Renaissance Technologies LLC Has $18.49 Million Position in Rubrik, Inc. $RBRK

Key Points

• Renaissance Technologies cut its Rubrik stake by 47.8% in the first quarter, selling 345,900 shares and retaining a position worth approximately $18.49 million. Institutional investors collectively own 49.54% of Rubrik.
• Rubrik reported quarterly earnings of $0.16 per share, exceeding estimates, while revenue rose 39% year over year to $387.07 million. Shares opened at $71.52, below the analyst consensus price target of $93.96.
• Analyst sentiment remains broadly positive, with 28 Buy ratings and one Sell rating, though insiders sold $23.33 million of stock over the past three months. Rubrik provides cloud data management, backup, disaster recovery and security services.

Renaissance Technologies LLC cut its holdings in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 47.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 377,489 shares of the company's stock after selling 345,900 shares during the period. Renaissance Technologies LLC owned about 0.19% of Rubrik worth $18,486,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Rubrik by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 14,694,503 shares of the company's stock worth $1,123,836,000 after acquiring an additional 1,678,255 shares during the period. First Trust Advisors LP increased its position in Rubrik by 42.8% during the 4th quarter. First Trust Advisors LP now owns 7,064,057 shares of the company's stock valued at $540,259,000 after purchasing an additional 2,116,272 shares during the period. Norges Bank acquired a new stake in Rubrik during the 4th quarter valued at approximately $345,907,000. Pictet Asset Management Holding SA raised its holdings in Rubrik by 104.1% during the 1st quarter. Pictet Asset Management Holding SA now owns 3,325,503 shares of the company's stock worth $162,572,000 after purchasing an additional 1,696,342 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Rubrik by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 2,528,649 shares of the company's stock worth $193,433,000 after purchasing an additional 178,714 shares during the last quarter. 49.54% of the stock is owned by institutional investors.

Rubrik Stock Performance

Shares of NYSE:RBRK opened at $71.52 on Friday. The company has a market capitalization of $14.72 billion, a P/E ratio of -49.32 and a beta of 1.10. The company's 50-day moving average is $75.81 and its 200 day moving average is $62.73. Rubrik, Inc. has a fifty-two week low of $42.25 and a fifty-two week high of $99.75.

Rubrik (NYSE:RBRK - Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.19. The firm had revenue of $387.07 million for the quarter, compared to the consensus estimate of $366.31 million. Rubrik's revenue for the quarter was up 39.0% on a year-over-year basis. During the same period last year, the company posted ($0.15) earnings per share. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. As a group, research analysts predict that Rubrik, Inc. will post -1.16 earnings per share for the current year.

Insider Activity

In other news, Director Ravi Mhatre sold 3,979 shares of the business's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $71.49, for a total transaction of $284,458.71. Following the completion of the transaction, the director directly owned 113,477 shares in the company, valued at $8,112,470.73. The trade was a 3.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yvonne Wassenaar sold 2,838 shares of the business's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $75.00, for a total value of $212,850.00. Following the transaction, the director owned 2,326 shares of the company's stock, valued at approximately $174,450. The trade was a 54.96% 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. Insiders sold a total of 277,821 shares of company stock worth $23,325,371 in the last three months. Insiders own 13.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Rubrik in a research note on Friday, June 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rubrik in a research note on Wednesday, June 24th. Guggenheim reiterated a "buy" rating on shares of Rubrik in a research report on Friday, June 5th. Jefferies Financial Group set a $90.00 target price on shares of Rubrik in a research note on Friday, June 5th. Finally, Robert W. Baird raised their price target on shares of Rubrik from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, June 11th. Twenty-eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $93.96.

Rubrik Profile

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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