Rubrik, Inc. $RBRK Stock Position Boosted by BOCHK Asset Management Ltd

Key Points

• BOCHK Asset Management increased its Rubrik stake by 8,833.3% in the third quarter, ending with 26,800 shares valued at approximately $3.07 million. Institutional investors collectively own 49.54% of the company.
• Rubrik shares opened at $114.49 after declining 7.8%, with a 12-month range of $42.25 to $139.92. The company recently exceeded earnings and revenue estimates, reporting $427.26 million in quarterly revenue, up 43.9% year over year.
• Analysts remain broadly bullish, with 30 Buy ratings and one Sell rating, a “Moderate Buy” consensus, and an average price target of $118.04. Meanwhile, insiders sold 112,542 shares worth $11.5 million over the past 90 days under pre-arranged trading plans.

BOCHK Asset Management Ltd lifted its holdings in Rubrik, Inc. (NYSE:RBRK - Free Report) by 8,833.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,800 shares of the company's stock after purchasing an additional 26,500 shares during the quarter. BOCHK Asset Management Ltd's holdings in Rubrik were worth $3,068,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Rubrik in the third quarter valued at approximately $27,000. CoreCap Advisors LLC boosted its holdings in shares of Rubrik by 268.2% in the third quarter. CoreCap Advisors LLC now owns 545 shares of the company's stock valued at $62,000 after buying an additional 397 shares during the period. Essential Partners LLC increased its position in shares of Rubrik by 99.3% during the first quarter. Essential Partners LLC now owns 570 shares of the company's stock worth $28,000 after acquiring an additional 284 shares in the last quarter. Markowski Investments bought a new stake in shares of Rubrik during the second quarter worth $48,000. Finally, State of Wyoming bought a new stake in shares of Rubrik during the third quarter worth $84,000. 49.54% of the stock is owned by institutional investors.

Rubrik Trading Down 7.8%

NYSE RBRK opened at $114.49 on Tuesday. Rubrik, Inc. has a 12 month low of $42.25 and a 12 month high of $139.92. The stock has a 50 day moving average of $110.78 and a 200-day moving average of $76.99. The company has a market cap of $23.73 billion, a PE ratio of -90.87 and a beta of 1.12.

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. As a group, sell-side analysts predict that Rubrik, Inc. will post -1.19 EPS for the current fiscal year.

Insider Transactions at Rubrik

In related news, CTO Arvind Nithrakashyap sold 12,820 shares of Rubrik stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $83.71, for a total transaction of $1,073,162.20. Following the completion of the transaction, the chief technology officer owned 293,293 shares in the company, valued at approximately $24,551,557.03. This trade represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kiran Choudary sold 10,000 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $98.32, for a total value of $983,200.00. Following the transaction, the chief financial officer directly owned 978,073 shares in the company, valued at approximately $96,164,137.36. This trade represents a 1.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 112,542 shares of company stock worth $11,512,172 in the last ninety days. Insiders own 13.66% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RBRK. Piper Sandler raised their price objective on shares of Rubrik from $91.00 to $114.00 and gave the stock an "overweight" rating in a report on Friday, August 28th. Wells Fargo & Company upped their target price on shares of Rubrik from $90.00 to $120.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 25th. Telsey Advisory Group set a $120.00 target price on Rubrik in a report on Friday, August 28th. Truist Financial lifted their price target on Rubrik from $90.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, August 19th. Finally, UBS Group restated a "buy" rating and issued a $106.00 price target on shares of Rubrik in a report on Wednesday, August 19th. Thirty equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.04.

About Rubrik

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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