Renaissance Capital LLC Has $3.46 Million Holdings in Rubrik, Inc. (NYSE:RBRK)

Renaissance Capital LLC reduced its position in Rubrik, Inc. (NYSE:RBRK - Free Report) by 22.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,715 shares of the company's stock after selling 16,060 shares during the period. Rubrik makes up 2.7% of Renaissance Capital LLC's investment portfolio, making the stock its 16th largest holding. Renaissance Capital LLC's holdings in Rubrik were worth $3,458,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of RBRK. Stablepoint Partners LLC grew its holdings in Rubrik by 45.9% during the 1st quarter. Stablepoint Partners LLC now owns 17,595 shares of the company's stock valued at $1,073,000 after buying an additional 5,533 shares in the last quarter. Hamilton Lane Advisors LLC grew its stake in Rubrik by 210.3% in the first quarter. Hamilton Lane Advisors LLC now owns 105,573 shares of the company's stock worth $6,438,000 after purchasing an additional 71,547 shares during the period. Green Alpha Advisors LLC grew its stake in Rubrik by 53.4% in the first quarter. Green Alpha Advisors LLC now owns 8,114 shares of the company's stock worth $495,000 after purchasing an additional 2,824 shares during the period. Rhumbline Advisers grew its stake in shares of Rubrik by 204.1% in the first quarter. Rhumbline Advisers now owns 2,980 shares of the company's stock worth $182,000 after acquiring an additional 2,000 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Rubrik by 22.1% in the fourth quarter. California State Teachers Retirement System now owns 56,279 shares of the company's stock worth $3,678,000 after acquiring an additional 10,191 shares during the last quarter. 49.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on RBRK. Truist Financial increased their target price on Rubrik from $90.00 to $110.00 and gave the company a "buy" rating in a report on Friday. William Blair started coverage on Rubrik in a research note on Friday, February 7th. They set a "market perform" rating on the stock. Rosenblatt Securities lifted their target price on Rubrik from $82.00 to $110.00 and gave the stock a "buy" rating in a report on Friday. Wedbush reiterated an "outperform" rating and issued a $120.00 target price (up previously from $80.00) on shares of Rubrik in a report on Friday. Finally, Wells Fargo & Company lifted their target price on Rubrik from $80.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday. Three equities research 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 data from MarketBeat.com, Rubrik currently has an average rating of "Moderate Buy" and a consensus price target of $95.81.

Rubrik Stock Performance

Shares of RBRK stock opened at $98.03 on Friday. The stock's 50-day simple moving average is $75.32 and its 200-day simple moving average is $69.25. The firm has a market capitalization of $18.60 billion, a PE ratio of -34.64 and a beta of 0.87. Rubrik, Inc. has a fifty-two week low of $28.34 and a fifty-two week high of $103.00.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.32) by $0.17. The business had revenue of $278.48 million for the quarter, compared to analysts' expectations of $260.39 million. The business's revenue for the quarter was up 48.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.58) EPS. Sell-side analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Insider Activity

In other Rubrik news, Director Yvonne Wassenaar sold 2,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $99.98, for a total transaction of $199,960.00. Following the completion of the sale, the director now owns 153 shares of the company's stock, valued at $15,296.94. This trade represents a 92.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kiran Kumar Choudary sold 3,500 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.81, for a total value of $293,335.00. Following the transaction, the chief financial officer now directly owns 565,165 shares of the company's stock, valued at $47,366,478.65. The trade was a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 632,609 shares of company stock worth $47,450,968 over the last quarter. 32.38% of the stock is currently owned by corporate insiders.

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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