US Bancorp DE Grows Stock Holdings in Rubrik, Inc. (NYSE:RBRK)

Key Points

• US Bancorp DE increased its ownership in Rubrik, Inc. by 80.3% during Q1, acquiring an additional 15,698 shares to hold 35,245 shares worth approximately $2.15 million.
• Research analysts have recently raised their price targets for Rubrik, with several firms setting targets as high as $120.00 and $110.00, reflecting a strong outlook for the stock.
• Rubrik reported 48.7% year-over-year revenue growth for the most recent quarter, resulting in an earnings per share of ($0.15), surpassing the consensus estimate significantly.

US Bancorp DE increased its stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 80.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,245 shares of the company's stock after buying an additional 15,698 shares during the quarter. US Bancorp DE's holdings in Rubrik were worth $2,149,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in Rubrik in the fourth quarter valued at about $28,000. Point72 Hong Kong Ltd acquired a new stake in Rubrik in the fourth quarter valued at about $47,000. Quarry LP acquired a new stake in Rubrik in the fourth quarter valued at about $48,000. CoreCap Advisors LLC acquired a new stake in Rubrik in the fourth quarter valued at about $59,000. Finally, NewEdge Advisors LLC acquired a new stake in Rubrik in the fourth quarter valued at about $62,000. Hedge funds and other institutional investors own 49.54% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Mizuho downgraded shares of Rubrik from an "outperform" rating to a "neutral" rating and raised their price objective for the company from $75.00 to $86.00 in a research report on Thursday, May 15th. Guggenheim raised their price objective on shares of Rubrik from $105.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Cantor Fitzgerald raised their price objective on shares of Rubrik from $95.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Rosenblatt Securities raised their price objective on shares of Rubrik from $82.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Wedbush lifted their price target on shares of Rubrik from $80.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $100.38.

Rubrik Stock Up 2.0%

Shares of RBRK traded up $1.69 during mid-day trading on Tuesday, reaching $87.39. 606,781 shares of the company's stock were exchanged, compared to its average volume of 3,029,363. The company has a 50-day simple moving average of $89.21 and a two-hundred day simple moving average of $77.32. Rubrik, Inc. has a 52-week low of $29.18 and a 52-week high of $103.00. The company has a market cap of $16.91 billion, a price-to-earnings ratio of -31.00 and a beta of 0.45.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates of ($0.32) by $0.17. The business had revenue of $278.48 million for the quarter, compared to analysts' expectations of $260.39 million. During the same period last year, the business earned ($1.58) earnings per share. The company's revenue for the quarter was up 48.7% on a year-over-year basis. As a group, equities research analysts predict that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Insider Buying and Selling at Rubrik

In other news, CTO Arvind Nithrakashyap sold 43,128 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $88.56, for a total transaction of $3,819,415.68. Following the completion of the transaction, the chief technology officer directly owned 38,122 shares of the company's stock, valued at $3,376,084.32. This trade represents a 53.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kiran Kumar Choudary sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $100.24, for a total transaction of $3,007,200.00. Following the transaction, the chief financial officer directly owned 521,665 shares of the company's stock, valued at approximately $52,291,699.60. This trade represents a 5.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,083,547 shares of company stock valued at $99,409,279. Company insiders own 32.38% of the company's stock.

About Rubrik

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.