NewSquare Capital LLC Purchases Shares of 78,031 Rubrik, Inc. $RBRK

Key Points

• NewSquare Capital opened a new position in Rubrik by acquiring 78,031 shares in the 3rd quarter, valued at roughly $6.42 million.
• Insider selling was notable last quarter — insiders sold 261,378 shares worth $19.38 million (including sales by a director and the CTO), though insiders still own 32.38% of the company.
• Rubrik recently beat quarterly expectations with $0.10 EPS vs. a ($0.16) estimate and $350.17 million in revenue (up 48.3% YoY); analysts rate the stock a "Moderate Buy" with an average price target of $102.11.

NewSquare Capital LLC acquired a new position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 78,031 shares of the company's stock, valued at approximately $6,418,000.

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

Insiders Place Their Bets

In other Rubrik news, Director John Wendell Thompson sold 2,500 shares of Rubrik stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $53.55, for a total transaction of $133,875.00. Following the completion of the transaction, the director directly owned 22,500 shares of the company's stock, valued at $1,204,875. The trade was a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Arvind Nithrakashyap sold 4,648 shares of the company's stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $70.40, for a total transaction of $327,219.20. Following the completion of the transaction, the chief technology officer owned 337,010 shares in the company, valued at approximately $23,725,504. This represents a 1.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 261,378 shares of company stock worth $19,381,131 in the last quarter. Insiders own 32.38% of the company's stock.

Rubrik Stock Performance

Rubrik stock opened at $54.80 on Thursday. The stock has a 50-day simple moving average of $62.13 and a 200 day simple moving average of $73.23. The stock has a market capitalization of $10.97 billion, a P/E ratio of -28.10 and a beta of 0.45. Rubrik, Inc. has a 52 week low of $46.36 and a 52 week high of $103.00.

Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly earnings data on Thursday, December 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.26. The business had revenue of $350.17 million during the quarter, compared to the consensus estimate of $320.19 million. During the same quarter in the prior year, the company earned ($0.21) EPS. Rubrik's quarterly revenue was up 48.3% on a year-over-year basis. Research analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

RBRK has been the topic of several recent research reports. Piper Sandler lowered their price target on shares of Rubrik from $118.00 to $99.00 and set an "overweight" rating on the stock in a research note on Monday, January 5th. Mizuho lowered their target price on Rubrik from $97.00 to $80.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 17th. Berenberg Bank began coverage on Rubrik in a report on Tuesday, November 18th. They set a "buy" rating and a $114.00 target price on the stock. Barclays decreased their price target on Rubrik from $100.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Robert W. Baird boosted their price target on Rubrik from $120.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $102.11.

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).

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