Point72 Asset Management L.P. Has $16.59 Million Stake in Rubrik, Inc. (NYSE:RBRK)

Point72 Asset Management L.P. lowered its holdings in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 80.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 253,774 shares of the company's stock after selling 1,060,288 shares during the quarter. Point72 Asset Management L.P. owned 0.14% of Rubrik worth $16,587,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. Russell Investments Group Ltd. purchased a new position in Rubrik during the 4th quarter valued at about $28,000. Global Retirement Partners LLC boosted its holdings in Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock worth $33,000 after acquiring an additional 500 shares in the last quarter. Nemes Rush Group LLC acquired a new stake in Rubrik in the 4th quarter worth approximately $39,000. Point72 Hong Kong Ltd acquired a new position in shares of Rubrik in the 4th quarter valued at $47,000. Finally, Quarry LP purchased a new position in shares of Rubrik in the fourth quarter worth about $48,000. Institutional investors own 49.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. William Blair initiated coverage on Rubrik in a report on Friday, February 7th. They issued a "market perform" rating for the company. Robert W. Baird decreased their target price on shares of Rubrik from $83.00 to $76.00 and set an "outperform" rating for the company in a research note on Wednesday, March 12th. Mizuho lowered shares of Rubrik from an "outperform" rating to a "neutral" rating and raised their price target for the company from $75.00 to $86.00 in a research report on Thursday, May 15th. Wedbush upped their price objective on shares of Rubrik from $75.00 to $80.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. Finally, Cantor Fitzgerald increased their target price on shares of Rubrik from $85.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Rubrik currently has an average rating of "Buy" and an average price target of $71.05.

Insider Activity

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,485 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $63.77, for a total transaction of $2,071,568.45. Following the transaction, the chief technology officer now directly owns 219,279 shares of the company's stock, valued at $13,983,421.83. This represents a 12.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $63.15, for a total value of $1,578,750.00. Following the completion of the transaction, the executive now owns 356,043 shares in the company, valued at $22,484,115.45. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 592,117 shares of company stock worth $40,192,998 in the last three months.

Rubrik Trading Up 2.6%

NYSE:RBRK traded up $2.27 during midday trading on Tuesday, hitting $88.99. 2,152,691 shares of the stock were exchanged, compared to its average volume of 2,042,877. The business has a 50-day moving average price of $68.33 and a two-hundred day moving average price of $64.79. The company has a market capitalization of $16.89 billion and a price-to-earnings ratio of -6.46. Rubrik, Inc. has a one year low of $28.34 and a one year high of $89.13.

Rubrik (NYSE:RBRK - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The firm had revenue of $258.10 million during the quarter, compared to analyst estimates of $233.13 million. The firm's revenue was up 47.5% compared to the same quarter last year. During the same period last year, the company posted ($1.59) earnings per share. Sell-side analysts forecast that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Rubrik Company 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.