Rubrik, Inc. $RBRK Shares Sold by Atreides Management LP

Key Points

• Atreides Management cut its Rubrik position by 36.7% in the first quarter, selling 328,575 shares and retaining 566,454 shares valued at approximately $27.7 million.
• Rubrik reported stronger-than-expected quarterly results, with EPS of $0.16 versus a $0.03 loss estimate and revenue of $387.1 million, up 39% year over year.
• Despite recent insider and hedge-fund selling, analyst sentiment remains favorable: 28 analysts rate the stock Buy, one rates it Sell, and the consensus price target is $93.96 versus a recent price of $71.61.

Atreides Management LP lowered its position in Rubrik, Inc. (NYSE:RBRK - Free Report) by 36.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 566,454 shares of the company's stock after selling 328,575 shares during the period. Atreides Management LP owned about 0.28% of Rubrik worth $27,739,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in RBRK. Norges Bank purchased a new position in Rubrik in the fourth quarter worth $345,907,000. First Trust Advisors LP lifted its stake in shares of Rubrik by 42.8% in the fourth quarter. First Trust Advisors LP now owns 7,064,057 shares of the company's stock valued at $540,259,000 after purchasing an additional 2,116,272 shares during the period. Pictet Asset Management Holding SA boosted its holdings in 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 buying an additional 1,696,342 shares in the last quarter. Vanguard Group Inc. grew its position in Rubrik by 12.9% during the fourth quarter. Vanguard Group Inc. now owns 14,694,503 shares of the company's stock worth $1,123,836,000 after buying an additional 1,678,255 shares during the period. Finally, AQR Capital Management LLC acquired a new position in Rubrik during the third quarter worth about $97,828,000. Hedge funds and other institutional investors own 49.54% of the company's stock.

Rubrik Stock Down 4.3%

NYSE:RBRK opened at $71.61 on Wednesday. The business's 50 day moving average is $75.56 and its two-hundred day moving average is $62.72. Rubrik, Inc. has a 52 week low of $42.25 and a 52 week high of $99.75. The company has a market cap of $14.74 billion, a PE ratio of -49.39 and a beta of 1.10.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RBRK shares. BMO Capital Markets lifted their price target on shares of Rubrik from $87.00 to $98.00 and gave the company an "outperform" rating in a research report on Friday, July 10th. Citigroup increased their price objective on shares of Rubrik from $88.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 5th. KeyCorp raised their price target on Rubrik from $88.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. BTIG Research reissued a "buy" rating and set a $91.00 price objective on shares of Rubrik in a research note on Thursday, June 11th. Finally, Stephens restated an "overweight" rating and issued a $90.00 price target on shares of Rubrik in a report on Monday, June 15th. Twenty-eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.96.

Insider Transactions at Rubrik

In related news, Director John Wendell Thompson sold 11,000 shares of Rubrik stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $82.65, for a total value of $909,150.00. Following the transaction, the director owned 8,362 shares of the company's stock, valued at approximately $691,119.30. This trade represents a 56.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Mhatre sold 3,979 shares of the business's stock in a transaction on Monday, July 13th. The shares were sold at an average price of $83.10, for a total transaction of $330,654.90. Following the sale, the director directly owned 125,351 shares in the company, valued at approximately $10,416,668.10. This trade represents a 3.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 291,321 shares of company stock worth $24,074,426 in the last three months. 13.66% of the stock is currently owned by company insiders.

About Rubrik

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).

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