Rubrik, Inc. $RBRK Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Rubrik stake by 83.7% in the third quarter, selling 234,785 shares and retaining 45,663 shares valued at approximately $5.2 million. Institutional investors collectively own 49.54% of the company, with several other funds increasing their positions.
• Analysts remain broadly bullish: 29 rate Rubrik a Buy and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $115.56. Recent targets from BMO, Wedbush and Wolfe Research range from $115 to $120.
• Rubrik shares opened at $114.61, while the company’s latest results exceeded expectations with $0.20 in earnings per share on $427.26 million in revenue, up 43.9% year over year. Insiders sold 139,583 shares worth $13.5 million over the past three months, though the transactions were conducted under pre-arranged Rule 10b5-1 plans.

Assenagon Asset Management S.A. decreased its holdings in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 83.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,663 shares of the company's stock after selling 234,785 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Rubrik were worth $5,227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Pictet Asset Management Holding SA boosted its position in shares of Rubrik by 104.1% during the first quarter. Pictet Asset Management Holding SA now owns 3,325,503 shares of the company's stock worth $162,572,000 after purchasing an additional 1,696,342 shares in the last quarter. Congress Asset Management Co. grew its holdings in shares of Rubrik by 32.6% in the 3rd quarter. Congress Asset Management Co. now owns 715,550 shares of the company's stock valued at $81,909,000 after buying an additional 175,866 shares during the period. Stephens Investment Management Group LLC grew its holdings in shares of Rubrik by 17.4% in the 1st quarter. Stephens Investment Management Group LLC now owns 699,389 shares of the company's stock valued at $34,249,000 after buying an additional 103,538 shares during the period. Cetera Investment Advisers lifted its holdings in Rubrik by 36.6% during the first quarter. Cetera Investment Advisers now owns 87,025 shares of the company's stock worth $4,262,000 after acquiring an additional 23,320 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Rubrik by 37.5% during the first quarter. The Manufacturers Life Insurance Company now owns 57,372 shares of the company's stock worth $2,810,000 after acquiring an additional 15,643 shares in the last quarter. 49.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RBRK has been the subject of a number of research analyst reports. BMO Capital Markets boosted their target price on Rubrik from $98.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, August 28th. Scotiabank restated an "outperform" rating on shares of Rubrik in a report on Tuesday, August 25th. Wedbush assumed coverage on shares of Rubrik in a research note on Friday, September 11th. They issued an "outperform" rating and a $120.00 price target on the stock. Wolfe Research reaffirmed an "outperform" rating and issued a $120.00 target price on shares of Rubrik in a research note on Friday, August 28th. Finally, Loop Capital started coverage on Rubrik in a report on Monday, August 3rd. They issued a "buy" rating and a $100.00 price target on the stock. Twenty-nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $115.56.

Rubrik Stock Up 1.1%

RBRK stock opened at $114.61 on Wednesday. The company has a market cap of $23.76 billion, a price-to-earnings ratio of -90.96 and a beta of 1.12. Rubrik, Inc. has a twelve month low of $42.25 and a twelve month high of $127.90. The business has a 50 day moving average price of $105.77 and a two-hundred day moving average price of $82.05.

Rubrik (NYSE:RBRK - Get Free Report) last issued its earnings results on Thursday, August 27th. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.16. The firm had revenue of $427.26 million for the quarter, compared to analyst estimates of $396.30 million. Rubrik's quarterly revenue was up 43.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Rubrik has set its FY 2027 guidance at 0.470-0.530 EPS and its Q3 2027 guidance at 0.070-0.090 EPS. On average, equities research analysts anticipate that Rubrik, Inc. will post -1.19 EPS for the current fiscal year.

Insider Transactions at Rubrik

In other news, Director John Thompson sold 11,000 shares of Rubrik stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $74.10, for a total transaction of $815,100.00. Following the completion of the transaction, the director directly owned 8,362 shares in the company, valued at approximately $619,624.20. The trade was a 56.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Arvind Nithrakashyap sold 12,820 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $90.41, for a total value of $1,159,056.20. Following the transaction, the chief technology officer directly owned 293,293 shares in the company, valued at $26,516,620.13. The trade was a 4.19% 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. In the last three months, insiders sold 139,583 shares of company stock worth $13,515,814. 13.66% of the stock is owned by company insiders.

Rubrik Company Profile

Rubrik, Inc is a cybersecurity and data-management company that provides organizations with tools to protect, manage and recover data across on-premises infrastructure, cloud environments and software-as-a-service applications. Its platform is designed to help businesses maintain data availability, strengthen cyber resilience and recover operations following events such as ransomware attacks, system failures or other disruptions.

The company's Rubrik Security Cloud platform combines data backup, recovery, archival, monitoring and security capabilities.

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