Yong Rong HK Asset Management Ltd Takes Position in Rubrik, Inc. (NYSE:RBRK)

Yong Rong HK Asset Management Ltd bought a new position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 106,900 shares of the company's stock, valued at approximately $6,519,000. Rubrik accounts for about 1.5% of Yong Rong HK Asset Management Ltd's investment portfolio, making the stock its 16th biggest position. Yong Rong HK Asset Management Ltd owned 0.06% of Rubrik as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in RBRK. Voloridge Investment Management LLC bought a new position in Rubrik in the fourth quarter valued at approximately $85,331,000. Green Alpha Advisors LLC increased its stake in Rubrik by 53.4% in the first quarter. Green Alpha Advisors LLC now owns 8,114 shares of the company's stock valued at $495,000 after acquiring an additional 2,824 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Rubrik by 2,899.7% in the fourth quarter. BNP Paribas Financial Markets now owns 313,765 shares of the company's stock valued at $20,508,000 after acquiring an additional 303,305 shares during the last quarter. FMR LLC increased its stake in Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company's stock valued at $213,199,000 after acquiring an additional 2,065,444 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Rubrik by 168.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 667,229 shares of the company's stock valued at $43,610,000 after acquiring an additional 418,457 shares during the last quarter. 49.54% of the stock is owned by institutional investors.

Rubrik Stock Up 0.7%

RBRK traded up $0.62 during midday trading on Monday, hitting $89.70. The company had a trading volume of 3,661,732 shares, compared to its average volume of 2,491,086. Rubrik, Inc. has a 52 week low of $28.60 and a 52 week high of $103.00. The company has a market capitalization of $17.36 billion, a price-to-earnings ratio of -31.70 and a beta of 0.46. The stock's 50 day moving average price is $86.80 and its 200 day moving average price is $73.51.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $278.48 million during the quarter, compared to the consensus estimate of $260.39 million. During the same period last year, the firm posted ($1.58) earnings per share. The company's revenue for the quarter was up 48.7% on a year-over-year basis. Research analysts predict that Rubrik, Inc. will post -7.66 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RBRK. Wall Street Zen upgraded shares of Rubrik from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Piper Sandler cut 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. CIBC raised their target price on shares of Rubrik from $110.00 to $125.00 and gave the company an "outperformer" rating in a research report on Monday, June 9th. BMO Capital Markets restated an "outperform" rating and issued a $110.00 target price (up previously from $77.00) on shares of Rubrik in a research report on Friday, June 6th. Finally, Mizuho lowered shares of Rubrik from an "outperform" rating to a "neutral" rating and lifted their price target for the stock from $75.00 to $86.00 in a report on Thursday, May 15th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $100.38.

Insider Activity at Rubrik

In other news, major shareholder Lightspeed Management Company, sold 16,984 shares of the firm'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 insider owned 59,182 shares in the company, valued at approximately $5,295,013.54. This trade represents a 22.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kiran Kumar Choudary sold 3,500 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $91.00, for a total transaction of $318,500.00. Following the sale, the chief financial officer owned 523,095 shares in the company, valued at approximately $47,601,645. This trade represents a 0.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,237,703 shares of company stock worth $109,388,538 in the last ninety days. 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.