Legal & General Group Plc Cuts Stake in Rubrik, Inc. (NYSE:RBRK)

Legal & General Group Plc reduced its stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 14.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,422 shares of the company's stock after selling 9,531 shares during the period. Legal & General Group Plc's holdings in Rubrik were worth $3,688,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in RBRK. Bank of Montreal Can grew its stake in Rubrik by 43.2% during the 4th quarter. Bank of Montreal Can now owns 24,460 shares of the company's stock valued at $1,599,000 after purchasing an additional 7,378 shares during the last quarter. Cerity Partners LLC purchased a new stake in Rubrik in the fourth quarter valued at approximately $209,000. Trek Financial LLC acquired a new position in Rubrik in the 4th quarter worth approximately $2,490,000. FMR LLC raised its position in Rubrik by 172.6% during the 4th quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after buying an additional 2,065,444 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Rubrik by 32.0% during the 4th quarter. Federated Hermes Inc. now owns 1,516,991 shares of the company's stock valued at $99,151,000 after acquiring an additional 367,491 shares during the period. 49.54% of the stock is owned by institutional investors and hedge funds.

Rubrik Price Performance

Shares of NYSE:RBRK traded up $1.57 during midday trading on Friday, hitting $69.78. The company had a trading volume of 1,544,993 shares, compared to its average volume of 1,992,823. The business's 50-day simple moving average is $63.07 and its 200-day simple moving average is $60.11. The stock has a market cap of $13.24 billion and a price-to-earnings ratio of -5.06. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $80.00.

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

Wall Street Analysts Forecast Growth

RBRK has been the subject of a number of research reports. Guggenheim boosted their target price on shares of Rubrik from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Wells Fargo & Company upped their target price on Rubrik from $76.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. William Blair initiated coverage on Rubrik in a research report on Friday, February 7th. They set a "market perform" rating for the company. Robert W. Baird lowered their price objective on Rubrik from $83.00 to $76.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 12th. Finally, BMO Capital Markets raised their price objective on shares of Rubrik from $72.00 to $77.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Rubrik has a consensus rating of "Buy" and an average target price of $68.83.

Insider Buying and Selling at Rubrik

In related news, major shareholder Lightspeed Management Company, sold 13,213 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $62.98, for a total transaction of $832,154.74. Following the completion of the transaction, the insider now owns 21,221 shares of the company's stock, valued at approximately $1,336,498.58. This trade represents a 38.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yvonne Wassenaar sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $77.31, for a total value of $193,275.00. Following the completion of the sale, the director now directly owns 153 shares in the company, valued at approximately $11,828.43. The trade was a 94.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 515,619 shares of company stock worth $34,167,897 over the last quarter.

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.