Toronto Dominion Bank Buys New Position in Rubrik, Inc. (NYSE:RBRK)

Toronto Dominion Bank acquired a new position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 25,007 shares of the company's stock, valued at approximately $1,634,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RBRK. Perpetual Ltd acquired a new position in Rubrik in the fourth quarter valued at approximately $281,000. Geneos Wealth Management Inc. acquired a new position in Rubrik in the fourth quarter valued at approximately $70,000. Stablepoint Partners LLC acquired a new position in Rubrik in the fourth quarter valued at approximately $788,000. PFG Investments LLC acquired a new position in Rubrik in the fourth quarter valued at approximately $239,000. Finally, KBC Group NV boosted its holdings in Rubrik by 19.1% in the fourth quarter. KBC Group NV now owns 2,679 shares of the company's stock valued at $175,000 after purchasing an additional 430 shares in the last quarter. 49.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RBRK. Cantor Fitzgerald upped their price target on Rubrik from $85.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Rosenblatt Securities raised Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 price objective for the company in a report on Wednesday, March 12th. Mizuho cut Rubrik from an "outperform" rating to a "neutral" rating and upped their price target for the stock from $75.00 to $86.00 in a research note on Thursday, May 15th. BMO Capital Markets upped their price target on Rubrik from $72.00 to $77.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Finally, Roth Capital initiated coverage on Rubrik in a research note on Thursday, May 15th. They set a "buy" rating and a $97.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $77.69.

Rubrik Trading Up 3.0%

Shares of RBRK stock traded up $2.85 during mid-day trading on Thursday, reaching $96.94. The stock had a trading volume of 1,302,857 shares, compared to its average volume of 2,070,125. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month high of $98.03. The company has a market cap of $18.40 billion and a P/E ratio of -7.02. The business has a 50-day simple moving average of $70.98 and a 200 day simple moving average of $66.66.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to analyst estimates of $233.13 million. The firm's revenue was up 47.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.59) earnings per share. Research analysts anticipate that Rubrik, Inc. will post -7.66 EPS for the current year.

Insider Activity at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 87,971 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $70.04, for a total value of $6,161,488.84. Following the sale, the chief financial officer now directly owns 413,458 shares of the company's stock, valued at approximately $28,958,598.32. This trade represents a 17.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $90.10, for a total value of $2,252,500.00. Following the completion of the transaction, the executive now owns 504,584 shares in the company, valued at approximately $45,463,018.40. This trade represents a 4.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 627,117 shares of company stock valued at $43,346,198 over the last quarter. Insiders own 32.38% of the company's stock.

Rubrik Profile

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.