Rubrik, Inc. (NYSE:RBRK) Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Rubrik, Inc. by 9.7%, owning approximately 6.94 million shares valued at $423.51 million.
• Several hedge funds have recently acquired stakes in Rubrik, leading to institutional investors holding 49.54% of the company's stock.
• Rubrik reported a 48.7% year-over-year increase in revenue for the last quarter, with earnings per share improving from ($1.58) to ($0.15), exceeding expectations.

Vanguard Group Inc. grew its stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 9.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,945,101 shares of the company's stock after buying an additional 616,917 shares during the period. Vanguard Group Inc. owned 3.66% of Rubrik worth $423,512,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in Rubrik in the 4th quarter worth approximately $28,000. PNC Financial Services Group Inc. bought a new stake in shares of Rubrik during the first quarter worth $30,000. Point72 Hong Kong Ltd acquired a new position in Rubrik during the fourth quarter worth $47,000. Quarry LP acquired a new stake in shares of Rubrik during the 4th quarter worth about $48,000. Finally, CoreCap Advisors LLC bought a new position in Rubrik during the fourth quarter worth about $59,000. Institutional investors and hedge funds own 49.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Rubrik from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. Cantor Fitzgerald increased their price target on shares of Rubrik from $95.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Mizuho cut shares of Rubrik from an "outperform" rating to a "neutral" rating and raised their target price for the stock from $75.00 to $86.00 in a report on Thursday, May 15th. Oppenheimer reaffirmed a "market perform" rating on shares of Rubrik in a research report on Friday, June 6th. Finally, Rosenblatt Securities boosted their price objective on Rubrik from $82.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $100.38.

Insider Buying and Selling

In related news, CFO Kiran Kumar Choudary sold 3,500 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $88.37, for a total value of $309,295.00. Following the completion of the sale, the chief financial officer owned 518,595 shares of the company's stock, valued at approximately $45,828,240.15. The trade was a 0.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Brian K. Mccarthy sold 12,500 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $87.29, for a total transaction of $1,091,125.00. Following the completion of the transaction, the executive directly owned 418,552 shares in the company, valued at $36,535,404.08. The trade was a 2.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,080,047 shares of company stock valued at $99,115,944 in the last three months. Corporate insiders own 32.38% of the company's stock.

Rubrik Stock Performance

Rubrik stock traded up $1.31 during midday trading on Friday, reaching $85.76. 2,337,539 shares of the stock were exchanged, compared to its average volume of 2,965,460. The company's fifty day moving average is $88.28 and its 200-day moving average is $77.72. The firm has a market cap of $16.59 billion, a PE ratio of -30.30 and a beta of 0.45. Rubrik, Inc. has a 52 week low of $29.18 and a 52 week high of $103.00.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating 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. The company's revenue was up 48.7% on a year-over-year basis. During the same period last year, the business earned ($1.58) earnings per share. On average, sell-side analysts anticipate that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

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.