Neuberger Berman Group LLC Takes Position in Rubrik, Inc. (NYSE:RBRK)

Key Points

• Neuberger Berman Group LLC invested approximately $2.84 million in Rubrik, Inc. by purchasing 46,563 shares during the first quarter.
• Rubrik reported a quarterly revenue increase of 48.7% year-over-year, with earnings per share of ($0.15), surpassing estimates by $0.17.
• Analysts maintain a "Moderate Buy" rating for Rubrik, with an average price target of $100.38 per share, reflecting confidence in the company’s growth prospects.

Neuberger Berman Group LLC purchased a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 46,563 shares of the company's stock, valued at approximately $2,839,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RBRK. Caitong International Asset Management Co. Ltd grew its position in shares of Rubrik by 28.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,912 shares of the company's stock worth $361,000 after purchasing an additional 1,307 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Rubrik by 10,218.4% during the 1st quarter. Russell Investments Group Ltd. now owns 43,750 shares of the company's stock worth $2,768,000 after purchasing an additional 43,326 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Rubrik by 5.7% during the 1st quarter. HighTower Advisors LLC now owns 24,190 shares of the company's stock worth $1,475,000 after purchasing an additional 1,310 shares in the last quarter. Public Sector Pension Investment Board acquired a new position in shares of Rubrik during the 1st quarter worth approximately $3,659,000. Finally, Nuveen LLC acquired a new stake in shares of Rubrik during the 1st quarter worth approximately $1,713,000. Institutional investors and hedge funds own 49.54% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on RBRK. Guggenheim increased their price target on shares of Rubrik from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Rosenblatt Securities increased their price target on shares of Rubrik from $82.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Wells Fargo & Company increased their price target on shares of Rubrik from $80.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. CIBC increased their price objective on shares of Rubrik from $110.00 to $125.00 and gave the company an "outperformer" rating in a research note on Monday, June 9th. Finally, Wall Street Zen raised shares of Rubrik from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $100.38.

Insiders Place Their Bets

In other Rubrik news, Director Yvonne Wassenaar sold 2,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $88.21, for a total value of $176,420.00. Following the completion of the sale, the director directly owned 2,855 shares in the company, valued at approximately $251,839.55. This trade represents a 41.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Wendell Thompson sold 9,009 shares of the firm's stock in a transaction 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 completion of the sale, the director owned 998 shares of the company's stock, valued at $87,115.42. The trade was a 90.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,080,047 shares of company stock valued at $99,115,944. 32.38% of the stock is currently owned by corporate insiders.

Rubrik Price Performance

Shares of RBRK traded up $1.31 during trading hours on Friday, hitting $85.76. 2,337,539 shares of the stock were exchanged, compared to its average volume of 2,965,460. Rubrik, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $103.00. The business has a 50-day moving average of $88.28 and a 200-day moving average of $77.72. The firm has a market capitalization of $16.59 billion, a P/E ratio of -30.30 and a beta of 0.45.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) EPS for the quarter, topping analysts' consensus estimates of ($0.32) by $0.17. The company had revenue of $278.48 million during the quarter, compared to analyst estimates of $260.39 million. The company's revenue for the quarter was up 48.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.58) earnings per share. As a group, analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

About Rubrik

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.