LPL Financial LLC Acquires 4,543 Shares of Rubrik, Inc. (NYSE:RBRK)

Key Points

• LPL Financial LLC increased its holdings in Rubrik, Inc. by 4.8%, acquiring an additional 4,543 shares during the first quarter, raising its total ownership to 99,814 shares valued at approximately $6.1 million.
• Rubrik's revenue rose by 48.7% year-over-year to $278.48 million, significantly exceeding analysts' expectations, while reported earnings per share were -$0.15, beating estimates by $0.17.
• Several institutional investors have made substantial investments in Rubrik, with BNP Paribas increasing its stake by 2,899.7% and UBS AM raising its stake by 168.2% in the fourth quarter.

LPL Financial LLC grew its holdings in Rubrik, Inc. (NYSE:RBRK - Free Report) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 99,814 shares of the company's stock after acquiring an additional 4,543 shares during the quarter. LPL Financial LLC owned 0.05% of Rubrik worth $6,087,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RBRK. Voloridge Investment Management LLC acquired a new position in Rubrik in the fourth quarter valued at about $85,331,000. Green Alpha Advisors LLC raised its stake in Rubrik by 53.4% in the first quarter. Green Alpha Advisors LLC now owns 8,114 shares of the company's stock valued at $495,000 after purchasing an additional 2,824 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Rubrik by 2,899.7% in the fourth quarter. BNP Paribas Financial Markets now owns 313,765 shares of the company's stock valued at $20,508,000 after purchasing an additional 303,305 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Rubrik by 168.2% in the fourth 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 purchasing an additional 418,457 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Rubrik by 14.0% in the fourth quarter. Ameriprise Financial Inc. now owns 29,213 shares of the company's stock valued at $1,909,000 after purchasing an additional 3,593 shares in the last quarter. Institutional investors own 49.54% of the company's stock.

Rubrik Price Performance

NYSE:RBRK opened at $85.69 on Tuesday. The business has a 50 day moving average of $89.21 and a 200 day moving average of $77.32. The company has a market capitalization of $16.58 billion, a price-to-earnings ratio of -30.28 and a beta of 0.45. Rubrik, Inc. has a 1-year low of $29.18 and a 1-year high of $103.00.

Rubrik (NYSE:RBRK - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates of ($0.32) by $0.17. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.58) EPS. As a group, sell-side analysts anticipate that Rubrik, Inc. will post -7.66 EPS for the current year.

Insiders Place Their Bets

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $100.18, for a total transaction of $2,504,500.00. Following the transaction, the executive directly owned 454,584 shares of the company's stock, valued at approximately $45,540,225.12. The trade was a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Arvind Nithrakashyap sold 43,128 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $88.56, for a total value of $3,819,415.68. Following the transaction, the chief technology officer directly owned 38,122 shares in the company, valued at $3,376,084.32. This trade represents a 53.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,083,547 shares of company stock valued at $99,409,279 over the last three months. 32.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Guggenheim boosted their target price on Rubrik from $105.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Roth Capital boosted their target price on Rubrik from $97.00 to $107.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Oppenheimer reaffirmed a "market perform" rating on shares of Rubrik in a research note on Friday, June 6th. UBS Group reaffirmed a "buy" rating on shares of Rubrik in a research note on Friday, June 6th. Finally, Truist Financial upped their price objective on Rubrik from $90.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Rubrik currently has an average rating of "Moderate Buy" and a consensus target price of $100.38.

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.

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