Neuberger Berman Group LLC Raises Position in Rubrik, Inc. $RBRK

Key Points

• Neuberger Berman boosted its stake in Rubrik by 1,669% in Q3 to 589,208 shares, a position worth about $48.5 million (≈0.30% of the company).
• Rubrik beat expectations for the quarter, reporting $0.10 EPS versus -$0.16 expected and revenue of $350.17M (up 48.3% year-over-year).
• Analysts are broadly positive with an average rating of "Moderate Buy" and an average price target of $101.05 (current price around $57), though some firms like Barclays have lowered their targets.

Neuberger Berman Group LLC grew its holdings in Rubrik, Inc. (NYSE:RBRK - Free Report) by 1,669.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 589,208 shares of the company's stock after acquiring an additional 555,900 shares during the period. Neuberger Berman Group LLC owned about 0.30% of Rubrik worth $48,462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of RBRK. Comerica Bank raised its stake in shares of Rubrik by 209.0% in the first quarter. Comerica Bank now owns 584 shares of the company's stock valued at $36,000 after acquiring an additional 395 shares in the last quarter. Royal Bank of Canada grew its stake in Rubrik by 231.3% during the 1st quarter. Royal Bank of Canada now owns 29,320 shares of the company's stock worth $1,789,000 after purchasing an additional 20,471 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Rubrik by 31.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,250 shares of the company's stock worth $76,000 after purchasing an additional 300 shares during the period. Goldman Sachs Group Inc. raised its position in Rubrik by 33.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 940,351 shares of the company's stock valued at $57,343,000 after purchasing an additional 236,181 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Rubrik by 204.1% in the 1st quarter. Rhumbline Advisers now owns 2,980 shares of the company's stock valued at $182,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 49.54% of the company's stock.

Wall Street Analysts Forecast Growth

RBRK has been the subject of a number of analyst reports. Barclays lowered their price objective on Rubrik from $100.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday. Guggenheim set a $110.00 price target on shares of Rubrik in a report on Friday, December 5th. Berenberg Bank assumed coverage on shares of Rubrik in a research report on Tuesday, November 18th. They issued a "buy" rating and a $114.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Rubrik in a research report on Friday, December 5th. Finally, William Blair upgraded shares of Rubrik from a "market perform" rating to an "outperform" rating in a research note on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Rubrik has an average rating of "Moderate Buy" and an average price target of $101.05.

Rubrik Price Performance

Shares of RBRK opened at $57.36 on Friday. The firm has a fifty day moving average price of $61.25 and a 200 day moving average price of $72.92. The stock has a market cap of $11.48 billion, a PE ratio of -29.42 and a beta of 0.45. Rubrik, Inc. has a 1-year low of $46.36 and a 1-year high of $103.00.

Rubrik (NYSE:RBRK - Get Free Report) last posted its earnings results on Thursday, December 4th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $0.26. The firm had revenue of $350.17 million for the quarter, compared to analyst estimates of $320.19 million. The firm's revenue for the quarter was up 48.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) EPS. As a group, equities analysts expect that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Insider Activity at Rubrik

In other news, Director John Wendell Thompson sold 11,000 shares of the firm's stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $73.84, for a total transaction of $812,240.00. Following the transaction, the director directly owned 2,702 shares in the company, valued at approximately $199,515.68. This trade represents a 80.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ravi Mhatre sold 101,659 shares of the firm's stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $81.82, for a total transaction of $8,317,739.38. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 261,378 shares of company stock valued at $19,381,131 over the last 90 days. 32.38% of the stock is owned by insiders.

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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