20,000 Shares in Rubrik, Inc. (NYSE:RBRK) Acquired by Valliance Asset Management Ltd

Key Points

• Valliance Asset Management Ltd invested approximately $1.22 million in Rubrik, Inc., acquiring 20,000 shares, which now represents 2.8% of its investment portfolio.
• Insider trading activity included Rubrik's CFO selling 3,500 shares and a director selling 2,000 shares, indicating recent adjustments in their positions.
• Several analysts have raised their price targets for Rubrik, with Wedbush setting a new target of $120.00, while the stock currently has an average rating of "Moderate Buy".

Valliance Asset Management Ltd bought a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,000 shares of the company's stock, valued at approximately $1,220,000. Rubrik accounts for approximately 2.8% of Valliance Asset Management Ltd's portfolio, making the stock its 11th biggest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Russell Investments Group Ltd. purchased a new position in shares of Rubrik in the fourth quarter valued at $28,000. Nemes Rush Group LLC purchased a new position in shares of Rubrik in the fourth quarter valued at $39,000. Point72 Hong Kong Ltd purchased a new position in shares of Rubrik in the fourth quarter valued at $47,000. Quarry LP purchased a new position in shares of Rubrik in the fourth quarter valued at $48,000. Finally, CoreCap Advisors LLC purchased a new position in shares of Rubrik in the fourth quarter valued at $59,000. Institutional investors and hedge funds own 49.54% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RBRK. Robert W. Baird raised their price target on Rubrik from $95.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, June 6th. Wedbush lifted their price objective on Rubrik from $80.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Oppenheimer reiterated a "market perform" rating on shares of Rubrik in a research report on Friday, June 6th. Guggenheim lifted their price objective on Rubrik from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, CIBC lifted their price objective on Rubrik from $110.00 to $125.00 and gave the stock an "outperformer" rating in a research report on Monday, June 9th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $100.38.

Rubrik Price Performance

NYSE:RBRK traded down $7.95 during mid-day trading on Friday, reaching $87.01. The company's stock had a trading volume of 4,968,579 shares, compared to its average volume of 3,055,176. The company's fifty day simple moving average is $90.05 and its two-hundred day simple moving average is $76.23. Rubrik, Inc. has a twelve month low of $28.60 and a twelve month high of $103.00. The stock has a market cap of $16.83 billion, a P/E ratio of -30.67 and a beta of 0.46.

Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.17. The firm had revenue of $278.48 million during the quarter, compared to analyst estimates of $260.39 million. The business's revenue for the quarter was up 48.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.58) earnings per share. Sell-side analysts expect that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Insider Transactions at Rubrik

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $90.10, for a total transaction of $2,252,500.00. Following the transaction, the executive directly owned 504,584 shares of the company's stock, valued at approximately $45,463,018.40. The trade was a 4.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Enrique T. Salem sold 700,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $91.09, for a total value of $63,763,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,175,506 shares of company stock valued at $106,223,064. 32.38% of the stock is currently owned by company insiders.

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.