Freestone Grove Partners LP Invests $6.32 Million in Rubrik, Inc. (NYSE:RBRK)

Freestone Grove Partners LP purchased a new stake in Rubrik, Inc. (NYSE:RBRK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 96,668 shares of the company's stock, valued at approximately $6,318,000. Freestone Grove Partners LP owned approximately 0.05% of Rubrik at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RBRK. Wealthcare Advisory Partners LLC lifted its stake in shares of Rubrik by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company's stock valued at $683,000 after purchasing an additional 300 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Rubrik during the fourth quarter worth about $28,000. KBC Group NV increased its position in shares of Rubrik by 19.1% during the fourth quarter. KBC Group NV now owns 2,679 shares of the company's stock valued at $175,000 after acquiring an additional 430 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock valued at $33,000 after acquiring an additional 500 shares during the last quarter. Finally, Nemes Rush Group LLC acquired a new position in shares of Rubrik in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 49.54% of the company's stock.

Wall Street Analysts Forecast Growth

RBRK has been the topic of a number of research analyst reports. BMO Capital Markets boosted their target price on Rubrik from $72.00 to $77.00 and gave the company an "outperform" rating in a research report on Friday, March 14th. Citigroup increased their price target on shares of Rubrik from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Cantor Fitzgerald reiterated an "overweight" rating and set a $85.00 target price on shares of Rubrik in a report on Friday, March 14th. Wells Fargo & Company boosted their price target on shares of Rubrik from $76.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. Finally, Robert W. Baird decreased their target price on Rubrik from $83.00 to $76.00 and set an "outperform" rating for the company in a report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $68.83.

Insider Activity

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $71.44, for a total value of $1,786,000.00. Following the sale, the executive now directly owns 554,217 shares in the company, valued at approximately $39,593,262.48. The trade was a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,485 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $74.85, for a total value of $2,431,502.25. Following the sale, the chief technology officer now owns 219,279 shares of the company's stock, valued at $16,413,033.15. This trade represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 506,634 shares of company stock valued at $33,523,839.

Rubrik Stock Performance

Shares of RBRK stock traded down $0.43 during mid-day trading on Tuesday, reaching $74.24. 2,186,350 shares of the company were exchanged, compared to its average volume of 1,978,874. The business's 50 day simple moving average is $63.41 and its 200 day simple moving average is $61.78. The company has a market capitalization of $14.09 billion and a P/E ratio of -5.39. Rubrik, Inc. has a fifty-two week low of $28.34 and a fifty-two week high of $80.00.

Rubrik (NYSE:RBRK - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. During the same quarter in the previous year, the business posted ($1.59) EPS. The business's quarterly revenue was up 47.5% on a year-over-year basis. On average, analysts forecast that Rubrik, Inc. will post -7.66 EPS for the current year.

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.