Oppenheimer & Co. Inc. Invests $225,000 in Rubrik, Inc. (NYSE:RBRK)

Oppenheimer & Co. Inc. purchased a new position in Rubrik, Inc. (NYSE:RBRK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,693 shares of the company's stock, valued at approximately $225,000.

Other institutional investors have also added to or reduced their stakes in the company. Voloridge Investment Management LLC bought a new stake in Rubrik in the 4th quarter worth approximately $85,331,000. Green Alpha Advisors LLC grew its stake in Rubrik by 53.4% in the 1st quarter. Green Alpha Advisors LLC now owns 8,114 shares of the company's stock worth $495,000 after acquiring an additional 2,824 shares in the last quarter. BNP Paribas Financial Markets grew its stake 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 purchasing an additional 303,305 shares during the last quarter. FMR LLC boosted its stake in Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company's stock valued at $213,199,000 after acquiring an additional 2,065,444 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 buying an additional 418,457 shares during the period. Institutional investors own 49.54% of the company's stock.

Rubrik Stock Performance

Shares of RBRK stock traded up $2.74 during midday trading on Friday, reaching $88.32. 2,392,094 shares of the company were exchanged, compared to its average volume of 2,482,947. Rubrik, Inc. has a 12 month low of $28.60 and a 12 month high of $103.00. The company's 50 day moving average price is $86.80 and its two-hundred day moving average price is $73.43. The company has a market cap of $17.09 billion, a P/E ratio of -31.21 and a beta of 0.46.

Rubrik (NYSE:RBRK - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate 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 firm's revenue for the quarter was up 48.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.58) earnings per share. As a group, sell-side analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RBRK shares. Wall Street Zen raised shares of Rubrik from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. CIBC raised their price objective on shares of Rubrik from $110.00 to $125.00 and gave the stock an "outperformer" rating in a research report on Monday, June 9th. Wedbush boosted their price objective on shares of Rubrik from $80.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. BMO Capital Markets reissued an "outperform" rating and issued a $110.00 price objective (up previously from $77.00) on shares of Rubrik in a research report on Friday, June 6th. Finally, Roth Capital upped their price target 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. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $100.38.

Insider Activity

In related news, Director Enrique T. Salem sold 700,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $91.09, for a total value of $63,763,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Arvind Nithrakashyap sold 43,128 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $88.56, for a total value of $3,819,415.68. Following the sale, the chief technology officer owned 38,122 shares in the company, valued at approximately $3,376,084.32. This trade represents a 53.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,270,187 shares of company stock valued at $111,079,005 over the last three months. Corporate insiders own 32.38% of the company's stock.

Rubrik Profile

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.