Rubrik, Inc. $RBRK Shares Sold by Alkeon Capital Management LLC

Key Points

• Alkeon Capital Management cut its Rubrik stake by 14.3% in the fourth quarter, selling 100,000 shares and ending with 600,000 shares valued at about $45.9 million.
• Analyst sentiment remains bullish, with 28 Buy ratings, just one Sell rating, and a consensus price target of $93.00; several firms recently raised targets into the high-$80s to low-$90s.
• Rubrik reported strong quarterly results, posting EPS of $0.16 versus expectations for a loss and revenue of $387.1 million, up 39% year over year, even as insiders continued to sell shares.

Alkeon Capital Management LLC lowered its position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 600,000 shares of the company's stock after selling 100,000 shares during the quarter. Alkeon Capital Management LLC owned about 0.30% of Rubrik worth $45,888,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Rubrik by 1,360.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $30,000 after buying an additional 340 shares during the period. Financial Life Planners acquired a new position in shares of Rubrik in the 3rd quarter valued at about $31,000. Atlantic Union Bankshares Corp lifted its holdings in shares of Rubrik by 100.0% in the 4th quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company's stock valued at $31,000 after buying an additional 200 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Rubrik in the 3rd quarter valued at about $34,000. Finally, Triumph Capital Management acquired a new position in shares of Rubrik in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 49.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Rubrik in a report on Friday, June 5th. Piper Sandler reissued an "overweight" rating and issued a $91.00 price objective (up from $84.00) on shares of Rubrik in a report on Friday, June 5th. Mizuho boosted their price objective on Rubrik from $80.00 to $90.00 and gave the company an "outperform" rating in a report on Friday, June 5th. BMO Capital Markets boosted their price objective on Rubrik from $73.00 to $87.00 and gave the company an "outperform" rating in a report on Friday, June 5th. Finally, Stephens restated an "overweight" rating and issued a $90.00 price target on shares of Rubrik in a research note on Monday. Twenty-eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $93.00.

Insider Transactions at Rubrik

In other news, Director John Wendell Thompson sold 2,500 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $84.51, for a total transaction of $211,275.00. Following the transaction, the director directly owned 15,000 shares in the company, valued at $1,267,650. The trade was a 14.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yvonne Wassenaar sold 721 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $80.73, for a total value of $58,206.33. Following the transaction, the director owned 2,326 shares in the company, valued at approximately $187,777.98. This represents a 23.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 398,939 shares of company stock valued at $27,628,167 in the last 90 days. Corporate insiders own 13.66% of the company's stock.

Rubrik Stock Up 2.4%

Shares of Rubrik stock opened at $69.83 on Tuesday. Rubrik, Inc. has a twelve month low of $42.25 and a twelve month high of $99.75. The business has a 50-day moving average price of $61.52 and a 200 day moving average price of $62.66. The firm has a market cap of $14.37 billion, a PE ratio of -48.16 and a beta of 1.09.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.19. The firm had revenue of $387.07 million for the quarter, compared to analysts' expectations of $366.31 million. During the same quarter last year, the firm posted ($0.15) earnings per share. Rubrik's quarterly revenue was up 39.0% on a year-over-year basis. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. On average, sell-side analysts expect that Rubrik, Inc. will post -1.16 EPS for the current year.

Rubrik Profile

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company's platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.