Rakuten Securities Inc. Has $87,000 Stock Holdings in Rubrik, Inc. (NYSE:RBRK)

Rakuten Securities Inc. trimmed its stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 79.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,428 shares of the company's stock after selling 5,685 shares during the quarter. Rakuten Securities Inc.'s holdings in Rubrik were worth $87,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Rubrik by 114.1% in the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock valued at $413,610,000 after purchasing an additional 3,372,323 shares in the last quarter. Norges Bank acquired a new stake in Rubrik during the fourth quarter worth about $277,395,000. FMR LLC increased its holdings in Rubrik by 172.6% in the 4th quarter. FMR LLC now owns 3,261,925 shares of the company's stock valued at $213,199,000 after buying an additional 2,065,444 shares during the period. First Trust Advisors LP raised its position in shares of Rubrik by 26.6% in the 4th quarter. First Trust Advisors LP now owns 3,156,035 shares of the company's stock valued at $206,278,000 after buying an additional 662,914 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Rubrik by 27.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company's stock valued at $129,359,000 after buying an additional 427,149 shares in the last quarter. 49.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. BMO Capital Markets reiterated an "outperform" rating and set a $110.00 price target (up previously from $77.00) on shares of Rubrik in a research report on Friday, June 6th. Wall Street Zen upgraded Rubrik from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Rosenblatt Securities lifted their price target on Rubrik from $82.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Robert W. Baird boosted their price target on Rubrik from $95.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Finally, UBS Group restated a "buy" rating on shares of Rubrik in a research report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $100.38.

Insider Activity

In related news, CRO Brian K. Mccarthy sold 85,001 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $70.04, for a total value of $5,953,470.04. Following the transaction, the executive now owns 433,909 shares of the company's stock, valued at approximately $30,390,986.36. This trade represents a 16.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique T. Salem sold 700,000 shares of Rubrik stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $91.09, for a total value of $63,763,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,363,109 shares of company stock worth $115,074,453 over the last quarter. 32.38% of the stock is currently owned by corporate insiders.

Rubrik Trading Down 3.0%

Shares of NYSE RBRK opened at $89.20 on Wednesday. The firm's 50-day moving average price is $80.09 and its 200-day moving average price is $71.35. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $103.00. The firm has a market capitalization of $17.26 billion, a P/E ratio of -31.52 and a beta of 0.87.

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

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