during the period. Fred Alger Management LLC owned about 0.15% of Rubrik worth $22,294,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RBRK. EverSource Wealth Advisors LLC lifted its stake in shares of Rubrik by 1,360.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $30,000 after purchasing an additional 340 shares during the period. Financial Life Planners bought a new position in shares of Rubrik in the 3rd quarter worth approximately $31,000. Atlantic Union Bankshares Corp lifted its stake in shares of Rubrik by 100.0% in the 4th quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company's stock worth $31,000 after purchasing an additional 200 shares during the period. Triumph Capital Management bought a new position in shares of Rubrik in the 4th quarter worth approximately $33,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Rubrik in the 3rd quarter worth approximately $34,000. Institutional investors own 49.54% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Rubrik in a research note on Friday, June 5th. Wolfe Research reaffirmed an "outperform" rating and issued a $95.00 price objective on shares of Rubrik in a research note on Friday, June 5th. Mizuho raised their price objective on Rubrik from $80.00 to $90.00 and gave the stock an "outperform" rating in a research note on Friday, June 5th. BTIG Research reaffirmed a "buy" rating and issued a $91.00 price objective on shares of Rubrik in a research note on Thursday, June 11th. Finally, Robert W. Baird raised their price objective on Rubrik from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, June 11th. Twenty-eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $93.00.

Insiders Place Their Bets

In related news, Director John Wendell Thompson sold 2,500 shares of Rubrik stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $84.51, for a total transaction of $211,275.00. Following the sale, the director owned 15,000 shares of the company's stock, valued at approximately $1,267,650. This trade represents a 14.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kiran Kumar Choudary sold 20,000 shares of Rubrik stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $51.69, for a total value of $1,033,800.00. Following the sale, the chief financial officer directly owned 549,901 shares in the company, valued at $28,424,382.69. This trade represents a 3.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 398,939 shares of company stock worth $27,628,167 over the last quarter. Company insiders own 13.66% of the company's stock.

Rubrik Stock Down 0.8%

NYSE RBRK opened at $69.22 on Wednesday. The stock's 50-day moving average price is $61.87 and its 200-day moving average price is $62.67. Rubrik, Inc. has a 52 week low of $42.25 and a 52 week high of $99.75. The company has a market capitalization of $14.25 billion, a P/E ratio of -47.74 and a beta of 1.09.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.19. The company had revenue of $387.07 million during the quarter, compared to the consensus estimate of $366.31 million. During the same period last year, the business earned ($0.15) EPS. The firm's quarterly revenue was up 39.0% compared to the same quarter last year. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. Research analysts anticipate that Rubrik, Inc. will post -1.16 EPS for the current year.

Rubrik Profile

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company's platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).

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