Legal Advantage Investments Inc. Makes New $250,000 Investment in Rubrik, Inc. $RBRK

Key Points

• Legal Advantage Investments Inc. acquired 4,100 shares of Rubrik, Inc. for approximately $250,000, marking the company's new position in the stock during the first quarter.
• Insider transactions indicate significant selling activity, with CFO Kiran Kumar Choudary selling 30,000 shares and Director Enrique T. Salem selling 700,000 shares recently.
• Rubrik, Inc. posted quarterly earnings that surpassed analysts’ expectations, reporting $278.48 million in revenue, up 48.7% year-over-year.

Legal Advantage Investments Inc. bought a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,100 shares of the company's stock, valued at approximately $250,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Voloridge Investment Management LLC acquired a new position in Rubrik in the 4th quarter valued at about $85,331,000. Green Alpha Advisors LLC increased its stake in shares of Rubrik by 53.4% during the 1st quarter. Green Alpha Advisors LLC now owns 8,114 shares of the company's stock valued at $495,000 after acquiring an additional 2,824 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Rubrik by 2,899.7% during the 4th quarter. BNP Paribas Financial Markets now owns 313,765 shares of the company's stock valued at $20,508,000 after acquiring an additional 303,305 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Rubrik by 168.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 667,229 shares of the company's stock valued at $43,610,000 after acquiring an additional 418,457 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Rubrik by 14.0% during the 4th quarter. Ameriprise Financial Inc. now owns 29,213 shares of the company's stock valued at $1,909,000 after acquiring an additional 3,593 shares during the last quarter. Institutional investors and hedge funds own 49.54% of the company's stock.

Insider Buying and Selling at Rubrik

In related news, Director John Wendell Thompson sold 9,009 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $87.29, for a total transaction of $786,395.61. Following the sale, the director directly owned 998 shares of the company's stock, valued at approximately $87,115.42. This represents a 90.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ravi Mhatre sold 16,984 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $89.47, for a total value of $1,519,558.48. Following the completion of the sale, the director directly owned 81,842 shares in the company, valued at $7,322,403.74. This represents a 17.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,080,047 shares of company stock worth $99,115,944. 32.38% of the stock is owned by insiders.

Rubrik Stock Up 1.6%

Shares of Rubrik stock traded up $1.31 on Friday, hitting $85.76. 2,337,539 shares of the company's stock traded hands, compared to its average volume of 2,965,460. The stock has a market cap of $16.59 billion, a P/E ratio of -30.30 and a beta of 0.45. The firm's 50-day moving average is $88.28 and its 200 day moving average is $77.72. Rubrik, Inc. has a 52-week low of $29.18 and a 52-week high of $103.00.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating 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 business's revenue was up 48.7% on a year-over-year basis. During the same period in the prior year, the company posted ($1.58) earnings per share. Equities research analysts forecast that Rubrik, Inc. will post -7.66 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Mizuho downgraded shares of Rubrik from an "outperform" rating to a "neutral" rating and upped their price objective for the company from $75.00 to $86.00 in a research note on Thursday, May 15th. CIBC boosted their target price on Rubrik from $110.00 to $125.00 and gave the stock an "outperformer" rating in a report on Monday, June 9th. Robert W. Baird boosted their target price on Rubrik from $95.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Rosenblatt Securities boosted their target price on Rubrik from $82.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Finally, Wells Fargo & Company boosted their target price on Rubrik from $80.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Rubrik presently has an average rating of "Moderate Buy" and an average target price of $100.38.

Rubrik 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.