Liberty Mutual Group Asset Management Inc. Invests $1.09 Million in Rubrik, Inc. (NYSE:RBRK)

Key Points

• Liberty Mutual Group Asset Management Inc. invested approximately $1.09 million in Rubrik, Inc., acquiring 17,912 shares, making it the fund's 8th biggest holding.
• Several analysts have increased their price targets for Rubrik, with CIBC raising theirs from $110.00 to $125.00 and Robert W. Baird boosting theirs from $95.00 to $110.00.
• Rubrik's latest quarterly report showed revenue of $278.48 million, up 48.7% year-over-year, and an EPS of ($0.15), exceeding analyst expectations.

Liberty Mutual Group Asset Management Inc. bought a new position in Rubrik, Inc. (NYSE:RBRK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,912 shares of the company's stock, valued at approximately $1,092,000. Rubrik comprises about 0.4% of Liberty Mutual Group Asset Management Inc.'s investment portfolio, making the stock its 8th biggest holding.

Several other large investors have also recently made changes to their positions in RBRK. Russell Investments Group Ltd. bought a new stake in Rubrik during the fourth quarter worth approximately $28,000. Nemes Rush Group LLC purchased a new position in shares of Rubrik during the fourth quarter valued at approximately $39,000. KBC Group NV boosted its position in shares of Rubrik by 24.6% during the first quarter. KBC Group NV now owns 3,337 shares of the company's stock valued at $203,000 after buying an additional 658 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Rubrik during the fourth quarter valued at approximately $47,000. Finally, Quarry LP purchased a new position in shares of Rubrik during the fourth quarter valued at approximately $48,000. 49.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. CIBC boosted their target price on Rubrik from $110.00 to $125.00 and gave the company an "outperformer" rating in a research report on Monday, June 9th. Wall Street Zen upgraded Rubrik from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Robert W. Baird boosted their target price on Rubrik from $95.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, June 6th. Truist Financial boosted their target price on Rubrik from $90.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Wedbush boosted their target price on Rubrik from $80.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Rubrik presently has an average rating of "Moderate Buy" and a consensus target price of $100.38.

Rubrik Stock Down 0.4%

Shares of NYSE:RBRK opened at $95.07 on Friday. The company has a market capitalization of $18.39 billion, a price-to-earnings ratio of -33.59 and a beta of 0.46. Rubrik, Inc. has a 52 week low of $28.60 and a 52 week high of $103.00. The firm has a 50 day moving average of $90.05 and a 200 day moving average of $76.23.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) EPS for the quarter, topping analysts' consensus estimates of ($0.32) by $0.17. The business had revenue of $278.48 million during the quarter, compared to the consensus estimate of $260.39 million. The business's quarterly revenue was up 48.7% on a year-over-year basis. During the same period last year, the firm earned ($1.58) EPS. On average, sell-side analysts expect that Rubrik, Inc. will post -7.66 EPS for the current year.

Insider Buying and Selling at Rubrik

In related news, Director Enrique T. Salem sold 700,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $91.09, for a total value of $63,763,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Arvind Nithrakashyap sold 43,128 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $88.56, for a total transaction of $3,819,415.68. Following the completion of the transaction, the chief technology officer directly owned 38,122 shares of the company's stock, valued at $3,376,084.32. This trade represents a 53.08% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,175,506 shares of company stock worth $106,223,064. 32.38% of the stock is currently owned by corporate insiders.

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.

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