Rubrik, Inc. (NYSE:RBRK) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Rubrik, Inc. by 20.7% in Q1, holding 22,159 shares valued at approximately $1.35 million.
• Rubrik reported earnings per share of ($0.15), surpassing estimates, alongside revenue of $278.48 million, reflecting a 48.7% year-over-year increase.
• Several analysts have upgraded their price targets for Rubrik, with Wells Fargo raising theirs from $80 to $125 and maintaining an "overweight" rating.

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Rubrik, Inc. (NYSE:RBRK - Free Report) by 20.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,159 shares of the company's stock after acquiring an additional 3,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Rubrik were worth $1,351,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RBRK. Russell Investments Group Ltd. purchased a new stake in Rubrik during the fourth quarter worth about $28,000. Point72 Hong Kong Ltd purchased a new stake in shares of Rubrik in the fourth quarter valued at about $47,000. Quarry LP purchased a new stake in shares of Rubrik in the fourth quarter valued at about $48,000. CoreCap Advisors LLC purchased a new stake in shares of Rubrik in the fourth quarter valued at about $59,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Rubrik in the fourth quarter valued at about $62,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on RBRK. CIBC upped their price target on shares of Rubrik from $110.00 to $125.00 and gave the company an "outperformer" rating in a report on Monday, June 9th. Wells Fargo & Company upped their price target on shares of Rubrik from $80.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, June 6th. BMO Capital Markets reissued an "outperform" rating and set a $110.00 price objective (up previously from $77.00) on shares of Rubrik in a research note on Friday, June 6th. Wall Street Zen raised shares of Rubrik from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Finally, Cantor Fitzgerald upped their price objective on shares of Rubrik from $95.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Rubrik presently has a consensus rating of "Moderate Buy" and an average price target of $100.38.

Insider Buying and Selling at Rubrik

In related news, Director Enrique T. Salem sold 700,000 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $91.09, for a total transaction of $63,763,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kiran Kumar Choudary sold 30,000 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $100.24, for a total transaction of $3,007,200.00. Following the sale, the chief financial officer directly owned 521,665 shares of the company's stock, valued at approximately $52,291,699.60. The trade was a 5.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,128,547 shares of company stock worth $103,010,329. 32.38% of the stock is currently owned by insiders.

Rubrik Stock Down 2.6%

Shares of RBRK stock traded down $2.31 during mid-day trading on Friday, reaching $87.43. The company's stock had a trading volume of 1,358,019 shares, compared to its average volume of 3,048,924. The company's 50 day simple moving average is $89.65 and its 200-day simple moving average is $77.02. Rubrik, Inc. has a 12-month low of $29.18 and a 12-month high of $103.00. The firm has a market capitalization of $16.92 billion, a PE ratio of -30.88 and a beta of 0.45.

Rubrik (NYSE:RBRK - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported ($0.15) EPS for the quarter, beating analysts' consensus estimates of ($0.32) by $0.17. The business had revenue of $278.48 million during the quarter, compared to analysts' expectations of $260.39 million. During the same period in the prior year, the business posted ($1.58) EPS. The business's revenue was up 48.7% on a year-over-year basis. As a group, 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.