Truist Financial Corp Sells 27,896 Shares of Rubrik, Inc. $RBRK

Key Points

• Truist Financial Corp cut its Rubrik stake by 68.5% in the fourth quarter, selling 27,896 shares and ending with 12,856 shares worth about $983,000.
• Wall Street remains generally bullish on Rubrik, with an average “Moderate Buy” rating and a consensus price target of $84.83, despite one sell rating among the analysts covering the stock.
• Rubrik reported better-than-expected quarterly results, posting EPS of $0.04 versus an expected loss and revenue of $377.68 million, up 46.3% year over year. However, the company is still expected to post a loss for the current fiscal year.

Truist Financial Corp reduced its stake in Rubrik, Inc. (NYSE:RBRK - Free Report) by 68.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,856 shares of the company's stock after selling 27,896 shares during the period. Truist Financial Corp's holdings in Rubrik were worth $983,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RBRK. Vanguard Group Inc. boosted its holdings in shares of Rubrik by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 14,694,503 shares of the company's stock worth $1,123,836,000 after acquiring an additional 1,678,255 shares during the period. Federated Hermes Inc. boosted its stake in Rubrik by 101.8% during the third quarter. Federated Hermes Inc. now owns 2,437,768 shares of the company's stock valued at $200,506,000 after buying an additional 1,229,476 shares during the period. AQR Capital Management LLC bought a new stake in Rubrik during the third quarter valued at $97,828,000. State Street Corp boosted its stake in Rubrik by 139.7% during the second quarter. State Street Corp now owns 1,771,475 shares of the company's stock valued at $158,706,000 after buying an additional 1,032,497 shares during the period. Finally, Invesco Ltd. boosted its stake in Rubrik by 364.8% during the third quarter. Invesco Ltd. now owns 1,074,025 shares of the company's stock valued at $88,339,000 after buying an additional 842,939 shares during the period. 49.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RBRK has been the subject of several research analyst reports. DA Davidson set a $70.00 price objective on Rubrik in a research note on Friday, March 13th. BMO Capital Markets lifted their price objective on Rubrik from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Wolfe Research initiated coverage on Rubrik in a research note on Friday, May 1st. They set an "outperform" rating and a $70.00 price objective for the company. BTIG Research initiated coverage on Rubrik in a research note on Friday, March 20th. They set a "buy" rating and a $64.00 price objective for the company. Finally, Mizuho dropped their price objective on Rubrik from $97.00 to $80.00 and set an "outperform" rating for the company in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Rubrik currently has an average rating of "Moderate Buy" and an average target price of $84.83.

Rubrik Stock Up 1.7%

Shares of RBRK stock opened at $63.89 on Friday. The business has a 50-day moving average price of $53.19 and a two-hundred day moving average price of $62.83. Rubrik, Inc. has a 12-month low of $42.25 and a 12-month high of $103.00. The firm has a market cap of $12.92 billion, a P/E ratio of -36.09 and a beta of 0.63.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.15. The firm had revenue of $377.68 million for the quarter, compared to the consensus estimate of $342.43 million. During the same period last year, the firm earned ($0.18) EPS. The company's revenue for the quarter was up 46.3% on a year-over-year basis. Rubrik has set its Q1 2027 guidance at -0.040--0.020 EPS and its FY 2027 guidance at 0.070-0.270 EPS. As a group, research analysts expect that Rubrik, Inc. will post -1.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark D. Mclaughlin purchased 10,638 shares of the company's stock in a transaction on Monday, March 30th. The stock was purchased at an average price of $47.21 per share, with a total value of $502,219.98. Following the completion of the purchase, the director directly owned 13,639 shares in the company, valued at approximately $643,897.19. This trade represents a 354.48% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kiran Kumar Choudary sold 20,000 shares of Rubrik stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $51.69, for a total value of $1,033,800.00. Following the sale, the chief financial officer directly owned 549,901 shares of the company's stock, valued at approximately $28,424,382.69. This trade represents a 3.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 203,113 shares of company stock valued at $10,160,197 over the last 90 days. Insiders own 13.66% of the company's stock.

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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