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 holdings in Rubrik, Inc. (NYSE:RBRK - Free Report) by 20.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,159 shares of the company's stock after purchasing an additional 3,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Rubrik were worth $1,351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC increased its position in Rubrik by 172.6% during the 4th quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after purchasing an additional 2,065,444 shares during the period. Voloridge Investment Management LLC acquired a new position in shares of Rubrik in the 4th quarter valued at approximately $85,331,000. Bank of America Corp DE raised its stake in shares of Rubrik by 1,305.1% in the 4th quarter. Bank of America Corp DE now owns 1,116,804 shares of the company's stock valued at $72,994,000 after purchasing an additional 1,037,319 shares in the last quarter. Renaissance Technologies LLC bought a new position in Rubrik during the 4th quarter worth approximately $64,530,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Rubrik during the first quarter worth $52,092,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Roth Capital increased their price objective on Rubrik from $97.00 to $107.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Mizuho cut Rubrik from an "outperform" rating to a "neutral" rating and lifted their price target for the stock from $75.00 to $86.00 in a research note on Thursday, May 15th. Wells Fargo & Company increased their price target 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. Piper Sandler dropped their target price on Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Robert W. Baird raised their price target on shares of Rubrik from $95.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $100.38.

Insiders Place Their Bets

In other Rubrik news, Director Ravi Mhatre sold 16,984 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $89.47, for a total transaction of $1,519,558.48. Following the completion of the transaction, the director owned 81,842 shares of the company's stock, valued at approximately $7,322,403.74. This trade represents a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kiran Kumar Choudary sold 3,500 shares of Rubrik stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $83.90, for a total transaction of $293,650.00. Following the sale, the chief financial officer owned 520,095 shares of the company's stock, valued at approximately $43,635,970.50. This trade represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,125,047 shares of company stock valued at $102,701,034. Corporate insiders own 32.38% of the company's stock.

Rubrik Stock Up 4.7%

Shares of RBRK stock traded up $4.10 during trading on Wednesday, hitting $91.64. 2,069,751 shares of the stock traded hands, compared to its average volume of 3,470,852. Rubrik, Inc. has a 52-week low of $29.18 and a 52-week high of $103.00. The firm's fifty day moving average price is $89.82 and its 200-day moving average price is $76.77.

Rubrik (NYSE:RBRK - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) 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 analysts' expectations of $260.39 million. The business's revenue for the quarter was up 48.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.58) earnings per share. On average, equities research analysts anticipate that Rubrik, Inc. will post -7.66 EPS for the current 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.