US Bancorp DE Buys 15,698 Shares of 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 boosted its stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 80.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in shares of Rubrik during the fourth quarter valued at approximately $28,000. KBC Group NV increased its holdings in Rubrik by 24.6% during the 1st quarter. KBC Group NV now owns 3,337 shares of the company's stock worth $203,000 after purchasing an additional 658 shares during the period. Point72 Hong Kong Ltd bought a new stake in Rubrik during the 4th quarter valued at $47,000. Quarry LP purchased a new stake in shares of Rubrik in the 4th quarter worth $48,000. Finally, CWM LLC grew its position in shares of Rubrik by 282.2% during the 1st quarter. CWM LLC now owns 1,051 shares of the company's stock worth $64,000 after buying an additional 776 shares in the last quarter. 49.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Rosenblatt Securities increased their target price on shares of Rubrik from $82.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, June 6th. BMO Capital Markets reiterated an "outperform" rating and set a $110.00 price objective (up from $77.00) on shares of Rubrik in a research note on Friday, June 6th. Wedbush lifted their price objective on shares of Rubrik from $80.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Roth Capital upped their target price on Rubrik from $97.00 to $107.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Finally, KeyCorp reaffirmed an "overweight" rating and set a $113.00 target price (up previously from $98.00) on shares of Rubrik in a research report on Friday, June 6th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $100.38.

Rubrik Stock Performance

Shares of RBRK stock opened at $89.87 on Friday. Rubrik, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $103.00. The firm has a market capitalization of $17.39 billion, a price-to-earnings ratio of -31.76 and a beta of 0.45. The stock's 50-day simple moving average is $89.65 and its 200-day simple moving average is $77.02.

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

Insider Transactions at Rubrik

In other Rubrik news, CTO Arvind Nithrakashyap sold 43,128 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $88.56, for a total transaction of $3,819,415.68. Following the sale, the chief technology officer owned 38,122 shares in the company, valued at approximately $3,376,084.32. The trade was a 53.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Brian K. Mccarthy sold 25,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $98.20, for a total value of $2,455,000.00. Following the completion of the transaction, the executive owned 479,584 shares of the company's stock, valued at approximately $47,095,148.80. The trade was a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,128,547 shares of company stock worth $103,010,329. 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.

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