Arizona State Retirement System Acquires 4,715 Shares of Rubrik, Inc. (NYSE:RBRK)

Arizona State Retirement System raised its position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 24.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,664 shares of the company's stock after purchasing an additional 4,715 shares during the quarter. Arizona State Retirement System's holdings in Rubrik were worth $1,443,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in Rubrik during the 4th quarter valued at $28,000. Nemes Rush Group LLC acquired a new position in shares of Rubrik during the fourth quarter worth $39,000. Point72 Hong Kong Ltd purchased a new stake in shares of Rubrik during the 4th quarter valued at $47,000. Quarry LP purchased a new position in Rubrik during the 4th quarter worth $48,000. Finally, CoreCap Advisors LLC acquired a new position in Rubrik during the 4th quarter valued at about $59,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Enrique T. Salem sold 700,000 shares of the company'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 this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $90.10, for a total transaction of $2,252,500.00. Following the completion of the sale, the executive owned 504,584 shares in the company, valued at approximately $45,463,018.40. This trade represents a 4.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,229,515 shares of company stock valued at $109,999,877 in the last three months. 32.38% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RBRK has been the subject of several analyst reports. Oppenheimer reissued a "market perform" rating on shares of Rubrik in a report on Friday, June 6th. Cantor Fitzgerald lifted their price target on Rubrik from $95.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Wall Street Zen raised Rubrik from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Guggenheim increased their target price on Rubrik from $105.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Truist Financial lifted their target price on shares of Rubrik from $90.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $100.38.

Rubrik Stock Up 1.3%

NYSE:RBRK traded up $1.09 during trading hours on Friday, reaching $88.02. 3,462,487 shares of the stock were exchanged, compared to its average volume of 2,597,929. The stock has a market capitalization of $17.03 billion, a P/E ratio of -31.10 and a beta of 0.46. Rubrik, Inc. has a 52 week low of $28.60 and a 52 week high of $103.00. The firm has a 50 day simple moving average of $89.61 and a 200-day simple moving average of $74.87.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) 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. During the same period in the prior year, the company posted ($1.58) EPS. Rubrik's quarterly revenue was up 48.7% on a year-over-year basis. As a group, analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current year.

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.