Norges Bank Acquires Shares of 4,522,846 Rubrik, Inc. $RBRK

Norges Bank purchased a new position in Rubrik, Inc. (NYSE:RBRK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,522,846 shares of the company's stock, valued at approximately $345,907,000. Norges Bank owned 2.26% of Rubrik as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of RBRK. EverSource Wealth Advisors LLC lifted its position in shares of Rubrik by 1,360.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $30,000 after purchasing an additional 340 shares during the period. Financial Life Planners purchased a new stake in shares of Rubrik in the 3rd quarter worth approximately $31,000. Atlantic Union Bankshares Corp lifted its position in shares of Rubrik by 100.0% in the 4th quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company's stock worth $31,000 after purchasing an additional 200 shares during the period. Guerra Advisors Inc purchased a new stake in shares of Rubrik in the 3rd quarter worth approximately $33,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Rubrik in the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 49.54% of the company's stock.

Rubrik Stock Performance

Shares of NYSE RBRK opened at $85.20 on Tuesday. The company's fifty day moving average price is $56.47 and its 200 day moving average price is $62.38. Rubrik, Inc. has a 1 year low of $42.25 and a 1 year high of $103.00. The company has a market capitalization of $17.23 billion, a PE ratio of -48.13 and a beta of 1.09.

Rubrik (NYSE:RBRK - Get Free Report) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.15. The firm had revenue of $377.68 million for the quarter, compared to analysts' expectations of $342.43 million. During the same period last year, the company posted ($0.18) earnings per share. The business's quarterly revenue was up 46.3% on a year-over-year basis. Rubrik has set its Q1 2027 guidance at -0.040--0.020 EPS and its FY 2027 guidance at 0.070-0.270 EPS. On average, equities analysts expect that Rubrik, Inc. will post -1.45 EPS for the current year.

Analyst Ratings Changes

RBRK has been the subject of several recent analyst reports. Citigroup reduced their price objective on shares of Rubrik from $115.00 to $88.00 and set a "buy" rating for the company in a research note on Monday, March 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rubrik in a research note on Friday, March 27th. BMO Capital Markets boosted their price objective on shares of Rubrik from $58.00 to $64.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Truist Financial reduced their price objective on shares of Rubrik from $110.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday, February 17th. Finally, Scotiabank set a $70.00 price objective on shares of Rubrik and gave the stock a "sector outperform" rating in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $85.12.

Insider Activity

In related news, Director Mark D. Mclaughlin acquired 10,638 shares of the firm's stock in a transaction on Monday, March 30th. The shares were acquired at an average cost of $47.21 per share, with a total value of $502,219.98. Following the completion of the acquisition, the director directly owned 13,639 shares in the company, valued at approximately $643,897.19. This trade represents a 354.48% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kiran Kumar Choudary sold 20,000 shares of the stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $51.69, for a total transaction of $1,033,800.00. Following the transaction, the chief financial officer directly owned 549,901 shares in the company, valued at approximately $28,424,382.69. The trade was a 3.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 172,451 shares of company stock valued at $8,565,952. 13.66% of the stock is currently owned by corporate insiders.

About Rubrik

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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