XTX Topco Ltd Purchases 28,290 Shares of Rubrik, Inc. (NYSE:RBRK)

Key Points

• XTX Topco Ltd increased its holdings in Rubrik, Inc. by 113.1% in Q1, now owning 53,297 shares valued at approximately $3.25 million.
• Insider activity saw significant sales, including Director Enrique T. Salem selling 700,000 shares for over $63.76 million, while insiders sold a total of 1.21 million shares in the last three months.
• Rubrik's latest earnings report showed a narrower loss than expected, with revenue of $278.48 million and a projected average EPS of -7.66 for the fiscal year.

XTX Topco Ltd grew its stake in Rubrik, Inc. (NYSE:RBRK - Free Report) by 113.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,297 shares of the company's stock after buying an additional 28,290 shares during the period. XTX Topco Ltd's holdings in Rubrik were worth $3,250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Rubrik in the fourth quarter worth about $28,000. Nemes Rush Group LLC bought a new position in Rubrik during the fourth quarter valued at about $39,000. Point72 Hong Kong Ltd bought a new position in Rubrik during the fourth quarter valued at about $47,000. Quarry LP bought a new position in Rubrik during the fourth quarter valued at about $48,000. Finally, CoreCap Advisors LLC bought a new position in Rubrik during the fourth quarter valued at about $59,000. Institutional investors and hedge funds own 49.54% of the company's stock.

Analysts Set New Price Targets

RBRK has been the topic of several research reports. Wedbush boosted their price target on Rubrik from $80.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Mizuho downgraded Rubrik from an "outperform" rating to a "neutral" rating and lifted their price objective for the company from $75.00 to $86.00 in a report on Thursday, May 15th. Piper Sandler decreased their price objective on Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Guggenheim lifted their price objective on Rubrik from $105.00 to $108.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Robert W. Baird lifted their price objective on Rubrik from $95.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $100.38.

Insider Activity at Rubrik

In other Rubrik news, Director John Wendell Thompson sold 9,009 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $85.96, for a total transaction of $774,413.64. Following the completion of the sale, the director owned 998 shares in the company, valued at approximately $85,788.08. The trade was a 90.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ravi Mhatre sold 16,984 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $89.47, for a total transaction of $1,519,558.48. Following the sale, the director owned 81,842 shares of the company's stock, valued at $7,322,403.74. The trade was a 17.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,175,506 shares of company stock worth $106,223,064. 32.38% of the stock is owned by company insiders.

Rubrik Stock Down 7.6%

NYSE:RBRK traded down $7.23 during trading hours on Friday, hitting $87.72. 5,995,843 shares of the stock were exchanged, compared to its average volume of 3,275,305. The company's 50 day moving average is $89.95 and its two-hundred day moving average is $76.39. Rubrik, Inc. has a twelve month low of $28.60 and a twelve month high of $103.00. The company has a market capitalization of $16.97 billion, a P/E ratio of -31.00 and a beta of 0.45.

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