Rubrik, Inc. (NYSE:RBRK) Shares Sold by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC reduced its holdings in Rubrik, Inc. by 5.2%, owning 394,276 shares valued at approximately $24 million, as reported in a recent SEC filing.
• Rubrik's stock has experienced a 0.7% decline recently, with trading at $85.08 and a market cap of $16.46 billion.
• The company reported an earnings per share (EPS) of ($0.15), surpassing analyst expectations, and achieved a 48.7% year-over-year revenue growth with $278.48 million in revenue for the last quarter.

ARK Investment Management LLC reduced its position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 394,276 shares of the company's stock after selling 21,548 shares during the period. ARK Investment Management LLC owned about 0.21% of Rubrik worth $24,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of RBRK. Russell Investments Group Ltd. acquired a new position in Rubrik during the 4th quarter worth approximately $28,000. Nemes Rush Group LLC purchased a new stake in Rubrik during the 4th quarter worth about $39,000. KBC Group NV increased its holdings in shares of Rubrik by 24.6% in the 1st quarter. KBC Group NV now owns 3,337 shares of the company's stock valued at $203,000 after acquiring an additional 658 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Rubrik during the 4th quarter worth about $47,000. Finally, Quarry LP acquired a new stake in shares of Rubrik during the 4th quarter worth about $48,000. 49.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Rubrik

In related news, Director Yvonne Wassenaar sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $88.21, for a total transaction of $176,420.00. Following the sale, the director owned 2,855 shares in the company, valued at approximately $251,839.55. This trade represents a 41.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kiran Kumar Choudary sold 3,500 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $83.90, for a total value of $293,650.00. Following the completion of the sale, the chief financial officer directly owned 520,095 shares in the company, valued at approximately $43,635,970.50. The trade was a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,233,015 shares of company stock worth $110,293,527 in the last quarter. Insiders own 32.38% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of Rubrik from $95.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, June 6th. CIBC lifted their target price on 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 target price on Rubrik from $80.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. KeyCorp reiterated an "overweight" rating and issued a $113.00 price objective (up previously from $98.00) on shares of Rubrik in a research note on Friday, June 6th. Finally, Wells Fargo & Company raised their target price on shares of Rubrik from $80.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.38.

Rubrik Trading Up 2.6%

Rubrik stock traded up $2.20 during mid-day trading on Monday, reaching $87.20. The company had a trading volume of 2,199,813 shares, compared to its average volume of 3,148,960. The stock's 50-day simple moving average is $89.81 and its 200-day simple moving average is $75.80. Rubrik, Inc. has a 1 year low of $28.60 and a 1 year high of $103.00.

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