Voloridge Investment Management LLC Makes New $85.33 Million Investment in Rubrik, Inc. (NYSE:RBRK)

Voloridge Investment Management LLC purchased a new position in Rubrik, Inc. (NYSE:RBRK - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,305,558 shares of the company's stock, valued at approximately $85,331,000. Voloridge Investment Management LLC owned about 0.70% of Rubrik at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of RBRK. Norges Bank acquired a new stake in Rubrik in the 4th quarter worth $277,395,000. Vanguard Group Inc. grew its position in Rubrik by 114.1% in the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock worth $413,610,000 after purchasing an additional 3,372,323 shares during the last quarter. FMR LLC grew its position in Rubrik by 172.6% in the 4th quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after purchasing an additional 2,065,444 shares during the last quarter. Bank of America Corp DE grew its position in Rubrik by 1,305.1% in the 4th quarter. Bank of America Corp DE now owns 1,116,804 shares of the company's stock worth $72,994,000 after purchasing an additional 1,037,319 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Rubrik in the 4th quarter worth $64,530,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Rubrik Stock Up 1.5%

Shares of RBRK stock opened at $86.62 on Tuesday. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month high of $87.50. The company has a market capitalization of $16.44 billion and a P/E ratio of -6.29. The firm has a 50-day moving average price of $67.66 and a 200 day moving average price of $64.62.

Rubrik (NYSE:RBRK - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The company had revenue of $258.10 million for the quarter, compared to analysts' expectations of $233.13 million. During the same period in the prior year, the company earned ($1.59) earnings per share. The firm's revenue was up 47.5% compared to the same quarter last year. As a group, research analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

RBRK has been the topic of several recent research reports. Robert W. Baird decreased their target price on shares of Rubrik from $83.00 to $76.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 12th. Mizuho lowered shares of Rubrik from an "outperform" rating to a "neutral" rating and lifted their target price for the company from $75.00 to $86.00 in a research report on Thursday, May 15th. Roth Capital initiated coverage on shares of Rubrik in a research report on Thursday, May 15th. They set a "buy" rating and a $97.00 target price on the stock. Piper Sandler decreased their target price on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, UBS Group reiterated a "buy" rating on shares of Rubrik in a research report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Rubrik has an average rating of "Buy" and a consensus price target of $71.05.

Insider Transactions at Rubrik

In other news, Director Yvonne Wassenaar sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $70.03, for a total transaction of $210,090.00. Following the transaction, the director now directly owns 153 shares in the company, valued at approximately $10,714.59. This represents a 95.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $52.04, for a total transaction of $1,690,467.36. Following the transaction, the chief technology officer now owns 186,795 shares in the company, valued at $9,720,811.80. The trade was a 14.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 592,117 shares of company stock worth $40,192,998.

Rubrik Company 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.

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