Northern Trust Corp Increases Stock Holdings in Rubrik, Inc. $RBRK

Key Points

• Northern Trust Corp increased its stake in Rubrik, Inc. by 23.1%, owning 236,649 shares worth approximately $14.43 million as of the end of the most recent quarter.
• Rubrik reported earnings of ($0.15) per share, surpassing estimates and showing a 48.7% increase in revenue year-over-year, totaling $278.48 million for the quarter.
• Fifteen analysts have given Rubrik a Buy rating, with a consensus average price target of $100.38 for the stock.

Northern Trust Corp lifted its holdings in Rubrik, Inc. (NYSE:RBRK - Free Report) by 23.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 236,649 shares of the company's stock after purchasing an additional 44,373 shares during the period. Northern Trust Corp owned 0.12% of Rubrik worth $14,431,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Voloridge Investment Management LLC bought a new position in Rubrik in the 4th quarter worth $85,331,000. Green Alpha Advisors LLC boosted its position 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 buying an additional 2,824 shares in the last quarter. BNP Paribas Financial Markets boosted its position 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 buying an additional 303,305 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Rubrik by 168.2% during 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 worth $43,610,000 after purchasing an additional 418,457 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Rubrik by 14.0% during the fourth quarter. Ameriprise Financial Inc. now owns 29,213 shares of the company's stock worth $1,909,000 after purchasing an additional 3,593 shares in the last quarter. Institutional investors own 49.54% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. KeyCorp reissued an "overweight" rating and set a $113.00 price target (up from $98.00) on shares of Rubrik in a research note on Friday, June 6th. Roth Capital increased their price objective on shares of Rubrik from $97.00 to $107.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Guggenheim increased their target price on shares of Rubrik from $105.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Wells Fargo & Company increased their target price on shares of Rubrik from $80.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Finally, Robert W. Baird increased their price target on shares of Rubrik from $95.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, June 6th. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Rubrik has a consensus rating of "Moderate Buy" and a consensus price target of $100.38.

Insider Buying and Selling

In related news, major shareholder Lightspeed Management Company, sold 16,984 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $89.47, for a total value of $1,519,558.48. Following the transaction, the insider directly owned 59,182 shares of the company's stock, valued at approximately $5,295,013.54. The trade was a 22.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $85.97, for a total transaction of $2,149,250.00. Following the sale, the executive directly owned 431,052 shares in the company, valued at approximately $37,057,540.44. This trade represents a 5.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 914,086 shares of company stock worth $82,614,503 in the last ninety days. Corporate insiders own 32.38% of the company's stock.

Rubrik Trading Up 5.0%

NYSE:RBRK traded up $4.30 during mid-day trading on Friday, hitting $90.85. 2,917,547 shares of the company's stock were exchanged, compared to its average volume of 2,057,461. The firm has a market capitalization of $17.58 billion, a P/E ratio of -32.10 and a beta of 0.43. Rubrik, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $103.00. The company has a 50 day simple moving average of $87.76 and a 200-day simple moving average of $78.93.

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