Legal & General Group Plc Acquires 151,234 Shares of Rubrik, Inc. $RBRK

Key Points

• Legal & General Group Plc increased its Rubrik stake by 8.6% in the fourth quarter, buying 151,234 additional shares and bringing its holdings to about 1.9 million shares valued at roughly $145.7 million.
• Several other large institutional investors also boosted their positions, and nearly 49.5% of Rubrik’s stock is now held by institutions, highlighting continued Wall Street interest in the cybersecurity company.
• Rubrik reported strong quarterly results, posting $0.04 EPS versus expectations for a loss and revenue of $377.68 million, up 46.3% year over year; analysts currently rate the stock a Moderate Buy with an average price target of $85.32.

Legal & General Group Plc lifted its holdings in Rubrik, Inc. (NYSE:RBRK - Free Report) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,904,810 shares of the company's stock after buying an additional 151,234 shares during the quarter. Legal & General Group Plc owned about 0.95% of Rubrik worth $145,680,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Rubrik by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 14,694,503 shares of the company's stock valued at $1,123,836,000 after buying an additional 1,678,255 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Rubrik by 10.9% in the third quarter. First Trust Advisors LP now owns 4,947,785 shares of the company's stock valued at $406,955,000 after buying an additional 485,080 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Rubrik by 7.0% in the second quarter. Bank of America Corp DE now owns 2,073,044 shares of the company's stock valued at $185,724,000 after buying an additional 136,262 shares during the last quarter. State Street Corp raised its holdings in shares of Rubrik by 139.7% in the second quarter. State Street Corp now owns 1,771,475 shares of the company's stock valued at $158,706,000 after buying an additional 1,032,497 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Rubrik by 24.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,629,161 shares of the company's stock valued at $124,658,000 after buying an additional 314,816 shares during the last quarter. 49.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Robert W. Baird cut their price target on Rubrik from $125.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, March 6th. The Goldman Sachs Group lowered their price objective on Rubrik from $120.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, February 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rubrik in a research report on Friday, March 27th. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective (down from $99.00) on shares of Rubrik in a research report on Friday, March 13th. Finally, Jefferies Financial Group began coverage on Rubrik in a research report on Monday, April 27th. They issued a "buy" rating and a $65.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Rubrik has an average rating of "Moderate Buy" and an average price target of $85.32.

Insider Transactions at Rubrik

In other news, CFO Kiran Kumar Choudary sold 122,613 shares of the business's stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $48.20, for a total transaction of $5,909,946.60. Following the completion of the transaction, the chief financial officer directly owned 564,901 shares in the company, valued at approximately $27,228,228.20. The trade was a 17.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark D. Mclaughlin bought 10,638 shares of the firm's stock in a transaction dated Monday, March 30th. The shares were bought at an average price of $47.21 per share, with a total value of $502,219.98. Following the completion of the transaction, the director directly owned 13,639 shares in the company, valued at approximately $643,897.19. This trade represents a 354.48% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 183,113 shares of company stock worth $9,076,797. 13.66% of the stock is currently owned by company insiders.

Rubrik Stock Performance

RBRK opened at $70.32 on Friday. The company has a fifty day moving average price of $55.24 and a two-hundred day moving average price of $62.29. Rubrik, Inc. has a 52 week low of $42.25 and a 52 week high of $103.00. The firm has a market capitalization of $14.22 billion, a PE ratio of -39.73 and a beta of 0.63.

Rubrik (NYSE:RBRK - Get Free Report) last released its earnings results on Thursday, March 12th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.15. The business had revenue of $377.68 million for the quarter, compared to analyst estimates of $342.43 million. Rubrik's revenue was up 46.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.18) EPS. Rubrik has set its Q1 2027 guidance at -0.040--0.020 EPS and its FY 2027 guidance at 0.070-0.270 EPS. Equities analysts forecast that Rubrik, Inc. will post -1.45 EPS for the current year.

Rubrik Company 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).

Want to see what other hedge funds are holding RBRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rubrik, Inc. (NYSE:RBRK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.